Stifel Firstegy Equities Analysts Lift Earnings Estimates for ARC Resources Ltd. (TSE:ARX)

Posted by on Jul 17th, 2023

ARC Resources Ltd. (TSE:ARX – Free Report) – Investment analysts at Stifel Firstegy upped their FY2023 earnings per share (EPS) estimates for shares of ARC Resources in a report released on Thursday, July 13th. Stifel Firstegy analyst M. Dunn now forecasts that the oil and gas exploration company will post earnings of $2.35 per share for the year, up from their prior forecast of $2.28. The consensus estimate for ARC Resources’ current full-year earnings is $2.41 per share. Stifel Firstegy also issued estimates for ARC Resources’ FY2024 earnings at $2.23 EPS.

ARX has been the subject of several other reports. Raymond James raised their price objective on ARC Resources from C$20.00 to C$21.00 in a research note on Friday. ATB Capital raised their target price on ARC Resources from C$21.00 to C$21.50 in a report on Friday, May 5th. CIBC raised their price objective on ARC Resources from C$22.00 to C$25.50 in a report on Friday. Veritas Investment Research reaffirmed a “buy” rating on shares of ARC Resources in a research note on Thursday, July 6th. Finally, BMO Capital Markets lowered ARC Resources from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from C$19.00 to C$20.00 in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$23.82.

ARC Resources Trading Down 2.3 %

ARC Resources stock opened at C$18.23 on Monday. The stock has a 50-day moving average of C$17.48 and a two-hundred day moving average of C$16.45. The company has a debt-to-equity ratio of 27.57, a quick ratio of 0.42 and a current ratio of 0.63. ARC Resources has a one year low of C$14.33 and a one year high of C$20.49. The stock has a market cap of C$11.14 billion, a PE ratio of 4.05, a price-to-earnings-growth ratio of 0.29 and a beta of 1.55.

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

ARC Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 17th. Investors of record on Friday, June 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.73%. This is a boost from ARC Resources’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, June 29th. ARC Resources’s payout ratio is presently 15.11%.

ARC Resources Company Profile

(Get Free Report)

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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