Arc Resources (OTCMKTS:AETUF) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Arc Resources (OTCMKTS:AETUF) announced its earnings results on Thursday. The energy company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.03), Zacks reports. Arc Resources had a net margin of 19.75% and a return on equity of 16.91%. The business had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.18 billion.

Arc Resources Stock Up 1.4%

Shares of OTCMKTS:AETUF traded up $0.33 during midday trading on Friday, reaching $23.93. The company had a trading volume of 22,375 shares, compared to its average volume of 48,082. Arc Resources has a 1-year low of $15.50 and a 1-year high of $23.93. The stock has a market cap of $13.56 billion, a PE ratio of 13.37 and a beta of 0.26. The company has a quick ratio of 0.85, a current ratio of 0.87 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average price is $22.27 and its 200 day moving average price is $20.56.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Arc Resources from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 7th. Canaccord Genuity Group cut Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. BMO Capital Markets downgraded shares of Arc Resources from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 28th. Capital One Financial lowered shares of Arc Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Arc Resources in a research report on Wednesday, April 29th. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

About Arc Resources

Arc Resources Ltd., trading on the OTC Markets under the ticker AETUF, is a Canadian energy company primarily engaged in the exploration, development and production of natural gas, condensate and natural gas liquids. Headquartered in Calgary, Alberta, the company’s core operations are concentrated in the Montney formation, a premier resource play extending across northeastern British Columbia and northwestern Alberta. Arc’s portfolio emphasizes liquids-rich gas production supported by proprietary midstream infrastructure, including gas processing facilities, pipelines and water management systems.

Since its formation in the mid-1990s as Arc Energy Trust and its conversion to a corporation in 2015, Arc Resources has pursued a disciplined growth strategy focused on operational efficiency, cost control and sustainable development.