Archrock (NYSE:AROC) Issues Quarterly Earnings Results

Archrock (NYSE:AROC) announced its earnings results on Monday. The energy company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04, Zacks reports. The company had revenue of $370.81 million for the quarter, compared to the consensus estimate of $385.95 million. Archrock had a net margin of 21.84% and a return on equity of 22.22%.

Archrock Price Performance

NYSE AROC opened at $30.27 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 1.39 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $5.31 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.54 and a beta of 0.92. Archrock has a 12-month low of $22.88 and a 12-month high of $42.23. The company has a 50 day moving average price of $30.86 and a two-hundred day moving average price of $34.05.

Archrock Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Tuesday, November 3rd will be paid a $0.23 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 3.0%. Archrock’s payout ratio is 49.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AROC shares. Zacks Research downgraded Archrock from a “hold” rating to a “strong sell” rating in a report on Monday, August 31st. Weiss Ratings downgraded Archrock from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, October 28th. Royal Bank Of Canada raised their price objective on Archrock from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Wells Fargo & Company decreased their price objective on Archrock from $43.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, August 6th. Finally, Evercore set a $40.00 target price on Archrock in a research note on Monday, August 17th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.12.

About Archrock

Archrock, Inc (NYSE: AROC) is a Houston-based energy infrastructure company that provides natural gas compression services in the United States. Compression is used to increase the pressure of natural gas so it can move efficiently through gathering systems, processing facilities, transmission pipelines and other midstream infrastructure.

The company operates a fleet of natural gas compressors and primarily serves customers through contract compression arrangements. Its services support a range of applications, including natural gas gathering, processing, transmission, storage and production.