FY2016 Earnings Estimate for ARC Resources Ltd Issued By Cormark (ARX)
ARC Resources Ltd (TSE:ARX) – Equities research analysts at Cormark raised their FY2016 earnings per share (EPS) estimates for ARC Resources in a report issued on Wednesday. Cormark analyst A. Arif now forecasts that the firm will post earnings per share of $0.21 for the year, up from their previous forecast of $0.10. Cormark also issued estimates for ARC Resources’ Q4 2016 earnings at $0.11 EPS, Q1 2017 earnings at $0.14 EPS, Q2 2017 earnings at $0.09 EPS, Q3 2017 earnings at $0.11 EPS, Q4 2017 earnings at $0.17 EPS, FY2017 earnings at $0.51 EPS and FY2018 earnings at $0.66 EPS.
Several other analysts have also issued reports on the stock. CSFB raised their price target on shares of ARC Resources from C$26.00 to C$28.00 in a research report on Monday, October 24th. Scotiabank restated an “outperform” rating and issued a C$26.00 price target on shares of ARC Resources in a research report on Friday, July 29th. BMO Capital Markets raised their price target on shares of ARC Resources from C$23.00 to C$25.00 in a research report on Thursday, October 6th. Barclays PLC raised their price target on shares of ARC Resources from C$27.00 to C$28.00 in a research report on Tuesday, October 11th. Finally, CIBC raised their price target on shares of ARC Resources from C$24.50 to C$25.50 in a research report on Wednesday, October 19th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of C$25.69.
Shares of ARC Resources (TSE:ARX) traded up 0.73% during midday trading on Friday, hitting $23.49. 342,021 shares of the company’s stock traded hands. The company has a 50 day moving average price of $23.48 and a 200 day moving average price of $22.42. ARC Resources has a 1-year low of $14.43 and a 1-year high of $24.94. The firm’s market capitalization is $8.25 billion.
The firm also recently announced a dec 16 dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, November 28th.
About ARC Resources
ARC Resources Ltd. is a Canada-based oil and gas company. The Company’s business activities include the exploration, development and production of crude oil, natural gas and natural gas liquids in over five areas across western Canada. The Company is focused on the acquisition and development of resource-rich properties that provide an option for both near-term and long-term growth.
Receive News & Stock Ratings for ARC Resources Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ARC Resources Ltd and related stocks with our FREE daily email newsletter.