$0.48 EPS Expected for Arconic Inc (ARNC) This Quarter

Brokerages expect that Arconic Inc (NYSE:ARNC) will announce earnings of $0.48 per share for the current quarter, Zacks reports. Three analysts have made estimates for Arconic’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.47. Arconic reported earnings of $0.37 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 29.7%. The business is expected to report its next quarterly earnings results on Tuesday, July 30th.

On average, analysts expect that Arconic will report full year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.75 to $1.83. For the next year, analysts forecast that the business will post earnings of $2.00 per share, with EPS estimates ranging from $1.93 to $2.10. Zacks’ EPS averages are an average based on a survey of research analysts that cover Arconic.

Arconic (NYSE:ARNC) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Arconic had a return on equity of 13.53% and a net margin of 4.86%. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.53 billion. During the same period in the previous year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 2.8% compared to the same quarter last year.



ARNC has been the topic of a number of research reports. Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Monday, March 18th. ValuEngine upgraded Arconic from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Goldman Sachs Group upgraded Arconic from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $26.00 in a research report on Thursday, May 2nd. Finally, Cowen restated a “hold” rating and set a $20.00 price objective on shares of Arconic in a research report on Friday, February 8th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $22.61.

Shares of ARNC stock traded up $0.16 during trading hours on Friday, reaching $22.02. 94,625 shares of the company’s stock were exchanged, compared to its average volume of 4,309,981. Arconic has a fifty-two week low of $15.63 and a fifty-two week high of $23.60. The firm has a market cap of $9.65 billion, a PE ratio of 16.25 and a beta of 1.53. The company has a quick ratio of 0.94, a current ratio of 1.65 and a debt-to-equity ratio of 1.15.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, May 25th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Thursday, May 2nd. Arconic’s dividend payout ratio is presently 5.88%.

In related news, Chairman John C. Plant purchased 105,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were purchased at an average cost of $18.67 per share, for a total transaction of $1,960,350.00. Following the completion of the transaction, the chairman now directly owns 28,282 shares of the company’s stock, valued at approximately $528,024.94. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Rajiv Gupta purchased 22,603 shares of the stock in a transaction on Thursday, May 2nd. The stock was bought at an average price of $22.10 per share, for a total transaction of $499,526.30. Following the completion of the transaction, the director now directly owns 38,420 shares of the company’s stock, valued at $849,082. The disclosure for this purchase can be found here. Insiders acquired 352,603 shares of company stock worth $6,798,776 over the last quarter. Company insiders own 0.14% of the company’s stock.

Large investors have recently made changes to their positions in the business. CWM LLC grew its position in Arconic by 1,397.5% in the first quarter. CWM LLC now owns 1,827 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,705 shares during the period. Liberty Wealth Management LLC grew its holdings in shares of Arconic by 3,808.2% during the first quarter. Liberty Wealth Management LLC now owns 1,915 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 1,866 shares during the last quarter. CSat Investment Advisory L.P. grew its holdings in shares of Arconic by 31.6% during the first quarter. CSat Investment Advisory L.P. now owns 1,949 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 468 shares during the last quarter. Osborn Williams & Donohoe LLC bought a new stake in shares of Arconic during the first quarter worth $39,000. Finally, Parallel Advisors LLC grew its holdings in shares of Arconic by 560.9% during the first quarter. Parallel Advisors LLC now owns 2,280 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 1,935 shares during the last quarter. Hedge funds and other institutional investors own 89.14% of the company’s stock.

Arconic Company Profile

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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