Wall Street analysts forecast that Arc Logistics Partners LP (NYSE:ARCX) will post $26.89 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Arc Logistics Partners’ earnings, with the lowest sales estimate coming in at $26.82 million and the highest estimate coming in at $27.00 million. Arc Logistics Partners reported sales of $26.40 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The business is expected to report its next earnings report on Tuesday, March 13th.
According to Zacks, analysts expect that Arc Logistics Partners will report full-year sales of $26.89 million for the current financial year, with estimates ranging from $106.18 million to $106.80 million. For the next financial year, analysts expect that the business will post sales of $111.78 million per share, with estimates ranging from $110.20 million to $113.11 million. Zacks’ sales averages are an average based on a survey of analysts that follow Arc Logistics Partners.
A number of research analysts have issued reports on ARCX shares. Stifel Nicolaus upgraded shares of Arc Logistics Partners from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Arc Logistics Partners from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. SunTrust Banks lowered shares of Arc Logistics Partners from a “buy” rating to a “hold” rating and upped their target price for the company from $15.00 to $16.50 in a report on Wednesday, August 30th. Finally, BidaskClub upgraded shares of Arc Logistics Partners from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. Arc Logistics Partners presently has a consensus rating of “Hold” and an average price target of $16.50.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Wednesday, November 8th were issued a dividend of $0.44 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.76 annualized dividend and a dividend yield of 10.70%. Arc Logistics Partners’s payout ratio is currently 429.27%.
Several hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in shares of Arc Logistics Partners during the 3rd quarter worth about $792,000. Dupont Capital Management Corp purchased a new position in shares of Arc Logistics Partners during the 3rd quarter worth about $1,022,000. State of New Jersey Common Pension Fund D purchased a new position in shares of Arc Logistics Partners during the 3rd quarter worth about $3,024,000. Mizuho Securities USA LLC purchased a new position in shares of Arc Logistics Partners during the 3rd quarter worth about $2,429,000. Finally, Mariner Wealth Advisors LLC lifted its holdings in shares of Arc Logistics Partners by 3.0% during the 2nd quarter. Mariner Wealth Advisors LLC now owns 14,765 shares of the pipeline company’s stock worth $224,000 after acquiring an additional 434 shares during the period. Institutional investors and hedge funds own 44.37% of the company’s stock.
Arc Logistics Partners Company Profile
Arc Logistics Partners LP owns, operates, develops and acquires a portfolio of energy logistics assets. The Company is engaged in the terminaling, storage, throughput and transloading of crude oil and petroleum products. The Company is focused on growing its business through the optimization, organic development and acquisition of terminaling, storage, rail, pipeline and other energy logistics assets.
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