Equities Analysts Set Expectations for Arconic Inc’s Q1 2018 Earnings (ARNC)

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.

Several other analysts have also recently issued reports on the company. Zacks Investment Research upgraded Arconic from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Wells Fargo & Co started coverage on Arconic in a research note on Thursday, January 4th. They issued an “outperform” rating and a $35.00 price objective on the stock. Cowen reiterated a “hold” rating and issued a $25.00 price objective on shares of Arconic in a research note on Wednesday, January 3rd. Vetr cut Arconic from a “buy” rating to a “hold” rating and set a $27.97 price objective on the stock. in a research note on Monday, October 23rd. Finally, Deutsche Bank set a $31.00 price objective on Arconic and gave the company a “buy” rating in a research note on Tuesday, October 24th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Arconic currently has an average rating of “Buy” and an average price target of $29.77.

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%.

TRADEMARK VIOLATION NOTICE: This news story was first published by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.americanbankingnews.com/2018/02/07/equities-analysts-set-expectations-for-arconic-incs-q1-2018-earnings-arnc.html.

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.

Earnings History and Estimates for Arconic (NYSE:ARNC)

Receive News & Ratings for Arconic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply