ARC Resources Ltd Forecasted to Earn Q1 2020 Earnings of $0.11 Per Share (TSE:ARX)

ARC Resources Ltd (TSE:ARX) – Investment analysts at Cormark dropped their Q1 2020 EPS estimates for ARC Resources in a research note issued to investors on Friday, June 21st. Cormark analyst A. Arif now expects that the oil and gas exploration company will post earnings per share of $0.11 for the quarter, down from their previous estimate of $0.18. Cormark also issued estimates for ARC Resources’ Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at $0.05 EPS and Q4 2020 earnings at $0.08 EPS.

ARC Resources (TSE:ARX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported C($0.15) earnings per share for the quarter, missing the consensus estimate of C$0.10 by C($0.25). The firm had revenue of C$329.30 million for the quarter, compared to analysts’ expectations of C$339.30 million.

ARX has been the topic of several other research reports. Raymond James upped their price target on shares of ARC Resources from C$16.00 to C$16.25 and gave the stock a “strong-buy” rating in a report on Thursday, May 16th. BMO Capital Markets decreased their price target on shares of ARC Resources from C$12.00 to C$10.00 in a report on Friday, June 14th. CIBC reduced their target price on ARC Resources from C$16.00 to C$13.00 in a research note on Wednesday, June 19th. TD Securities reduced their target price on ARC Resources from C$13.50 to C$12.50 and set a “buy” rating on the stock in a research note on Friday, June 21st. Finally, National Bank Financial increased their target price on ARC Resources from C$11.00 to C$12.00 in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of C$13.31.

ARC Resources stock opened at C$6.64 on Monday. The company has a market capitalization of $2.36 billion and a PE ratio of 22.90. ARC Resources has a fifty-two week low of C$6.56 and a fifty-two week high of C$15.90. The stock has a fifty day moving average price of C$7.45. The company has a current ratio of 1.38, a quick ratio of 0.95 and a debt-to-equity ratio of 26.10.

The company also recently announced a jun 19 dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 27th. ARC Resources’s dividend payout ratio is presently 206.90%.

ARC Resources Company Profile

ARC Resources Ltd., together with its subsidiaries, acquires, develops, and holds interest in petroleum and natural gas properties and assets in Canada. The company holds interests in the Montney properties located in northeast British Columbia and northern Alberta; and Cardium properties in the Pembina area of Alberta.

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

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