Arconic Inc (NASDAQ:ARNC) will post its quarterly earnings results before the market opens on Monday, July 24th. Analysts expect Arconic to post earnings of $0.26 per share for the quarter.
Arconic (NASDAQ:ARNC) last issued its quarterly earnings data on Tuesday, April 25th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.08. Arconic had a return on equity of 23.34% and a net margin of 10.09%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3 billion. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, analysts expect Arconic to post $1.16 EPS for the current fiscal year and $1.47 EPS for the next fiscal year.
Shares of Arconic Inc (ARNC) opened at 25.21 on Friday. The stock’s market capitalization is $11.11 billion. The firm’s 50-day moving average price is $25.24 and its 200-day moving average price is $25.90. Arconic Inc has a 12 month low of $16.75 and a 12 month high of $30.69.
In related news, Director Patrice E. Merrin bought 10,000 shares of the stock in a transaction dated Tuesday, May 30th. The shares were acquired at an average cost of $27.17 per share, for a total transaction of $271,700.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $135,850. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Christopher L. Ayers bought 7,325 shares of the stock in a transaction dated Friday, May 26th. The shares were bought at an average price of $27.31 per share, for a total transaction of $200,045.75. Following the completion of the acquisition, the director now owns 7,425 shares in the company, valued at $202,776.75. The disclosure for this purchase can be found here.
ARNC has been the topic of several recent research reports. Cowen and Company restated a “market perform” rating and set a $25.00 target price on shares of Arconic in a report on Wednesday, March 29th. J P Morgan Chase & Co initiated coverage on Arconic in a report on Tuesday, April 18th. They set a “neutral” rating and a $29.00 target price on the stock. Morgan Stanley restated an “equal weight” rating and set a $28.00 target price on shares of Arconic in a report on Tuesday, June 13th. Vetr cut Arconic from a “hold” rating to a “sell” rating and set a $27.00 target price on the stock. in a report on Monday, May 15th. Finally, Deutsche Bank AG restated a “buy” rating and set a $32.00 target price on shares of Arconic in a report on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. Arconic presently has a consensus rating of “Hold” and a consensus target price of $26.73.
About Arconic
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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