Brokerages expect that Arconic Inc (NYSE:ARNC) will post $3.33 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Arconic’s earnings, with the lowest sales estimate coming in at $3.28 billion and the highest estimate coming in at $3.37 billion. Arconic posted sales of $3.19 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.4%. The firm is expected to issue its next earnings results on Tuesday, April 24th.
On average, analysts expect that Arconic will report full-year sales of $3.33 billion for the current year, with estimates ranging from $13.40 billion to $13.57 billion. For the next fiscal year, analysts anticipate that the company will post sales of $14.05 billion per share, with estimates ranging from $13.81 billion to $14.22 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Arconic.
Arconic (NYSE:ARNC) last released its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. The business had revenue of $3.27 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Arconic had a positive return on equity of 11.29% and a negative net margin of 0.57%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.12 EPS.
A number of research firms have recently weighed in on ARNC. Seaport Global Securities reiterated a “buy” rating and set a $32.00 price target on shares of Arconic in a report on Tuesday, February 6th. Cowen reiterated a “hold” rating and set a $25.00 price target on shares of Arconic in a report on Thursday, February 1st. Wells Fargo & Co began coverage on Arconic in a report on Thursday, January 4th. They set an “outperform” rating and a $35.00 price target for the company. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Deutsche Bank set a $31.00 price target on Arconic and gave the stock a “buy” rating in a report on Tuesday, October 24th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $29.77.
Arconic (ARNC) traded down $0.50 during midday trading on Friday, hitting $24.86. The stock had a trading volume of 3,331,675 shares, compared to its average volume of 4,526,899. The stock has a market cap of $11,970.00, a PE ratio of -95.62, a PEG ratio of 0.85 and a beta of 0.93. The company has a current ratio of 2.26, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. Arconic has a fifty-two week low of $21.75 and a fifty-two week high of $31.17.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 4th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 3rd. Arconic’s dividend payout ratio (DPR) is -92.31%.
In other news, Director David P. Hess bought 40,300 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was bought at an average cost of $24.80 per share, for a total transaction of $999,440.00. Following the acquisition, the director now directly owns 127,870 shares of the company’s stock, valued at approximately $3,171,176. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.12% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its holdings in Arconic by 74.5% during the 3rd quarter. Janus Henderson Group PLC now owns 143,645 shares of the basic materials company’s stock valued at $3,574,000 after acquiring an additional 61,340 shares during the period. Nordea Investment Management AB boosted its stake in shares of Arconic by 41.2% in the 3rd quarter. Nordea Investment Management AB now owns 146,279 shares of the basic materials company’s stock valued at $3,639,000 after buying an additional 42,702 shares during the period. Dynamic Technology Lab Private Ltd boosted its stake in shares of Arconic by 15.2% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after buying an additional 2,949 shares during the period. Toronto Dominion Bank boosted its stake in shares of Arconic by 24.6% in the 2nd quarter. Toronto Dominion Bank now owns 150,125 shares of the basic materials company’s stock valued at $3,399,000 after buying an additional 29,635 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of Arconic by 7.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 121,200 shares of the basic materials company’s stock valued at $3,015,000 after buying an additional 8,501 shares during the period. Institutional investors own 74.85% of the company’s stock.
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Arconic Company Profile
Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.
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