Zacks: Brokerages Anticipate Antero Midstream Co. (NYSE:AM) Will Post Quarterly Sales of $229.98 Million

Equities research analysts predict that Antero Midstream Co. (NYSE:AMGet Rating) will announce $229.98 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Antero Midstream’s earnings, with the lowest sales estimate coming in at $217.91 million and the highest estimate coming in at $242.05 million. Antero Midstream posted sales of $232.79 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.2%. The firm is expected to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Antero Midstream will report full year sales of $906.16 million for the current financial year, with estimates ranging from $883.90 million to $928.42 million. For the next year, analysts anticipate that the firm will post sales of $964.46 million, with estimates ranging from $926.63 million to $1.00 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Antero Midstream.

Antero Midstream (NYSE:AMGet Rating) last issued its earnings results on Wednesday, April 27th. The pipeline company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $218.49 million during the quarter, compared to analyst estimates of $216.32 million. Antero Midstream had a net margin of 36.77% and a return on equity of 17.41%. During the same quarter last year, the company earned $0.21 earnings per share.

Several research firms recently issued reports on AM. Barclays cut shares of Antero Midstream from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $11.00 to $10.00 in a research report on Wednesday, March 2nd. Wells Fargo & Company upgraded shares of Antero Midstream from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $12.00 to $13.00 in a research report on Thursday, April 28th. Finally, StockNews.com began coverage on shares of Antero Midstream in a research report on Thursday, March 31st. They set a “hold” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $11.25.

In other news, Director David H. Keyte purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average price of $9.80 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now directly owns 59,587 shares of the company’s stock, valued at $583,952.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brendan E. Krueger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was purchased at an average price of $10.54 per share, with a total value of $31,620.00. Following the purchase, the insider now directly owns 280,430 shares of the company’s stock, valued at $2,955,732.20. The disclosure for this purchase can be found here. In the last three months, insiders sold 865,620 shares of company stock valued at $8,963,071. Insiders own 3.29% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd raised its holdings in Antero Midstream by 2,155.9% during the first quarter. Covestor Ltd now owns 2,301 shares of the pipeline company’s stock worth $25,000 after purchasing an additional 2,199 shares in the last quarter. SRS Capital Advisors Inc. purchased a new position in Antero Midstream during the 1st quarter worth $26,000. Moors & Cabot Inc. acquired a new position in Antero Midstream in the third quarter valued at $212,000. Rational Advisors LLC raised its holdings in shares of Antero Midstream by 62.0% in the first quarter. Rational Advisors LLC now owns 3,806 shares of the pipeline company’s stock valued at $41,000 after buying an additional 1,456 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC raised its holdings in shares of Antero Midstream by 235.7% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 3,844 shares of the pipeline company’s stock valued at $37,000 after buying an additional 2,699 shares during the last quarter. 53.92% of the stock is currently owned by institutional investors.

Shares of NYSE AM traded up $0.24 during mid-day trading on Friday, reaching $10.94. The company’s stock had a trading volume of 2,478,015 shares, compared to its average volume of 3,691,671. Antero Midstream has a 1-year low of $8.42 and a 1-year high of $11.71. The stock has a market capitalization of $5.23 billion, a P/E ratio of 15.51 and a beta of 2.70. The stock has a 50-day moving average of $10.63 and a two-hundred day moving average of $10.21. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.58 and a current ratio of 0.58.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 11th. Stockholders of record on Wednesday, April 27th were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 8.23%. The ex-dividend date was Tuesday, April 26th. Antero Midstream’s payout ratio is 130.44%.

About Antero Midstream (Get Rating)

Antero Midstream Corporation owns, operates, and develops midstream energy infrastructure. It operates through Gathering and Processing, and Water Handling segments. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.

Read More

Get a free copy of the Zacks research report on Antero Midstream (AM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Antero Midstream (NYSE:AM)

Receive News & Ratings for Antero Midstream Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Antero Midstream and related companies with MarketBeat.com's FREE daily email newsletter.