Archrock (NYSE:AROC) Issues Quarterly Earnings Results

Archrock (NYSE:AROC) released its quarterly earnings data on Monday. The energy company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01, Briefing.com reports. Archrock had a return on equity of 16.35% and a net margin of 13.20%. The business had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same quarter last year, the business posted $0.20 EPS. The company’s revenue was up 15.3% on a year-over-year basis.

Archrock Stock Performance

Archrock stock opened at $23.61 on Tuesday. The firm has a 50 day simple moving average of $20.50 and a 200-day simple moving average of $20.22. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 26.52 and a beta of 1.52. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.53 and a quick ratio of 0.94. Archrock has a 1-year low of $13.65 and a 1-year high of $23.73.

Archrock Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Wednesday, November 6th will be given a dividend of $0.175 per share. This is a boost from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Wednesday, November 6th. Archrock’s dividend payout ratio (DPR) is presently 78.65%.

Wall Street Analyst Weigh In

Several research firms recently commented on AROC. Stifel Nicolaus raised their price target 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. Citigroup started coverage on Archrock in a research note on Friday, September 27th. They issued a “buy” rating and a $24.00 price target for the company. JPMorgan Chase & Co. initiated coverage on Archrock in a report on Friday, September 6th. They issued an “overweight” rating and a $24.00 price objective on the stock. Royal Bank of Canada boosted their price objective on Archrock from $22.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Evercore ISI initiated coverage on Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.50.

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.