Archrock, Inc. (NYSE:AROC) declared a quarterly dividend on Monday, October 23rd, Wall Street Journal reports. Shareholders of record on Wednesday, November 8th will be paid a dividend of 0.12 per share by the energy company on Wednesday, November 15th. This represents a $0.48 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Tuesday, November 7th.
Archrock has a payout ratio of 960.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Archrock to earn $0.28 per share next year, which means the company may not be able to cover its $0.48 annual dividend with an expected future payout ratio of 171.4%.
Archrock (NYSE:AROC) last posted its earnings results on Tuesday, August 1st. The energy company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.08. Archrock had a negative return on equity of 3.44% and a negative net margin of 8.57%. The firm had revenue of $198.00 million for the quarter, compared to the consensus estimate of $196.00 million. The business’s quarterly revenue was up 4.2% on a year-over-year basis.
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AROC has been the topic of a number of recent analyst reports. BidaskClub upgraded Archrock from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $13.00 price objective on shares of Archrock in a research report on Wednesday, September 27th. Zacks Investment Research upgraded Archrock from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Tuesday, October 3rd. Finally, Scotiabank set a $15.00 price target on Archrock and gave the company a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $13.46.
Archrock, Inc is a natural gas contract operations services company. The Company also provides natural gas compression services to customers in the oil and natural gas industry throughout the United States and supplies aftermarket services to customers that own compression equipment in the United States.
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