$0.49 Earnings Per Share Expected for Arconic Inc (NYSE:ARNC) This Quarter

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.

ARNC has been the topic of several research analyst reports. Barclays raised Arconic from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $20.00 to $31.00 in a research note on Wednesday. Longbow Research cut Arconic from a “buy” rating to a “neutral” rating in a research report on Thursday, July 18th. Jefferies Financial Group raised their price objective on Arconic from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Morgan Stanley lifted their price target on Arconic from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Cowen reaffirmed a “hold” rating and set a $24.00 price target on shares of Arconic in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $24.41.

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.

About Arconic

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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