ARC Resources Ltd. (TSE:ARX) Receives Average Rating of “Hold” from Brokerages

Shares of ARC Resources Ltd. (TSE:ARX) have received a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is C$30.35.

ARX has been the topic of several recent analyst reports. Canadian Imperial Bank of Commerce lowered shares of ARC Resources from a “neutral” rating to a “tender” rating and lifted their price objective for the stock from C$29.00 to C$32.00 in a research note on Tuesday, April 28th. Raymond James Financial upped their target price on shares of ARC Resources from C$29.00 to C$32.80 in a research note on Tuesday, April 28th. BMO Capital Markets lowered shares of ARC Resources from an “outperform” rating to a “market perform” rating and increased their target price for the stock from C$30.00 to C$32.00 in a report on Tuesday, April 28th. TD Securities cut shares of ARC Resources from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, April 27th. Finally, ATB Cormark Capital Markets cut shares of ARC Resources from an “outperform” rating to a “tender” rating and set a C$31.00 price target on the stock. in a research report on Tuesday, April 28th.

ARC Resources Trading Up 0.7%

TSE:ARX opened at C$32.69 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 43.61. ARC Resources has a 1-year low of C$21.14 and a 1-year high of C$32.97. The firm has a market capitalization of C$18.52 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 0.29 and a beta of -0.36. The business’s 50-day moving average price is C$31.15 and its two-hundred day moving average price is C$28.15.

ARC Resources (TSE:ARX) last posted its earnings results on Tuesday, April 28th. The oil and gas exploration company reported C$1.03 earnings per share (EPS) for the quarter. The company had revenue of C$2.10 billion during the quarter. ARC Resources had a return on equity of 17.43% and a net margin of 22.18%. On average, equities analysts expect that ARC Resources will post 2.7255139 earnings per share for the current year.

About ARC Resources

ARC Resources Ltd. is a pure-play Montney producer and one of Canada’s largest dividend-paying energy companies, featuring low-cost operations. ARC’s investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business.