ARC Resources (TSE:ARX - Get Free Report) had its price target lowered by investment analysts at National Bankshares from C$32.00 to C$31.00 in a research note issued on Friday, BayStreet.CA reports. National Bankshares' target price indicates a potential upside of 38.45% from the company's current price.
Several other equities analysts have also recently issued reports on ARX. Desjardins boosted their target price on shares of ARC Resources from C$30.00 to C$31.50 and gave the company a "buy" rating in a research note on Tuesday, July 23rd. Cormark raised shares of ARC Resources to a "moderate buy" rating in a research note on Monday. UBS Group cut their price target on ARC Resources from C$33.00 to C$32.00 in a research note on Wednesday, July 10th. Canaccord Genuity Group increased their price target on ARC Resources from C$27.00 to C$29.00 and gave the stock a "strong-buy" rating in a research report on Friday, August 2nd. Finally, CIBC boosted their price objective on ARC Resources from C$31.00 to C$34.00 in a research note on Monday, July 15th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of C$30.32.
Get Our Latest Stock Analysis on ARC Resources
ARX traded up C$0.61 during midday trading on Friday, hitting C$22.39. 977,902 shares of the company were exchanged, compared to its average volume of 2,000,319. The company's 50 day simple moving average is C$23.79 and its 200 day simple moving average is C$24.40. The firm has a market capitalization of C$13.35 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.29 and a beta of 1.26. ARC Resources has a 1-year low of C$19.02 and a 1-year high of C$26.45. The company has a current ratio of 0.88, a quick ratio of 0.42 and a debt-to-equity ratio of 31.49.
ARC Resources (TSE:ARX - Get Free Report) last posted its earnings results on Thursday, August 1st. The oil and gas exploration company reported C$0.40 EPS for the quarter. ARC Resources had a return on equity of 15.83% and a net margin of 22.23%. The firm had revenue of C$1.15 billion for the quarter, compared to analyst estimates of C$1.03 billion. As a group, sell-side analysts predict that ARC Resources will post 3.2027972 earnings per share for the current year.
ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.
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