Arconic Inc (NYSE:ARNC) – Seaport Global Securities dropped their Q1 2018 earnings per share (EPS) estimates for Arconic in a research report issued to clients and investors on Monday. Seaport Global Securities analyst J. Sullivan now expects that the basic materials company will earn $0.30 per share for the quarter, down from their previous forecast of $0.33. Seaport Global Securities has a “Buy” rating and a $32.00 price target on the stock. Seaport Global Securities also issued estimates for Arconic’s Q2 2018 earnings at $0.39 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.40 EPS, FY2018 earnings at $1.50 EPS, Q1 2019 earnings at $0.42 EPS, Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.49 EPS, Q4 2019 earnings at $0.47 EPS and FY2019 earnings at $1.82 EPS.
Arconic (NYSE:ARNC) last announced its quarterly earnings data on Monday, February 5th. The basic materials company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.07. The business had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Arconic had a positive return on equity of 10.88% and a negative net margin of 0.57%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $0.12 earnings per share.
Shares of Arconic (NYSE ARNC) opened at $25.28 on Wednesday. The stock has a market capitalization of $12,170.00, a price-to-earnings ratio of -97.23, a PEG ratio of 0.88 and a beta of 0.93. The company has a quick ratio of 1.38, a current ratio of 2.30 and a debt-to-equity ratio of 1.15. Arconic has a 52 week low of $21.75 and a 52 week high of $31.17.
A number of institutional investors have recently bought and sold shares of ARNC. Boston Partners grew its holdings in shares of Arconic by 567.2% during the fourth quarter. Boston Partners now owns 917,725 shares of the basic materials company’s stock worth $25,008,000 after purchasing an additional 780,173 shares during the last quarter. Graticule Asia Macro Advisors LLC purchased a new position in shares of Arconic during the third quarter worth about $10,425,000. Bank of Nova Scotia grew its holdings in shares of Arconic by 311.4% during the second quarter. Bank of Nova Scotia now owns 499,237 shares of the basic materials company’s stock worth $11,308,000 after purchasing an additional 377,886 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Arconic by 83.4% during the fourth quarter. Bank of Montreal Can now owns 713,687 shares of the basic materials company’s stock worth $19,447,000 after purchasing an additional 324,511 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Arconic by 5.6% during the third quarter. Dimensional Fund Advisors LP now owns 6,137,495 shares of the basic materials company’s stock worth $152,744,000 after purchasing an additional 324,119 shares during the last quarter. Institutional investors own 74.58% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, February 25th. Shareholders of record on Friday, February 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 1st. Arconic’s dividend payout ratio is presently -92.31%.
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Arconic Company Profile
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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