Archrock (NYSE:AROC) Posts Earnings Results, Beats Estimates By $0.01 EPS

Archrock (NYSE:AROC) issued its earnings results on Monday. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01, Briefing.com reports. The firm had revenue of $292.16 million for the quarter, compared to analysts’ expectations of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 18.12%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share.

Archrock Stock Performance

Shares of AROC traded down $0.57 during mid-day trading on Wednesday, reaching $23.65. 1,545,236 shares of the company’s stock traded hands, compared to its average volume of 1,428,692. Archrock has a 12 month low of $13.89 and a 12 month high of $24.71. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.94 and a current ratio of 1.53. The stock has a market capitalization of $3.99 billion, a P/E ratio of 25.98 and a beta of 1.52. The business’s 50-day moving average price is $20.76 and its 200-day moving average price is $20.29.

Archrock Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a $0.175 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, November 6th. This represents a $0.70 annualized dividend and a dividend yield of 2.96%. Archrock’s dividend payout ratio (DPR) is 76.92%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. initiated coverage on shares of Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 target price for the company. Citigroup initiated coverage on Archrock in a report on Friday, September 27th. They set a “buy” rating and a $24.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Archrock from $22.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Stifel Nicolaus lifted their price target on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Evercore ISI began coverage on Archrock in a report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.50.

About Archrock

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.