Brokerages Anticipate Antero Midstream Corp (NYSE:AM) Will Announce Quarterly Sales of $283.86 Million

Wall Street brokerages predict that Antero Midstream Corp (NYSE:AM) will report sales of $283.86 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Antero Midstream’s earnings. The highest sales estimate is $297.00 million and the lowest is $268.74 million. Antero Midstream posted sales of $37.82 million during the same quarter last year, which would indicate a positive year over year growth rate of 650.6%. The company is scheduled to report its next earnings results on Wednesday, October 30th.

According to Zacks, analysts expect that Antero Midstream will report full-year sales of $1.11 billion for the current fiscal year, with estimates ranging from $1.07 billion to $1.15 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.26 billion, with estimates ranging from $1.13 billion to $1.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Antero Midstream.

Antero Midstream (NYSE:AM) last announced its earnings results on Wednesday, July 31st. The pipeline company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.07). Antero Midstream had a return on equity of 10.52% and a net margin of 29.31%. The business had revenue of $255.62 million for the quarter, compared to analysts’ expectations of $283.69 million. The firm’s quarterly revenue was up 5.4% on a year-over-year basis.

AM has been the topic of several recent research reports. Citigroup initiated coverage on shares of Antero Midstream in a research note on Tuesday, May 28th. They set a “buy” rating and a $15.00 target price on the stock. ValuEngine downgraded shares of Antero Midstream from a “sell” rating to a “strong sell” rating in a research note on Friday, July 19th. Barclays reaffirmed a “hold” rating and set a $16.00 target price on shares of Antero Midstream in a research note on Thursday, May 9th. Raymond James cut their target price on shares of Antero Midstream from $17.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, UBS Group downgraded shares of Antero Midstream from a “positive” rating to a “neutral” rating and cut their target price for the stock from $17.00 to $13.00 in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $21.00.

In other Antero Midstream news, Director Yorktown Viii Associates Llc sold 1,825,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $12.61, for a total transaction of $23,020,816.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider K. Phil Yoo sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $13.17, for a total transaction of $263,400.00. The disclosure for this sale can be found here. Insiders own 7.91% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Antero Midstream by 13.3% during the 4th quarter. BlackRock Inc. now owns 697,607 shares of the pipeline company’s stock worth $14,922,000 after acquiring an additional 82,131 shares in the last quarter. Cypress Wealth Advisors LLC boosted its holdings in shares of Antero Midstream by 80.9% in the 1st quarter. Cypress Wealth Advisors LLC now owns 90,511 shares of the pipeline company’s stock valued at $1,247,000 after buying an additional 40,486 shares in the last quarter. HITE Hedge Asset Management LLC acquired a new position in shares of Antero Midstream in the 1st quarter valued at $14,162,000. JJJ Advisors Inc. boosted its holdings in shares of Antero Midstream by 4,661.9% in the 1st quarter. JJJ Advisors Inc. now owns 190,284 shares of the pipeline company’s stock valued at $2,622,000 after buying an additional 186,288 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Antero Midstream by 15.3% in the 4th quarter. Deutsche Bank AG now owns 597,234 shares of the pipeline company’s stock valued at $12,774,000 after buying an additional 79,115 shares in the last quarter. Institutional investors own 59.19% of the company’s stock.

AM traded up $0.18 during trading hours on Monday, hitting $7.52. 8,672,200 shares of the company’s stock were exchanged, compared to its average volume of 6,954,787. Antero Midstream has a 12-month low of $6.55 and a 12-month high of $19.57. The firm has a 50 day moving average of $10.00 and a 200 day moving average of $14.68. The firm has a market cap of $3.50 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.53 and a beta of 1.19. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Friday, July 26th were issued a dividend of $0.308 per share. This represents a $1.23 annualized dividend and a yield of 16.38%. The ex-dividend date of this dividend was Thursday, July 25th. This is a boost from Antero Midstream’s previous quarterly dividend of $0.30. Antero Midstream’s payout ratio is 372.73%.

About Antero Midstream

Antero Midstream Corporation owns and operates midstream energy assets servicing rich gas production in North America. It owns and operates an integrated system of natural gas gathering pipelines, compression stations, processing and fractionation plants, and water handling and treatment assets in the Marcellus Shale and Utica Shale basins.

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