$0.25 EPS Expected for Arconic Inc (ARNC) This Quarter
Wall Street brokerages predict that Arconic Inc (NASDAQ:ARNC) will report $0.25 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Arconic’s earnings. The highest EPS estimate is $0.28 and the lowest is $0.23. Arconic reported earnings per share of $0.12 during the same quarter last year, which suggests a positive year-over-year growth rate of 108.3%. The business is expected to issue its next quarterly earnings results on Tuesday, January 30th.
On average, analysts expect that Arconic will report full year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $1.13 to $1.19. For the next year, analysts anticipate that the company will report earnings of $1.45 per share, with EPS estimates ranging from $1.38 to $1.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that follow Arconic.
Arconic (NASDAQ:ARNC) last issued its quarterly earnings data on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.02). Arconic had a net margin of 3.68% and a return on equity of 7.07%. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.09 billion. The firm’s quarterly revenue was up 3.1% compared to the same quarter last year.
ARNC has been the subject of several analyst reports. Zacks Investment Research raised Arconic from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, September 12th. Longbow Research raised Arconic from a “neutral” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, August 22nd. Vetr cut Arconic from a “strong-buy” rating to a “buy” rating and set a $28.78 price objective for the company. in a research report on Tuesday, July 25th. Seaport Global Securities raised Arconic from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Thursday, July 13th. Finally, Deutsche Bank AG set a $31.00 price objective on Arconic and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.18.
In other news, Director James F. Albaugh bought 5,000 shares of Arconic stock in a transaction dated Wednesday, August 9th. The stock was acquired at an average cost of $24.94 per share, with a total value of $124,700.00. Following the acquisition, the director now owns 9,409 shares of the company’s stock, valued at $234,660.46. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patricia F. Russo bought 15,000 shares of Arconic stock in a transaction dated Tuesday, August 15th. The stock was purchased at an average cost of $24.57 per share, with a total value of $368,550.00. Following the completion of the acquisition, the director now directly owns 7,928 shares in the company, valued at approximately $194,790.96. The disclosure for this purchase can be found here. Insiders bought a total of 26,000 shares of company stock valued at $640,310 over the last three months.
Several institutional investors have recently bought and sold shares of ARNC. Fiduciary Trust Co. purchased a new stake in Arconic during the 2nd quarter valued at approximately $111,000. Capstone Investment Advisors Netherlands B.V. raised its stake in Arconic by 47.9% during the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock valued at $112,000 after acquiring an additional 1,604 shares during the last quarter. Huntington National Bank purchased a new stake in Arconic during the 3rd quarter valued at approximately $132,000. BRYN MAWR TRUST Co purchased a new stake in Arconic during the 2nd quarter valued at approximately $214,000. Finally, Wayne Hummer Investments L.L.C. raised its stake in Arconic by 8.2% during the 2nd quarter. Wayne Hummer Investments L.L.C. now owns 9,630 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 732 shares during the last quarter.
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Arconic (NASDAQ ARNC) traded down 0.12% during midday trading on Wednesday, reaching $25.09. The company’s stock had a trading volume of 1,188,093 shares. The stock’s 50-day moving average price is $26.06 and its 200 day moving average price is $25.81. The firm’s market capitalization is $11.07 billion. Arconic has a 1-year low of $16.75 and a 1-year high of $30.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, November 2nd. This represents a $0.24 annualized dividend and a dividend yield of 0.96%.
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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