Arc Resources (OTCMKTS:AETUF) Shares Down 6.7% – Here’s Why
by Tristan Rich · The Markets DailyArc Resources Ltd. (OTCMKTS:AETUF – Get Free Report) shares fell 6.7% during trading on Wednesday . The company traded as low as $18.66 and last traded at $18.66. 29,752 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 214,316 shares. The stock had previously closed at $20.00.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on AETUF. Raymond James Financial cut Arc Resources from a “moderate buy” rating to a “hold” rating in a research note on Friday, February 6th. National Bank Financial cut Arc Resources from an “outperform” rating to a “sector perform” rating in a research note on Friday, February 6th. Zacks Research upgraded Arc Resources from a “hold” rating to a “strong-buy” rating in a research note on Monday. Roth Mkm began coverage on Arc Resources in a research note on Friday, December 19th. They issued a “buy” rating for the company. Finally, Scotiabank upgraded Arc Resources to a “hold” rating in a research note on Wednesday, April 1st. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.
Read Our Latest Report on Arc Resources
Arc Resources Stock Down 5.9%
The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.00 and a beta of 0.20. The stock has a fifty day moving average of $19.21 and a two-hundred day moving average of $18.55. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.70 and a quick ratio of 0.69.
Arc Resources (OTCMKTS:AETUF – Get Free Report) last posted its quarterly earnings data on Thursday, February 5th. The energy company reported $0.32 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.32. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.07 billion. Arc Resources had a return on equity of 15.49% and a net margin of 22.03%. Sell-side analysts anticipate that Arc Resources Ltd. will post 2.23 earnings per share for the current year.
Arc Resources Company Profile
Arc Resources Ltd., trading on the OTC Markets under the ticker AETUF, is a Canadian energy company primarily engaged in the exploration, development and production of natural gas, condensate and natural gas liquids. Headquartered in Calgary, Alberta, the company’s core operations are concentrated in the Montney formation, a premier resource play extending across northeastern British Columbia and northwestern Alberta. Arc’s portfolio emphasizes liquids-rich gas production supported by proprietary midstream infrastructure, including gas processing facilities, pipelines and water management systems.
Since its formation in the mid-1990s as Arc Energy Trust and its conversion to a corporation in 2015, Arc Resources has pursued a disciplined growth strategy focused on operational efficiency, cost control and sustainable development.