Arconic (NYSE:ARNC) Releases FY19 Earnings Guidance

Arconic (NYSE:ARNC) issued an update on its FY19 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $1.95-2.05 for the period, compared to the Thomson Reuters consensus estimate of $1.83. The company issued revenue guidance of $14.3-14.6, compared to the consensus revenue estimate of $14.36 billion.Arconic also updated its Q3 guidance to $0.47-0.53 EPS.

Shares of Arconic stock traded down $0.60 during mid-day trading on Friday, hitting $23.76. 4,908,393 shares of the stock were exchanged, compared to its average volume of 2,272,209. Arconic has a 12 month low of $15.63 and a 12 month high of $26.40. The firm’s 50-day moving average is $25.10. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $10.93 billion, a P/E ratio of 17.47 and a beta of 1.50.

Arconic (NYSE:ARNC) last posted its earnings results on Friday, August 2nd. The basic materials company reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.08. Arconic had a net margin of 4.86% and a return on equity of 13.53%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Arconic will post 2 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, August 25th. Shareholders of record on Friday, August 2nd will be given a dividend of $0.02 per share. The ex-dividend date is Thursday, August 1st. This represents a $0.08 annualized dividend and a dividend yield of 0.34%. Arconic’s dividend payout ratio is currently 5.88%.

Several equities analysts have commented on ARNC shares. Jefferies Financial Group lifted their target price on shares of Arconic from $23.00 to $30.00 and gave the stock a buy rating in a research report on Monday, July 1st. Goldman Sachs Group raised shares of Arconic from a neutral rating to a buy rating and lifted their target price for the stock from $21.00 to $26.00 in a research report on Thursday, May 2nd. Longbow Research cut shares of Arconic from a buy rating to a neutral rating in a research report on Thursday, July 18th. ValuEngine cut shares of Arconic from a hold rating to a sell rating in a research report on Thursday. Finally, Morgan Stanley lifted their target price on shares of Arconic from $21.00 to $23.00 and gave the stock an equal weight rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $23.47.

Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Earnings History and Estimates for Arconic (NYSE:ARNC)

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