ARC Resources Ltd to Post FY2016 Earnings of $0.24 Per Share, National Bank Financial Forecasts (ARX)
ARC Resources Ltd (TSE:ARX) – Stock analysts at National Bank Financial cut their FY2016 earnings per share estimates for ARC Resources in a research report issued to clients and investors on Thursday. National Bank Financial analyst T. Wood now anticipates that the firm will earn $0.24 per share for the year, down from their previous estimate of $0.25. National Bank Financial has a “Sector Perform” rating and a $27.00 price target on the stock. National Bank Financial also issued estimates for ARC Resources’ FY2017 earnings at $0.40 EPS.
Several other analysts have also commented on the stock. TD Securities reiterated a “hold” rating and issued a C$26.00 price target on shares of ARC Resources in a research report on Tuesday. Royal Bank Of Canada increased their price target on shares of ARC Resources from C$26.00 to C$27.00 and gave the company an “outperform” rating in a research report on Tuesday. Scotiabank restated an “outperform” rating and set a C$29.00 target price on shares of ARC Resources in a research report on Friday, November 18th. RBC Capital Markets raised their target price on shares of ARC Resources from C$25.00 to C$26.00 in a research report on Wednesday, November 16th. Finally, Raymond James Financial Inc. raised their target price on shares of ARC Resources from C$27.50 to C$28.50 and gave the stock an “outperform” rating in a research report on Wednesday, November 16th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. ARC Resources has an average rating of “Buy” and an average price target of C$26.00.
ARC Resources (TSE:ARX) opened at 23.97 on Monday. ARC Resources has a 52 week low of $14.43 and a 52 week high of $24.94. The stock’s market cap is $8.44 billion. The company has a 50-day moving average price of $23.49 and a 200-day moving average price of $22.51.
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 paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 28th.
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ARC Resources Company Profile
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.
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