NEW YORK (TheStreet) -- Walter Energy (WLT) shares continue to fall, down -4.8% to $4.34, on Tuesday following reports that the EPA is proposing the toughest carbon-dioxide emissions standards in history in an effort to curb climate change.
The agency has proposed a 30% cut in emission by 2030 through improving energy efficiency, shifting from coal to natural gas, investing in renewable energy and making power plant upgrades.
Walter Energy released a statement yesterday, stating in part, "Because the rules issued today by the EPA are aimed at controlling CO2 emissions from existing domestic power plants, we do not expect the regulation will have any material impact on Walter Energy. We primarily mine and sell metallurgical grades of coal that are used in making steel, not generating electricity."
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TheStreet Ratings team rates WALTER ENERGY INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate WALTER ENERGY INC (WLT) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, poor profit margins, generally disappointing historical performance in the stock itself and generally high debt management risk."