Sidoti Csr Forecasts Archrock's FY2024 Earnings (NYSE:AROC)

Archrock, Inc. (NYSE:AROC - Free Report) - Investment analysts at Sidoti Csr lifted their FY2024 earnings estimates for shares of Archrock in a research report issued on Wednesday, November 13th. Sidoti Csr analyst S. Ferazani now forecasts that the energy company will post earnings per share of $1.08 for the year, up from their previous forecast of $1.07. The consensus estimate for Archrock's current full-year earnings is $1.13 per share.

Archrock (NYSE:AROC - Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 16.24%. Archrock's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company posted $0.20 EPS.

A number of other equities analysts have also weighed in on AROC. Citigroup began coverage on shares of Archrock in a research note on Friday, September 27th. They issued a "buy" rating and a $24.00 target price for the company. Evercore ISI started coverage on shares of Archrock in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. assumed coverage on shares of Archrock in a report on Friday, September 6th. They set an "overweight" rating and a $24.00 target price for the company. Royal Bank of Canada increased their price target on shares of Archrock from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on Archrock from $23.00 to $25.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.67.

Archrock Stock Down 0.2 %

NYSE AROC traded down $0.05 during trading hours on Friday, reaching $23.22. 1,049,781 shares of the company's stock were exchanged, compared to its average volume of 1,426,044. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.94 and a current ratio of 1.26. Archrock has a one year low of $13.89 and a one year high of $24.71. The company's 50-day moving average is $20.92 and its two-hundred day moving average is $20.33. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 25.51 and a beta of 1.52.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. bought a new position in shares of Archrock in the 3rd quarter valued at $28,000. Wolff Wiese Magana LLC bought a new position in Archrock in the third quarter valued at about $30,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Archrock during the first quarter valued at about $43,000. Continuum Advisory LLC boosted its stake in shares of Archrock by 5,621.6% during the third quarter. Continuum Advisory LLC now owns 2,117 shares of the energy company's stock valued at $43,000 after purchasing an additional 2,080 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in shares of Archrock in the third quarter valued at approximately $50,000. 95.45% of the stock is currently owned by institutional investors and hedge funds.

Archrock Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from Archrock's previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, November 6th. Archrock's dividend payout ratio is presently 76.92%.

Archrock Company Profile

Archrock, Inc, together with its subsidiaries, operates as an energy infrastructure company in the United States. The company operates in two segments, Contract Operations and Aftermarket Services. It engages in the designing, sourcing, owning, installing, operating, servicing, repairing, and maintaining of its owned fleet of natural gas compression equipment to provide natural gas compression services.