Archrock (NYSE:AROC) Issues Earnings Results

Archrock (NYSE:AROC) announced its quarterly earnings data on Monday. The energy company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01, Briefing.com reports. The company had revenue of $292.16 million for the quarter, compared to the consensus estimate of $286.19 million. Archrock had a net margin of 13.34% and a return on equity of 18.12%. Archrock’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS.

Archrock Price Performance

Shares of Archrock stock traded down $0.57 on Wednesday, reaching $23.65. The company’s stock had a trading volume of 1,545,236 shares, compared to its average volume of 1,428,692. The company has a market capitalization of $3.99 billion, a P/E ratio of 25.98 and a beta of 1.52. Archrock has a 52-week low of $13.89 and a 52-week high of $24.71. The stock has a 50-day moving average price of $20.76 and a 200-day moving average price of $20.29. 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 2.96%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is 76.92%.

Wall Street Analyst Weigh In

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