Arconic Inc (NYSE:ARNC) – Analysts at Jefferies Financial Group raised their FY2018 earnings per share (EPS) estimates for shares of Arconic in a research note issued on Monday, October 29th. Jefferies Financial Group analyst M. Englert now expects that the basic materials company will post earnings per share of $1.29 for the year, up from their previous forecast of $1.28. Jefferies Financial Group currently has a “Buy” rating and a $25.00 target price on the stock. Jefferies Financial Group also issued estimates for Arconic’s FY2019 earnings at $1.56 EPS and FY2020 earnings at $1.80 EPS.
Other equities research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Arconic from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Seaport Global Securities reaffirmed a “buy” rating on shares of Arconic in a research report on Wednesday, July 18th. TheStreet raised shares of Arconic from a “d+” rating to a “c-” rating in a research report on Monday, October 15th. Cowen reaffirmed a “hold” rating and set a $15.00 price objective on shares of Arconic in a research report on Tuesday, July 31st. Finally, Morgan Stanley set a $20.00 price objective on shares of Arconic and gave the company a “hold” rating in a research report on Monday, July 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Arconic has an average rating of “Hold” and an average target price of $24.20.
Shares of NYSE:ARNC opened at $21.27 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 2.03 and a debt-to-equity ratio of 1.19. Arconic has a fifty-two week low of $16.47 and a fifty-two week high of $31.17. The stock has a market cap of $9.51 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.76 and a beta of 1.31.
Arconic (NYSE:ARNC) last released its earnings results on Tuesday, October 30th. The basic materials company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Arconic had a negative net margin of 2.19% and a positive return on equity of 12.94%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter in the previous year, the firm earned $0.25 EPS. The company’s revenue was up 8.9% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Guardian Investment Management grew its position in Arconic by 7.5% in the 3rd quarter. Guardian Investment Management now owns 33,687 shares of the basic materials company’s stock worth $742,000 after purchasing an additional 2,355 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Arconic by 5.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 60,745 shares of the basic materials company’s stock worth $1,033,000 after purchasing an additional 2,924 shares during the last quarter. IFM Investors Pty Ltd grew its position in Arconic by 14.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 23,466 shares of the basic materials company’s stock worth $516,000 after purchasing an additional 2,953 shares during the last quarter. Bell & Brown Wealth Advisors LLC grew its position in Arconic by 17.8% in the 2nd quarter. Bell & Brown Wealth Advisors LLC now owns 20,142 shares of the basic materials company’s stock worth $343,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Intact Investment Management Inc. grew its position in Arconic by 22.1% in the 2nd quarter. Intact Investment Management Inc. now owns 17,700 shares of the basic materials company’s stock worth $301,000 after purchasing an additional 3,200 shares during the last quarter. Hedge funds and other institutional investors own 82.95% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Sunday, November 25th. Shareholders of record on Friday, November 2nd will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 1st. Arconic’s dividend payout ratio (DPR) is 19.67%.
Arconic Company Profile
Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions produces and sells fastening systems and seamless rolled rings; investment castings, including airfoils and forged jet engine components; and extruded, machined, and formed aircraft parts, as well as various forged, extruded, and machined metal products.
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