ARC Resources Ltd. (TSE:ARX) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• ARC Resources received a consensus “Hold” rating from 13 brokerages: eight issued hold ratings, three buys, one strong buy and one sell. The average 12-month price target is C$30.35.
• Recent analyst actions were mixed, with several firms lowering ratings to hold, tender or market perform while raising price targets, generally to around C$32.00–C$32.80.
• ARX traded at C$33.74, near its 12-month high of C$34.03. The company reported quarterly revenue of C$2.16 billion and earnings of C$0.62 per share, with a 19.29% net margin.

ARC Resources Ltd. (TSE:ARX - Get Free Report) has been assigned an average rating of "Hold" from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is C$30.35.

ARX has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce lowered ARC Resources from a "neutral" rating to a "tender" rating and upped their target price for the company from C$29.00 to C$32.00 in a research report on Tuesday, April 28th. Canaccord Genuity Group downgraded shares of ARC Resources from a "buy" rating to a "hold" rating and lifted their price target for the company from C$31.00 to C$32.00 in a research note on Tuesday, April 28th. Raymond James Financial upped their price target on ARC Resources from C$29.00 to C$32.80 in a research note on Tuesday, April 28th. ATB Cormark Capital Markets lowered ARC Resources from an "outperform" rating to a "tender" rating and set a C$31.00 price target on the stock. in a report on Tuesday, April 28th. Finally, BMO Capital Markets cut ARC Resources from an "outperform" rating to a "market perform" rating and raised their price objective for the company from C$30.00 to C$32.00 in a research note on Tuesday, April 28th.

ARC Resources Trading Up 0.3%

ARX opened at C$33.74 on Thursday. ARC Resources has a twelve month low of C$21.14 and a twelve month high of C$34.03. The company has a fifty day moving average of C$31.67 and a 200-day moving average of C$29.27. The stock has a market cap of C$19.09 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 0.29 and a beta of -0.37. The company has a quick ratio of 0.42, a current ratio of 0.88 and a debt-to-equity ratio of 39.16.

ARC Resources (TSE:ARX - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The oil and gas exploration company reported C$0.62 EPS for the quarter. ARC Resources had a net margin of 19.29% and a return on equity of 16.64%. The business had revenue of C$2.16 billion for the quarter. On average, sell-side analysts predict that ARC Resources will post 2.7255139 EPS for the current year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.

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