ARC Resources Ltd (ARX) to Post FY2017 Earnings of $0.99 Per Share, National Bank Financial Forecasts
ARC Resources Ltd (TSE:ARX) – Analysts at National Bank Financial lifted their FY2017 earnings estimates for shares of ARC Resources in a report released on Thursday. National Bank Financial analyst T. Wood now forecasts that the oil and gas exploration company will post earnings per share of $0.99 for the year, up from their prior forecast of $0.85. National Bank Financial currently has a “Outperform” rating and a $20.00 price objective on the stock. National Bank Financial also issued estimates for ARC Resources’ FY2018 earnings at $0.49 EPS.
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A number of other research firms also recently commented on ARX. Barclays PLC raised ARC Resources from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, April 18th. Royal Bank Of Canada dropped their price target on ARC Resources from C$25.00 to C$22.00 in a research note on Thursday, July 20th. Scotiabank reaffirmed an “outperform” rating and issued a C$29.00 price target on shares of ARC Resources in a research note on Thursday, May 4th. Finally, TD Securities dropped their price target on ARC Resources from C$23.00 to C$22.00 and set a “buy” rating for the company in a research note on Thursday, May 4th. Seven research analysts have rated the stock with a buy rating, ARC Resources presently has an average rating of “Buy” and an average target price of C$25.55.
Shares of ARC Resources (ARX) opened at 16.87 on Monday. The stock has a 50 day moving average of $17.02 and a 200 day moving average of $18.55. The company has a market cap of $5.96 billion and a price-to-earnings ratio of 21.33. ARC Resources has a 12-month low of $16.20 and a 12-month high of $24.94.
The firm also recently announced a aug 17 dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.05 per share. This represents a yield of 3.42%. The ex-dividend date is Thursday, July 27th.
In other ARC Resources news, Director John Patrick Dielwart sold 10,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of C$16.77, for a total transaction of C$167,700.00.
About ARC Resources
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