Research Analysts Set Expectations for Archrock, Inc.'s Q2 2024 Earnings (NYSE:AROC)

Archrock, Inc. (NYSE:AROC - Free Report) - Equities researchers at Sidoti Csr increased their Q2 2024 EPS estimates for Archrock in a research note issued on Thursday, May 2nd. Sidoti Csr analyst S. Ferazani now anticipates that the energy company will earn $0.26 per share for the quarter, up from their previous forecast of $0.24. The consensus estimate for Archrock's current full-year earnings is $1.02 per share. Sidoti Csr also issued estimates for Archrock's Q1 2025 earnings at $0.28 EPS, Q2 2025 earnings at $0.29 EPS, Q3 2025 earnings at $0.31 EPS, Q4 2025 earnings at $0.31 EPS and FY2025 earnings at $1.19 EPS.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada increased their target price on shares of Archrock from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Thursday, March 28th. Stifel Nicolaus increased their target price on shares of Archrock from $20.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Archrock has an average rating of "Moderate Buy" and a consensus price target of $19.67.

Archrock Stock Performance

NYSE AROC traded down $0.18 during trading hours on Monday, reaching $20.03. 1,078,709 shares of the company were exchanged, compared to its average volume of 1,319,637. Archrock has a 1 year low of $8.92 and a 1 year high of $21.40. The business's 50 day simple moving average is $19.38 and its 200-day simple moving average is $16.56. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $3.13 billion, a P/E ratio of 24.35, a P/E/G ratio of 2.82 and a beta of 1.58.

Archrock (NYSE:AROC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The energy company reported $0.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. Archrock had a net margin of 12.54% and a return on equity of 15.30%. The business had revenue of $268.49 million during the quarter, compared to the consensus estimate of $260.51 million. During the same quarter last year, the company posted $0.10 earnings per share. The firm's quarterly revenue was up 3.4% compared to the same quarter last year.

Archrock Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, May 7th will be given a $0.165 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.30%. Archrock's dividend payout ratio (DPR) is currently 79.52%.

Hedge Funds Weigh In On Archrock

A number of large investors have recently modified their holdings of AROC. Blackstone Inc. boosted its position in shares of Archrock by 4,211.9% in the fourth quarter. Blackstone Inc. now owns 5,903,142 shares of the energy company's stock valued at $90,908,000 after acquiring an additional 5,766,237 shares during the period. Sei Investments Co. boosted its position in shares of Archrock by 37.7% in the fourth quarter. Sei Investments Co. now owns 5,113,865 shares of the energy company's stock valued at $78,753,000 after acquiring an additional 1,399,309 shares during the period. Norges Bank bought a new position in shares of Archrock in the fourth quarter valued at approximately $15,958,000. Goldman Sachs Group Inc. boosted its position in shares of Archrock by 171.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,332,058 shares of the energy company's stock valued at $20,514,000 after acquiring an additional 841,366 shares during the period. Finally, Allianz Asset Management GmbH lifted its position in Archrock by 302.9% during the fourth quarter. Allianz Asset Management GmbH now owns 912,784 shares of the energy company's stock valued at $14,057,000 after purchasing an additional 686,242 shares during the last quarter. 95.45% of the stock is currently owned by institutional investors.

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.