Sidoti Csr Has Bullish Estimate for Archrock FY2024 Earnings

Archrock, Inc. (NYSE:AROC) – Stock analysts at Sidoti Csr increased their FY2024 earnings per share estimates for Archrock in a research note issued on Wednesday, November 13th. Sidoti Csr analyst S. Ferazani now expects that the energy company will post earnings of $1.08 per share for the year, up from their prior estimate of $1.07. The consensus estimate for Archrock’s current full-year earnings is $1.13 per share.

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

Archrock Price Performance

NYSE AROC opened at $23.26 on Friday. Archrock has a 1 year low of $13.89 and a 1 year high of $24.71. The stock’s fifty day moving average price is $20.76 and its 200 day moving average price is $20.29. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.26 and a quick ratio of 0.94. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 25.56 and a beta of 1.52.

Archrock (NYSE:AROC) last released its earnings results on Monday, November 11th. The energy company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million during the quarter, compared to analysts’ expectations of $286.19 million. Archrock’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business earned $0.20 EPS.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a $0.175 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This is a boost from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.01%. Archrock’s payout ratio is 76.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AROC. GAMMA Investing LLC increased its stake in Archrock by 16.6% during the 2nd quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock worth $82,000 after buying an additional 578 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Archrock by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock valued at $1,658,000 after purchasing an additional 710 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Archrock by 6.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock valued at $230,000 after purchasing an additional 713 shares in the last quarter. Atria Investments Inc boosted its stake in Archrock by 2.3% during the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock worth $661,000 after purchasing an additional 746 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Archrock by 2.2% during the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after purchasing an additional 753 shares during the last quarter. Hedge funds and other institutional investors own 95.45% of the company’s stock.

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.