$283.86 Million in Sales Expected for Antero Midstream Corp (NYSE:AM) This Quarter

Equities research analysts expect that Antero Midstream Corp (NYSE:AM) will report $283.86 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Antero Midstream’s earnings, with estimates ranging from $268.74 million to $297.00 million. Antero Midstream posted sales of $37.82 million in the same quarter last year, which would indicate a positive year over year growth rate of 650.6%. The business is scheduled to report its next earnings results on Wednesday, October 30th.

On average, analysts expect that Antero Midstream will report full year sales of $1.11 billion for the current year, with estimates ranging from $1.07 billion to $1.15 billion. For the next financial year, analysts expect that the business will post sales of $1.26 billion, with estimates ranging from $1.13 billion to $1.47 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Antero Midstream.

Antero Midstream (NYSE:AM) last released its quarterly earnings data on Wednesday, July 31st. The pipeline company reported $0.15 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.07). The company had revenue of $255.62 million during the quarter, compared to analysts’ expectations of $283.69 million. Antero Midstream had a return on equity of 10.52% and a net margin of 29.31%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year.

AM has been the topic of several analyst reports. Mitsubishi UFJ Financial Group downgraded Antero Midstream from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $17.00 to $13.00 in a report on Friday, August 2nd. Citigroup began coverage on Antero Midstream in a report on Tuesday, May 28th. They set a “buy” rating and a $15.00 price target on the stock. ValuEngine downgraded Antero Midstream from a “sell” rating to a “strong sell” rating in a report on Friday, July 19th. Stifel Nicolaus downgraded Antero Midstream from a “buy” rating to a “hold” rating and reduced their price target for the company from $14.00 to $11.00 in a report on Thursday, August 1st. Finally, Barclays restated a “hold” rating and set a $16.00 price target on shares of Antero Midstream in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. Antero Midstream 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 company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $12.61, for a total transaction of $23,020,816.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider K. Phil Yoo sold 20,000 shares of the company’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 value of $263,400.00. The disclosure for this sale can be found here.

Several hedge funds have recently bought and sold shares of AM. Lee Financial Co purchased a new position in shares of Antero Midstream during the 2nd quarter worth approximately $61,000. Cypress Wealth Advisors LLC grew its holdings in shares of Antero Midstream by 80.9% during the 1st quarter. Cypress Wealth Advisors LLC now owns 90,511 shares of the pipeline company’s stock worth $1,247,000 after acquiring an additional 40,486 shares during the period. JJJ Advisors Inc. grew its holdings in shares of Antero Midstream by 4,661.9% during the 1st quarter. JJJ Advisors Inc. now owns 190,284 shares of the pipeline company’s stock worth $2,622,000 after acquiring an additional 186,288 shares during the period. Northern Trust Corp grew its holdings in shares of Antero Midstream by 0.3% during the 4th quarter. Northern Trust Corp now owns 161,922 shares of the pipeline company’s stock worth $3,463,000 after acquiring an additional 512 shares during the period. Finally, Pinnacle Holdings LLC grew its holdings in shares of Antero Midstream by 2.1% during the 2nd quarter. Pinnacle Holdings LLC now owns 317,889 shares of the pipeline company’s stock worth $3,643,000 after acquiring an additional 6,528 shares during the period. Hedge funds and other institutional investors own 61.72% of the company’s stock.

Shares of AM traded up $0.22 during trading hours on Monday, hitting $7.74. The company had a trading volume of 6,923,400 shares, compared to its average volume of 3,951,438. The firm has a market cap of $3.72 billion, a P/E ratio of 23.45, a P/E/G ratio of 1.62 and a beta of 1.19. The stock’s 50 day moving average price is $9.76 and its 200 day moving average price is $14.58. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.64. Antero Midstream has a 52-week low of $6.55 and a 52-week high of $19.57.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Friday, July 26th were issued a dividend of $0.308 per share. This represents a $1.23 dividend on an annualized basis and a yield of 15.92%. The ex-dividend date of this dividend was Thursday, July 25th. This is an increase from Antero Midstream’s previous quarterly dividend of $0.30. Antero Midstream’s payout ratio is currently 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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Earnings History and Estimates for Antero Midstream (NYSE:AM)

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