Cormark Analysts Reduce Earnings Estimates for ARC Resources Ltd (TSE:ARX)
ARC Resources Ltd (TSE:ARX) – Investment analysts at Cormark reduced their Q3 2017 EPS estimates for ARC Resources in a research report issued to clients and investors on Friday. Cormark analyst A. Arif now anticipates that the oil and gas exploration company will earn $0.11 per share for the quarter, down from their previous estimate of $0.12. Cormark also issued estimates for ARC Resources’ Q4 2017 earnings at $0.19 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.20 EPS and FY2018 earnings at $0.82 EPS.
A number of other equities research analysts have also issued reports on ARX. National Bank Financial upped their price target on ARC Resources from C$19.00 to C$20.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank Of Canada dropped their price target on ARC Resources from C$25.00 to C$22.00 in a research report on Thursday, July 20th. Barclays PLC dropped their price target on ARC Resources from C$24.00 to C$22.00 in a research report on Monday, July 24th. Scotiabank reiterated an “outperform” rating and issued a C$29.00 price objective on shares of ARC Resources in a research report on Thursday, May 4th. Finally, TD Securities lowered their price objective on ARC Resources from C$23.00 to C$22.00 and set a “buy” rating for the company in a research report on Thursday, May 4th. Seven research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of C$25.55.
ARC Resources (TSE:ARX) opened at 16.87 on Monday. ARC Resources has a 12-month low of $16.20 and a 12-month high of $24.94. The stock has a market cap of $5.96 billion and a PE ratio of 21.33. The firm’s 50-day moving average price is $17.02 and its 200 day moving average price is $18.55.
In related news, Director John Patrick Dielwart sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of C$16.77, for a total value of C$167,700.00.
The firm also recently disclosed a aug 17 dividend, which will be paid on Tuesday, August 15th. Investors of record on Monday, July 31st will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, July 27th. This represents a yield of 3.42%.
About ARC Resources
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