Wall Street brokerages predict that Antero Midstream Corp (NYSE:AM) will announce sales of $284.50 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Antero Midstream’s earnings, with estimates ranging from $268.45 million to $296.50 million. Antero Midstream reported sales of $37.82 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 652.2%. The business is expected to report its next quarterly earnings results after the market closes on Tuesday, October 29th.
According to Zacks, analysts expect that Antero Midstream will report full year sales of $1.10 billion for the current fiscal year, with estimates ranging from $1.07 billion to $1.13 billion. For the next fiscal year, analysts expect that the company will post sales of $1.26 billion, with estimates ranging from $1.14 billion to $1.41 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Antero Midstream.
Antero Midstream (NYSE:AM) last issued its earnings results on Wednesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.07). Antero Midstream had a return on equity of 10.52% and a net margin of 29.31%. The company had revenue of $255.62 million during the quarter, compared to analysts’ expectations of $283.69 million. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year.
A number of analysts have recently commented on AM shares. ValuEngine upgraded Antero Midstream from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research upgraded Antero Midstream from a “sell” rating to a “buy” rating and set a $13.00 price target on the stock in a research report on Monday, July 8th. Stifel Nicolaus downgraded Antero Midstream from a “buy” rating to a “hold” rating and lowered their price target for the stock from $14.00 to $11.00 in a research report on Thursday, August 1st. Robert W. Baird lowered their price target on Antero Midstream from $15.00 to $9.00 and set an “outperform” rating on the stock in a research report on Monday, September 9th. Finally, Raymond James downgraded Antero Midstream from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 28th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $13.67.
In other news, insider K. Phil Yoo sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.97, for a total value of $104,550.00. Following the transaction, the insider now owns 301,955 shares in the company, valued at $2,104,626.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director W Howard Keenan, Jr. sold 2,855,848 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $6.81, for a total value of $19,448,324.88. Corporate insiders own 7.91% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lee Financial Co purchased a new position in shares of Antero Midstream in the second quarter valued at approximately $61,000. Nisa Investment Advisors LLC acquired a new stake in shares of Antero Midstream in the third quarter valued at approximately $74,000. Signaturefd LLC acquired a new stake in shares of Antero Midstream in the third quarter valued at approximately $87,000. Stephens Inc. AR acquired a new stake in shares of Antero Midstream in the third quarter valued at approximately $95,000. Finally, Oakbrook Investments LLC acquired a new stake in shares of Antero Midstream in the third quarter valued at approximately $98,000. Institutional investors and hedge funds own 55.85% of the company’s stock.
Shares of AM opened at $7.29 on Friday. Antero Midstream has a 52 week low of $6.55 and a 52 week high of $18.20. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.82 and a beta of 1.31. The stock’s 50-day moving average price is $7.23 and its 200-day moving average price is $10.41.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Friday, November 1st will be given a dividend of $0.308 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.23 dividend on an annualized basis and a yield of 16.90%. Antero Midstream’s dividend payout ratio is currently 372.73%.
About Antero Midstream
Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.
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