Cormark Equities Analysts Lower Earnings Estimates for ARC Resources Ltd (TSE:ARX)

ARC Resources Ltd (TSE:ARX) – Investment analysts at Cormark cut their Q3 2017 EPS estimates for ARC Resources in a research report issued on Friday. Cormark analyst A. Arif now forecasts that the oil and gas exploration company will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.12. Cormark also issued estimates for ARC Resources’ Q4 2017 earnings at $0.19 EPS, Q1 2018 earnings at $0.20 EPS, Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.20 EPS and FY2018 earnings at $0.82 EPS.

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Several other research analysts have also recently weighed in on ARX. Barclays PLC upgraded ARC Resources from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, April 18th. Royal Bank Of Canada lowered their price objective on ARC Resources from C$27.00 to C$25.00 and set an “outperform” rating on the stock in a research report on Thursday, May 4th. TD Securities lowered their price objective on ARC Resources from C$23.00 to C$22.00 and set a “buy” rating on the stock in a research report on Thursday, May 4th. Scotiabank reiterated an “outperform” rating and set a C$29.00 price objective on shares of ARC Resources in a research report on Thursday, May 4th. Finally, National Bank Financial lowered their price objective on ARC Resources from C$22.00 to C$19.00 in a research report on Friday, June 23rd. Seven equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of C$25.55.

Shares of ARC Resources (TSE ARX) opened at 16.52 on Monday. The stock has a 50 day moving average of $17.01 and a 200 day moving average of $18.49. ARC Resources has a 52 week low of $15.89 and a 52 week high of $24.94. The firm has a market cap of $5.84 billion and a P/E ratio of 20.88.

In other news, Director John Patrick Dielwart sold 10,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of C$16.77, for a total transaction of C$167,700.00.

The business also recently announced a aug 17 dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be issued a dividend of $0.05 per share. This represents a dividend yield of 3.42%. The ex-dividend date of this dividend is Thursday, July 27th.

ARC Resources Company Profile

Earnings History and Estimates for ARC Resources (TSE:ARX)

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