Zacks: Brokerages Expect Antero Midstream Corp (NYSE:AM) Will Announce Quarterly Sales of $284.50 Million

Equities research analysts expect that Antero Midstream Corp (NYSE:AM) will post $284.50 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Antero Midstream’s earnings. The lowest sales estimate is $268.45 million and the highest is $296.50 million. Antero Midstream reported sales of $37.82 million in the same quarter last year, which indicates a positive year over year growth rate of 652.2%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, October 29th.

According to Zacks, analysts expect that Antero Midstream will report full year sales of $1.10 billion for the current financial year, with estimates ranging from $1.07 billion to $1.13 billion. For the next fiscal year, analysts expect that the business will report sales of $1.26 billion, with estimates ranging from $1.14 billion to $1.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Antero Midstream.

Antero Midstream (NYSE:AM) last posted its quarterly earnings results on Wednesday, July 31st. The pipeline company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.07). Antero Midstream had a return on equity of 10.52% and a net margin of 29.31%. The firm had revenue of $255.62 million for the quarter, compared to the consensus estimate of $283.69 million. The firm’s quarterly revenue was up 5.4% compared to the same quarter last year.

AM has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on shares of Antero Midstream from $15.00 to $9.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Mitsubishi UFJ Financial Group lowered shares of Antero Midstream from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $17.00 to $13.00 in a research report on Friday, August 2nd. ValuEngine raised shares of Antero Midstream from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Antero Midstream from a “sell” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Monday, July 8th. Finally, Barclays set a $8.00 price objective on shares of Antero Midstream and gave the company a “hold” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $13.67.

In other news, insider K. Phil Yoo sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.97, for a total value of $104,550.00. Following the sale, the insider now directly owns 301,955 shares in the company, valued at approximately $2,104,626.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director W Howard Keenan, Jr. sold 2,855,848 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $6.81, for a total transaction of $19,448,324.88. Corporate insiders own 7.91% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Lee Financial Co bought a new position in Antero Midstream during the 2nd quarter worth approximately $61,000. Nisa Investment Advisors LLC bought a new position in Antero Midstream during the 3rd quarter worth approximately $74,000. Signaturefd LLC bought a new position in Antero Midstream during the 3rd quarter worth approximately $87,000. Stephens Inc. AR bought a new position in Antero Midstream during the 3rd quarter worth approximately $95,000. Finally, Oakbrook Investments LLC bought a new position in Antero Midstream during the 3rd quarter worth approximately $98,000. Institutional investors own 55.85% of the company’s stock.

Shares of AM opened at $7.29 on Friday. The firm has a market capitalization of $3.78 billion, a PE ratio of 22.09, a PEG ratio of 1.82 and a beta of 1.31. The company’s 50-day moving average is $7.23 and its 200-day moving average is $10.41. Antero Midstream has a fifty-two week low of $6.55 and a fifty-two week high of $18.20. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.49 and a quick ratio of 0.49.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Friday, November 1st will be paid a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.23 dividend on an annualized basis and a yield of 16.90%. Antero Midstream’s payout ratio is 372.73%.

Antero Midstream Company Profile

Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.

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Earnings History and Estimates for Antero Midstream (NYSE:AM)

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