Analysts expect Arconic Inc (NYSE:ARNC) to announce $3.65 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Arconic’s earnings. The highest sales estimate is $3.75 billion and the lowest is $3.53 billion. Arconic reported sales of $3.57 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The company is scheduled to report its next quarterly earnings report on Tuesday, July 30th.
According to Zacks, analysts expect that Arconic will report full-year sales of $14.43 billion for the current fiscal year, with estimates ranging from $14.37 billion to $14.53 billion. For the next financial year, analysts anticipate that the firm will report sales of $15.13 billion, with estimates ranging from $15.02 billion to $15.26 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Arconic.
Arconic (NYSE:ARNC) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. Arconic had a net margin of 4.86% and a return on equity of 13.53%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same period last year, the business posted $0.34 EPS. Arconic’s revenue was up 2.8% compared to the same quarter last year.
A number of research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Arconic from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 15th. Cowen reiterated a “hold” rating and issued a $24.00 target price on shares of Arconic in a research note on Wednesday, May 1st. Goldman Sachs Group upgraded shares of Arconic from a “neutral” rating to a “buy” rating and raised their target price for the company from $21.00 to $26.00 in a research note on Thursday, May 2nd. ValuEngine upgraded shares of Arconic from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Finally, JPMorgan Chase & Co. lowered shares of Arconic from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $24.00 to $22.00 in a research note on Monday, January 14th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.28.
NYSE:ARNC opened at $22.48 on Friday. Arconic has a 1 year low of $15.63 and a 1 year high of $23.60. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $9.91 billion, a P/E ratio of 16.53 and a beta of 1.53.
The business also recently declared a quarterly dividend, which will be paid on Saturday, May 25th. Shareholders of record on Friday, May 3rd will be given a $0.02 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.08 annualized dividend and a yield of 0.36%. Arconic’s dividend payout ratio is 5.88%.
In related news, Director Rajiv Gupta purchased 22,603 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $22.10 per share, for a total transaction of $499,526.30. Following the transaction, the director now directly owns 38,420 shares of the company’s stock, valued at approximately $849,082. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John C. Plant purchased 35,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was bought at an average price of $18.65 per share, for a total transaction of $652,750.00. The disclosure for this purchase can be found here. Insiders acquired a total of 352,603 shares of company stock worth $6,798,776 over the last 90 days. Company insiders own 0.14% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc lifted its holdings in shares of Arconic by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 47,428 shares of the basic materials company’s stock worth $906,000 after acquiring an additional 475 shares during the period. Candriam Luxembourg S.C.A. lifted its holdings in shares of Arconic by 1.4% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 34,199 shares of the basic materials company’s stock worth $654,000 after acquiring an additional 487 shares during the period. Securian Asset Management Inc lifted its holdings in shares of Arconic by 1.5% during the 1st quarter. Securian Asset Management Inc now owns 44,107 shares of the basic materials company’s stock worth $843,000 after acquiring an additional 666 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its holdings in shares of Arconic by 1.2% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 65,583 shares of the basic materials company’s stock worth $1,253,000 after acquiring an additional 778 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Arconic by 0.6% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 129,723 shares of the basic materials company’s stock worth $2,479,000 after acquiring an additional 779 shares during the period. Institutional investors own 88.10% of the company’s stock.
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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