Archrock (NYSE:AROC) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Archrock Stock Up 0.4 %

AROC traded up $0.10 during trading on Wednesday, hitting $24.32. 210,639 shares of the company’s stock were exchanged, compared to its average volume of 1,422,626. Archrock has a fifty-two week low of $13.89 and a fifty-two week high of $24.71. The stock has a market cap of $4.11 billion, a P/E ratio of 26.62 and a beta of 1.52. The business’s 50 day moving average is $20.67 and its two-hundred day moving average is $20.27. The company has a quick ratio of 0.94, a current ratio of 1.53 and a debt-to-equity ratio of 1.80.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Wednesday, November 6th. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s payout ratio is 76.92%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank of Canada upped their target price on Archrock from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. assumed coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 price target on the stock. Mizuho assumed coverage on shares of Archrock in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. Stifel Nicolaus boosted their target price on shares of Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup started coverage on shares of Archrock in a report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.50.

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.