Equities analysts forecast that Arconic Inc (NASDAQ:ARNC) will announce sales of $3.09 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Arconic’s earnings, with estimates ranging from $3.08 billion to $3.11 billion. Arconic posted sales of $5.21 billion in the same quarter last year, which would indicate a negative year over year growth rate of 40.7%. The company is expected to report its next earnings results after the market closes on Monday, October 23rd.

On average, analysts expect that Arconic will report full year sales of $3.09 billion for the current financial year, with estimates ranging from $12.40 billion to $12.53 billion. For the next year, analysts expect that the firm will post sales of $12.95 billion per share, with estimates ranging from $12.48 billion to $13.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Arconic.

Arconic (NASDAQ:ARNC) last posted its quarterly earnings results on Monday, July 24th. The basic materials company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.18 billion. Arconic’s quarterly revenue was up .8% on a year-over-year basis.

A number of equities research analysts recently commented on ARNC shares. Vetr cut shares of Arconic from a “hold” rating to a “sell” rating and set a $27.00 price objective on the stock. in a research note on Monday, May 15th. Morgan Stanley reaffirmed an “equal weight” rating and set a $28.00 price target on shares of Arconic in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of Arconic from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Tuesday, June 20th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Arconic in a research note on Saturday, June 24th. Finally, Cowen and Company reaffirmed a “hold” rating and set a $25.00 price target on shares of Arconic in a research note on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.53.

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Arconic (NASDAQ:ARNC) opened at 24.26 on Friday. The stock’s market capitalization is $10.70 billion. Arconic has a 52 week low of $16.75 and a 52 week high of $30.69. The firm’s 50-day moving average is $24.97 and its 200-day moving average is $26.17.

The company also recently declared a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 4th were paid a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.24 annualized dividend and a dividend yield of 0.99%.

In related news, Director Patricia F. Russo acquired 15,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $24.57 per share, for a total transaction of $368,550.00. Following the acquisition, the director now directly owns 7,928 shares in the company, valued at approximately $194,790.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Elmer L. Doty acquired 6,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were bought at an average price of $24.51 per share, for a total transaction of $147,060.00. Following the completion of the acquisition, the director now owns 4,409 shares in the company, valued at $108,064.59. The disclosure for this purchase can be found here. Insiders have acquired a total of 26,000 shares of company stock worth $640,310 over the last ninety days.

Several hedge funds have recently made changes to their positions in ARNC. Harris Associates L P lifted its holdings in shares of Arconic by 151.0% during the 2nd quarter. Harris Associates L P now owns 13,439,188 shares of the basic materials company’s stock worth $304,398,000 after acquiring an additional 8,084,588 shares during the period. Orbis Allan Gray Ltd lifted its holdings in shares of Arconic by 50.9% during the 2nd quarter. Orbis Allan Gray Ltd now owns 22,812,295 shares of the basic materials company’s stock worth $517,132,000 after acquiring an additional 7,696,839 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Arconic by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 41,877,016 shares of the basic materials company’s stock worth $1,103,040,000 after acquiring an additional 1,559,763 shares during the period. Permian Investment Partners LP purchased a new position in shares of Arconic during the 2nd quarter worth about $34,975,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Arconic by 33.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,813,376 shares of the basic materials company’s stock worth $131,682,000 after acquiring an additional 1,468,173 shares during the period.

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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Earnings History and Estimates for Arconic (NASDAQ:ARNC)

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