Archrock (NYSE:AROC) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Archrock (NYSE:AROC) announced its quarterly earnings data on Monday. The energy company reported $0.28 EPS for the quarter, topping 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 firm had revenue of $292.16 million during the quarter, compared to analyst estimates of $286.19 million. During the same period last year, the company earned $0.20 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis.

Archrock Price Performance

NYSE AROC opened at $23.61 on Tuesday. 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 has a 12-month low of $13.65 and a 12-month high of $23.73. The firm’s 50 day moving average is $20.50 and its 200-day moving average is $20.22. The company has a market capitalization of $3.99 billion, a PE ratio of 26.52 and a beta of 1.52.

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 issued a dividend of $0.175 per share. The ex-dividend date is Wednesday, November 6th. This is an increase from Archrock’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.97%. Archrock’s dividend payout ratio (DPR) is presently 78.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Stifel Nicolaus lifted their price target on shares of Archrock from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. began 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 initiated coverage on Archrock in a research report on Friday, September 27th. They issued a “buy” rating and a $24.00 price target on the stock. Mizuho initiated coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on Archrock from $22.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.