What is Sidoti Csr’s Forecast for Archrock FY2024 Earnings?

Archrock, Inc. (NYSE:AROC) – Investment analysts at Sidoti Csr increased their FY2024 earnings per share estimates for Archrock in a report issued on Wednesday, November 13th. Sidoti Csr analyst S. Ferazani now forecasts that the energy company will earn $1.08 per share for the year, up from their previous estimate of $1.07. The consensus estimate for Archrock’s current full-year earnings is $1.13 per share.

Archrock (NYSE:AROC) last announced its earnings results on Monday, November 11th. The energy company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Archrock had a net margin of 13.34% and a return on equity of 16.24%. The company had revenue of $292.16 million during the quarter, compared to the consensus estimate of $286.19 million. During the same period in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis.

Several other equities research analysts have also recently commented on the stock. Evercore ISI assumed coverage on shares of Archrock in a research report on Wednesday, September 25th. They set an “outperform” rating and a $24.00 price target for the company. Mizuho assumed coverage on Archrock in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $24.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on Archrock in a report on Friday, September 6th. They set an “overweight” rating and a $24.00 target price on the stock. 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. Finally, Royal Bank of Canada lifted their price objective on shares of Archrock from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $24.67.

Archrock Price Performance

Archrock stock opened at $23.22 on Friday. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 25.52 and a beta of 1.52. Archrock has a 12-month low of $13.89 and a 12-month high of $24.71. The company has a quick ratio of 0.94, a current ratio of 1.26 and a debt-to-equity ratio of 1.73. The business’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $20.34.

Archrock Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.01%. This is a positive change from Archrock’s previous quarterly dividend of $0.17. Archrock’s dividend payout ratio (DPR) is currently 76.92%.

Institutional Trading of Archrock

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its holdings in shares of Archrock by 16.6% in the second quarter. GAMMA Investing LLC now owns 4,052 shares of the energy company’s stock valued at $82,000 after buying an additional 578 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Archrock by 0.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,245 shares of the energy company’s stock worth $1,658,000 after acquiring an additional 710 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Archrock by 6.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,373 shares of the energy company’s stock valued at $230,000 after acquiring an additional 713 shares in the last quarter. Atria Investments Inc boosted its stake in Archrock by 2.3% in the 3rd quarter. Atria Investments Inc now owns 32,648 shares of the energy company’s stock worth $661,000 after purchasing an additional 746 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Archrock by 2.2% during the 2nd quarter. Van ECK Associates Corp now owns 35,280 shares of the energy company’s stock worth $713,000 after purchasing an additional 753 shares in the last quarter. 95.45% of the stock is currently owned by institutional investors and hedge funds.

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.