Sidoti Csr Has Bullish Outlook for Archrock FY2024 Earnings

Archrock, Inc. (NYSE:AROC) – Equities research analysts at Sidoti Csr raised their FY2024 earnings estimates for Archrock in a research report issued on Wednesday, November 13th. Sidoti Csr analyst S. Ferazani now forecasts 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.

A number of other equities analysts also recently commented on the stock. Mizuho initiated coverage on shares of Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. Evercore ISI assumed coverage on shares of Archrock in a report on Wednesday, September 25th. They issued an “outperform” rating and a $24.00 price target for the company. Citigroup assumed coverage on shares of Archrock in a research note on Friday, September 27th. They set a “buy” rating and a $24.00 price objective on the stock. Royal Bank of Canada upped their target price on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. initiated coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price target on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.67.

Archrock Price Performance

Shares of NYSE AROC opened at $23.22 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of 25.51 and a beta of 1.52. Archrock has a twelve month low of $13.89 and a twelve month high of $24.71. The business has a 50 day simple moving average of $20.92 and a 200-day simple moving average of $20.33.

Archrock (NYSE:AROC) last announced its quarterly earnings data on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The firm had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same period in the previous year, the company earned $0.20 earnings per share. Archrock’s quarterly revenue was up 15.3% on a year-over-year basis.

Institutional Investors Weigh In On Archrock

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Archrock by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 18,321,555 shares of the energy company’s stock valued at $360,385,000 after acquiring an additional 849,750 shares during the last quarter. Earnest Partners LLC lifted its stake in Archrock by 2.6% during the first quarter. Earnest Partners LLC now owns 14,007,955 shares of the energy company’s stock valued at $275,536,000 after purchasing an additional 351,391 shares during the last quarter. State Street Corp boosted its holdings in Archrock by 11.5% during the third quarter. State Street Corp now owns 6,836,745 shares of the energy company’s stock worth $138,376,000 after buying an additional 707,379 shares in the last quarter. American Century Companies Inc. grew its position in Archrock by 20.5% in the second quarter. American Century Companies Inc. now owns 3,958,281 shares of the energy company’s stock worth $80,036,000 after buying an additional 672,663 shares during the last quarter. Finally, Energy Income Partners LLC increased its holdings in shares of Archrock by 4.9% in the first quarter. Energy Income Partners LLC now owns 2,468,897 shares of the energy company’s stock valued at $48,563,000 after buying an additional 116,298 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors.

Archrock Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 3.02%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Wednesday, November 6th. Archrock’s dividend payout ratio is 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.