Equities analysts expect Arconic Inc (NYSE:ARNC) to post $0.49 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Arconic’s earnings, with the highest EPS estimate coming in at $0.53 and the lowest estimate coming in at $0.46. Arconic reported earnings of $0.32 per share during the same quarter last year, which suggests a positive year over year growth rate of 53.1%. The business is expected to report its next quarterly earnings report on Tuesday, October 29th.
On average, analysts expect that Arconic will report full-year earnings of $1.94 per share for the current year, with EPS estimates ranging from $1.83 to $2.05. For the next fiscal year, analysts forecast that the firm will post earnings of $2.22 per share, with EPS estimates ranging from $2.00 to $2.45. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Arconic.
Arconic (NYSE:ARNC) last posted its earnings results on Friday, August 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.08. Arconic had a return on equity of 15.38% and a net margin of 3.13%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year.
Shares of ARNC traded down $0.21 during mid-day trading on Friday, hitting $25.22. 1,841,545 shares of the company’s stock traded hands, compared to its average volume of 4,547,916. The company has a quick ratio of 0.94, a current ratio of 1.66 and a debt-to-equity ratio of 1.23. Arconic has a 1 year low of $15.63 and a 1 year high of $26.40. The stock has a market cap of $11.12 billion, a price-to-earnings ratio of 18.54 and a beta of 1.50. The business has a 50-day simple moving average of $25.28.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, August 25th. Stockholders of record on Friday, August 2nd will be paid a dividend of $0.02 per share. The ex-dividend date is Thursday, August 1st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.32%. Arconic’s dividend payout ratio (DPR) is 5.88%.
In other Arconic news, Chairman John C. Plant acquired 30,463 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was acquired at an average cost of $24.13 per share, with a total value of $735,072.19. Following the purchase, the chairman now directly owns 28,282 shares in the company, valued at approximately $682,444.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Arconic by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,849,849 shares of the basic materials company’s stock valued at $81,770,000 after acquiring an additional 97,501 shares in the last quarter. Geode Capital Management LLC grew its stake in Arconic by 7.6% in the 4th quarter. Geode Capital Management LLC now owns 5,550,992 shares of the basic materials company’s stock worth $93,423,000 after acquiring an additional 390,464 shares during the period. Two Sigma Advisers LP purchased a new stake in Arconic in the 4th quarter worth approximately $1,597,000. Municipal Employees Retirement System of Michigan purchased a new stake in Arconic in the 4th quarter worth approximately $188,000. Finally, FMR LLC grew its stake in Arconic by 6,482.8% in the 4th quarter. FMR LLC now owns 4,526,809 shares of the basic materials company’s stock worth $76,322,000 after acquiring an additional 4,458,042 shares during the period. 83.64% of the stock is owned by institutional investors and hedge funds.
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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