ARC Resources (ARX) Set to Announce Quarterly Earnings on Wednesday

ARC Resources (TSE:ARX) is scheduled to release its earnings data after the market closes on Wednesday, November 6th. Analysts expect ARC Resources to post earnings of C$0.33 per share for the quarter.

ARC Resources (TSE:ARX) last announced its quarterly earnings data on Thursday, August 1st. The oil and gas exploration company reported C$0.40 earnings per share for the quarter. ARC Resources had a net margin of 22.23% and a return on equity of 15.83%. The business had revenue of C$1.15 billion for the quarter, compared to analyst estimates of C$1.03 billion.

ARC Resources Price Performance

ARC Resources stock opened at C$23.16 on Monday. ARC Resources has a 1 year low of C$19.02 and a 1 year high of C$26.45. The company has a debt-to-equity ratio of 31.49, a quick ratio of 0.42 and a current ratio of 0.88. The firm has a 50 day moving average price of C$23.93 and a 200 day moving average price of C$24.44. The company has a market cap of C$13.81 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 0.29 and a beta of 1.26.

ARC Resources Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.94%. ARC Resources’s dividend payout ratio is presently 35.23%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Cormark upgraded ARC Resources to a “moderate buy” rating in a report on Monday, September 23rd. Scotiabank lifted their price objective on ARC Resources from C$34.00 to C$35.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. UBS Group dropped their target price on shares of ARC Resources from C$33.00 to C$32.00 in a research report on Wednesday, July 10th. Jefferies Financial Group reduced their price target on shares of ARC Resources from C$30.00 to C$27.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Finally, Desjardins increased their price objective on shares of ARC Resources from C$30.00 to C$31.50 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$30.46.

About ARC Resources

ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.