ARKO (NASDAQ:ARKO) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS
ARKO (NASDAQ:ARKO) reported quarterly earnings of $0.10 EPS, missing expectations by $0.02. Revenue was $2.02 billion, slightly above the $2 billion estimate. The company has a return on equity of 5.50% and a net margin of 0.18%. ARKO's stock rose 2.9% to $4.55, with a market cap of $512.98 million. Analysts have mixed ratings, with a consensus price target of $7.13. Institutional investors hold 78.29% of the stock, indicating strong interest in the company.
ARKO (NASDAQ:ARKO - Get Free Report) announced its quarterly earnings results on Wednesday. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.02), FiscalAI reports. ARKO had a return on equity of 5.50% and a net margin of 0.18%.The firm had revenue of $2.02 billion for the quarter, compared to analysts' expectations of $2 billion.
ARKO Trading Up 2.9%
NASDAQ ARKO traded up $0.13 during trading hours on Wednesday, hitting $4.55. 425,017 shares of the company's stock were exchanged, compared to its average volume of 564,440. The business's 50 day moving average is $4.58 and its 200-day moving average is $4.55. The company has a debt-to-equity ratio of 4.07, a quick ratio of 1.11 and a current ratio of 1.55. ARKO has a 12-month low of $3.51 and a 12-month high of $7.84. The firm has a market capitalization of $512.98 million, a P/E ratio of 56.88 and a beta of 0.77.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in shares of ARKO by 193.1% in the second quarter. Tower Research Capital LLC TRC now owns 12,317 shares of the company's stock worth $52,000 after acquiring an additional 8,115 shares during the last quarter. Creative Planning raised its stake in ARKO by 37.9% during the second quarter. Creative Planning now owns 15,156 shares of the company's stock worth $64,000 after purchasing an additional 4,163 shares during the period. CANADA LIFE ASSURANCE Co acquired a new position in shares of ARKO in the 2nd quarter valued at $88,000. Engineers Gate Manager LP purchased a new stake in shares of ARKO during the 2nd quarter valued at $88,000. Finally, Cerity Partners LLC purchased a new stake in shares of ARKO during the 2nd quarter valued at $95,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
ARKO has been the topic of a number of research analyst reports. Raymond James Financial set a $8.00 target price on ARKO and gave the stock a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen raised shares of ARKO from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research cut shares of ARKO from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of ARKO in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $7.13.
Check Out Our Latest Stock Report on ARKO
About ARKO
(Get Free Report)Arko Corp. operates convenience stores in the United States. It operates through Retail, Wholesale, Fleet Fueling, and GPMP segments. The Retail segment engages in the sale of fuel and merchandise to retail consumers. Its Wholesale segment supplies fuel to third-party dealers and consignment agents. The Fleet Fueling segment supplies fuel to proprietary and third-party cardlock, and issuance of proprietary fuel cards.
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