Equities research analysts expect Arconic Inc (NASDAQ:ARNC) to post earnings of $0.28 per share for the current quarter, according to Zacks. Three analysts have made estimates for Arconic’s earnings, with estimates ranging from $0.27 to $0.30. Arconic posted earnings of $0.32 per share in the same quarter last year, which would indicate a negative year over year growth rate of 12.5%. The business is expected to report its next earnings report on Tuesday, October 10th.
According to Zacks, analysts expect that Arconic will report full year earnings of $1.17 per share for the current fiscal year, with EPS estimates ranging from $1.15 to $1.20. For the next year, analysts expect that the firm will report earnings of $1.49 per share, with EPS estimates ranging from $1.43 to $1.52. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Arconic.
Arconic (NASDAQ:ARNC) last issued its quarterly earnings data on Monday, July 24th. The basic materials company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. Arconic had a return on equity of 14.01% and a net margin of 6.50%. The business’s revenue was up .8% compared to the same quarter last year.
ARNC has been the subject of several research analyst reports. J P Morgan Chase & Co cut Arconic to a “neutral” rating and set a $30.00 target price for the company. in a research report on Wednesday, April 26th. Morgan Stanley reiterated an “equal weight” rating and set a $28.00 target price on shares of Arconic in a research report on Tuesday, June 13th. Vetr cut Arconic from a “hold” rating to a “sell” rating and set a $27.00 target price for the company. in a research report on Monday, May 15th. Zacks Investment Research cut Arconic from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. Finally, Cowen and Company restated a “hold” rating and set a $25.00 price target on shares of Arconic in a report on Monday, June 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $26.88.
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Arconic (NASDAQ:ARNC) traded up 0.04% during mid-day trading on Friday, reaching $24.29. The company had a trading volume of 2,601,071 shares. The firm has a 50-day moving average of $24.47 and a 200 day moving average of $26.38. Arconic has a 1-year low of $16.75 and a 1-year high of $30.69. The company’s market capitalization is $10.71 billion.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.99%. The ex-dividend date is Wednesday, August 2nd.
In other news, Director Patricia F. Russo purchased 15,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average price of $24.57 per share, for a total transaction of $368,550.00. Following the acquisition, the director now directly owns 7,928 shares of the company’s stock, valued at approximately $194,790.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrice E. Merrin purchased 10,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $27.17 per share, with a total value of $271,700.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at $135,850. The disclosure for this purchase can be found here. Insiders have acquired a total of 43,325 shares of company stock valued at $1,112,056 in the last 90 days.
A number of institutional investors have recently added to or reduced their stakes in the stock. Credit Agricole S A boosted its position in Arconic by 5.5% in the first quarter. Credit Agricole S A now owns 891,714 shares of the basic materials company’s stock valued at $23,488,000 after buying an additional 46,261 shares in the last quarter. Oxford Asset Management bought a new stake in Arconic during the first quarter valued at about $1,737,000. Gluskin Sheff & Assoc Inc. bought a new stake in Arconic during the first quarter valued at about $22,190,000. Vanguard Group Inc. raised its stake in Arconic by 3.9% in the first quarter. Vanguard Group Inc. now owns 41,877,016 shares of the basic materials company’s stock valued at $1,103,040,000 after buying an additional 1,559,763 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in Arconic by 8.0% in the first quarter. Clearbridge Investments LLC now owns 15,819 shares of the basic materials company’s stock valued at $417,000 after buying an additional 1,167 shares during the last quarter.
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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