ARC Resources Ltd. to Post FY2023 Earnings of $2.37 Per Share, Stifel Firstegy Forecasts (TSE:ARX)

Posted by on Jun 26th, 2023

ARC Resources Ltd. (TSE:ARX – Get Rating) – Analysts at Stifel Firstegy increased their FY2023 earnings estimates for ARC Resources in a research note issued on Thursday, June 22nd. Stifel Firstegy analyst M. Dunn now anticipates that the oil and gas exploration company will post earnings per share of $2.37 for the year, up from their prior forecast of $2.24. The consensus estimate for ARC Resources’ current full-year earnings is $2.56 per share. Stifel Firstegy also issued estimates for ARC Resources’ FY2025 earnings at $2.50 EPS.

ARC Resources (TSE:ARX – Get Rating) last issued its earnings results on Thursday, May 4th. The oil and gas exploration company reported C$0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.62 by C$0.31. ARC Resources had a net margin of 35.33% and a return on equity of 46.72%. The company had revenue of C$1.65 billion for the quarter.

Several other brokerages also recently commented on ARX. CIBC reduced their target price on shares of ARC Resources from C$25.00 to C$22.00 in a report on Friday, April 14th. BMO Capital Markets raised their price objective on shares of ARC Resources from C$18.00 to C$19.00 in a research report on Friday, May 5th. National Bankshares upped their target price on ARC Resources from C$18.50 to C$23.00 and gave the company an “outperform” rating in a research report on Monday, May 8th. Finally, ATB Capital lifted their price target on ARC Resources from C$21.00 to C$21.50 in a report on Friday, May 5th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$23.32.

ARC Resources Stock Performance

Shares of TSE ARX opened at C$18.01 on Monday. The company has a current ratio of 0.63, a quick ratio of 0.42 and a debt-to-equity ratio of 27.57. The stock has a 50 day moving average of C$16.96 and a 200-day moving average of C$16.42. ARC Resources has a 12 month low of C$13.65 and a 12 month high of C$20.49. The company has a market capitalization of C$11.01 billion, a P/E ratio of 3.94, a P/E/G ratio of 0.29 and a beta of 1.55.

ARC Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Friday, June 30th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Thursday, June 29th. This is a positive change from ARC Resources’s previous quarterly dividend of $0.15. ARC Resources’s dividend payout ratio (DPR) is 14.88%.

ARC Resources Company Profile

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ARC Resources Ltd. explores, develops, and produces crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney properties located in northeast British Columbia and northern Alberta. ARC Resources Ltd. was founded in 1996 and is headquartered in Calgary, Canada.

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Earnings History and Estimates for ARC Resources (TSE:ARX)

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