Arconic Inc (ARNC) Expected to Post Quarterly Sales of $3.33 Billion

Wall Street brokerages predict that Arconic Inc (NYSE:ARNC) will post sales of $3.33 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Arconic’s earnings, with the highest sales estimate coming in at $3.37 billion and the lowest estimate coming in at $3.28 billion. Arconic posted sales of $3.19 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.4%. The business is scheduled to announce its next quarterly earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Arconic will report full-year sales of $3.33 billion for the current year, with estimates ranging from $13.40 billion to $13.57 billion. For the next year, analysts expect that the firm will report sales of $14.05 billion per share, with estimates ranging from $13.81 billion to $14.22 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Arconic.

Arconic (NYSE:ARNC) last issued its quarterly earnings results on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. Arconic had a negative net margin of 0.57% and a positive return on equity of 11.29%. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the business posted $0.12 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year.

A number of brokerages have recently issued reports on ARNC. Cowen reiterated a “hold” rating and set a $25.00 price target on shares of Arconic in a research note on Thursday, February 1st. Morgan Stanley reiterated a “hold” rating and set a $27.00 price target on shares of Arconic in a research note on Tuesday, October 24th. Seaport Global Securities reiterated a “buy” rating and set a $32.00 price target on shares of Arconic in a research note on Tuesday, February 6th. Deutsche Bank set a $31.00 target price on shares of Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Vetr lowered shares of Arconic from a “buy” rating to a “hold” rating and set a $27.97 target price on the stock. in a research report on Monday, October 23rd. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Arconic currently has an average rating of “Buy” and a consensus price target of $29.77.

Arconic (NYSE:ARNC) opened at $25.36 on Friday. Arconic has a one year low of $21.75 and a one year high of $31.17. The company has a current ratio of 2.26, a quick ratio of 1.38 and a debt-to-equity ratio of 1.40. The stock has a market cap of $12,210.00, a PE ratio of -97.54, a PEG ratio of 0.85 and a beta of 0.93.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 4th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, May 3rd. This represents a $0.24 annualized dividend and a yield of 0.95%. Arconic’s payout ratio is currently -92.31%.

In related news, Director David P. Hess bought 40,300 shares of the stock in a transaction on Thursday, February 8th. The shares were bought at an average cost of $24.80 per share, for a total transaction of $999,440.00. Following the completion of the transaction, the director now owns 127,870 shares of the company’s stock, valued at approximately $3,171,176. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.12% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of Arconic by 74.5% in the third quarter. Janus Henderson Group PLC now owns 143,645 shares of the basic materials company’s stock valued at $3,574,000 after purchasing an additional 61,340 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Arconic by 41.2% in the third quarter. Nordea Investment Management AB now owns 146,279 shares of the basic materials company’s stock valued at $3,639,000 after purchasing an additional 42,702 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its position in shares of Arconic by 15.2% in the second quarter. Dynamic Technology Lab Private Ltd now owns 22,322 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 2,949 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Arconic by 24.6% in the second quarter. Toronto Dominion Bank now owns 150,125 shares of the basic materials company’s stock valued at $3,399,000 after purchasing an additional 29,635 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Arconic by 7.5% in the third quarter. Cubist Systematic Strategies LLC now owns 121,200 shares of the basic materials company’s stock valued at $3,015,000 after purchasing an additional 8,501 shares during the last quarter. Institutional investors own 74.55% of the company’s stock.

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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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