Sidoti Csr Has Positive Outlook for Archrock FY2024 Earnings

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

Several other research analysts also recently issued reports on the stock. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price objective on the stock. Royal Bank of Canada boosted their price target on Archrock from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. JPMorgan Chase & Co. started coverage on Archrock in a research report on Friday, September 6th. They set an “overweight” rating and a $24.00 price objective for the company. Stifel Nicolaus boosted their target price on Archrock from $23.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Mizuho started coverage on Archrock in a report on Wednesday, October 2nd. They set an “outperform” 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 given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $24.67.

Archrock Stock Performance

Shares of AROC opened at $23.22 on Friday. The company’s 50 day simple moving average is $20.92 and its 200-day simple moving average is $20.33. The firm has a market cap of $4.07 billion, a PE ratio of 25.51 and a beta of 1.52. Archrock has a 12-month low of $13.89 and a 12-month high of $24.71. The company has a current ratio of 1.26, a quick ratio of 0.94 and a debt-to-equity ratio of 1.73.

Archrock (NYSE:AROC) last posted its earnings results 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. The business had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. Archrock had a return on equity of 16.24% and a net margin of 13.34%. The business’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AROC. Allspring Global Investments Holdings LLC acquired a new position in Archrock in the 1st quarter valued at $43,000. BNP Paribas Financial Markets lifted its position in Archrock by 77.2% during the first quarter. BNP Paribas Financial Markets now owns 69,992 shares of the energy company’s stock worth $1,377,000 after buying an additional 30,493 shares during the period. Janney Montgomery Scott LLC boosted its stake in Archrock by 9.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 13,065 shares of the energy company’s stock worth $257,000 after buying an additional 1,079 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Archrock in the 1st quarter valued at about $133,000. Finally, Russell Investments Group Ltd. increased its stake in shares of Archrock by 70.6% during the 1st quarter. Russell Investments Group Ltd. now owns 5,946 shares of the energy company’s stock valued at $117,000 after acquiring an additional 2,461 shares during the last quarter. Institutional investors and hedge funds own 95.45% of the company’s stock.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th were paid a $0.175 dividend. This is an increase from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 3.02%. The ex-dividend date was Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is presently 76.92%.

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.