Zacks: Brokerages Expect Archrock Inc (AROC) Will Announce Earnings of $0.05 Per Share

Brokerages expect that Archrock Inc (NYSE:AROC) will announce earnings of $0.05 per share for the current quarter, Zacks reports. Two analysts have made estimates for Archrock’s earnings, with estimates ranging from $0.01 to $0.08. Archrock posted earnings of ($0.09) per share during the same quarter last year, which indicates a positive year over year growth rate of 155.6%. The firm is expected to issue its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Archrock will report full year earnings of $0.30 per share for the current financial year. For the next year, analysts forecast that the firm will report earnings of $0.50 per share, with EPS estimates ranging from $0.48 to $0.52. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Archrock.

Archrock (NYSE:AROC) last announced its quarterly earnings results on Thursday, August 2nd. The energy company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $226.87 million during the quarter, compared to analysts’ expectations of $216.63 million. Archrock had a return on equity of 0.45% and a net margin of 4.19%.

Several equities research analysts recently commented on the company. ValuEngine cut Archrock from a “hold” rating to a “sell” rating in a research note on Wednesday, June 13th. Royal Bank of Canada reissued a “buy” rating and issued a $16.00 price target on shares of Archrock in a research note on Friday, August 3rd. B. Riley boosted their price target on Archrock from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Monday, August 6th. TheStreet raised Archrock from a “d+” rating to a “c-” rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research raised Archrock from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research note on Tuesday, July 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.54.

In related news, CFO Doug S. Aron bought 10,000 shares of Archrock stock in a transaction that occurred on Friday, August 17th. The stock was purchased at an average cost of $11.92 per share, for a total transaction of $119,200.00. Following the acquisition, the chief financial officer now owns 49,215 shares in the company, valued at $586,642.80. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.54% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Archrock by 332.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,503 shares of the energy company’s stock worth $102,000 after purchasing an additional 6,539 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new stake in Archrock in the 1st quarter worth approximately $103,000. WINTON GROUP Ltd acquired a new stake in Archrock in the 1st quarter worth approximately $120,000. Quantbot Technologies LP acquired a new stake in Archrock in the 1st quarter worth approximately $123,000. Finally, Element Capital Management LLC acquired a new stake in Archrock in the 1st quarter worth approximately $127,000. Hedge funds and other institutional investors own 88.90% of the company’s stock.

Shares of NYSE AROC opened at $12.00 on Friday. The company has a market capitalization of $1.60 billion, a P/E ratio of -60.00 and a beta of 2.83. Archrock has a 52 week low of $8.25 and a 52 week high of $13.75. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.35 and a quick ratio of 0.86.

Archrock Company Profile

Archrock, Inc engages in the natural gas contract operations services business in the United States. The company provides natural gas compression services to customers in the oil and natural gas industry. It also offers aftermarket services, such as parts and components; and operation, maintenance, overhaul, and reconfiguration services to customers who own compression equipment.

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Earnings History and Estimates for Archrock (NYSE:AROC)

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