Arconic (NYSE:ARNC) announced its quarterly earnings data on Monday. The basic materials company reported ($0.59) EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.91), MarketWatch Earnings reports. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. Arconic had a net margin of 2.97% and a return on equity of 10.05%. Arconic’s revenue for the quarter was down 56.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS.
Shares of Arconic stock opened at $22.83 on Wednesday. The company has a fifty day moving average price of $27.43 and a 200 day moving average price of $25.28. The company has a quick ratio of 1.32, a current ratio of 2.06 and a debt-to-equity ratio of 0.86. Arconic has a twelve month low of $5.80 and a twelve month high of $31.59.
ARNC has been the subject of a number of recent analyst reports. Benchmark raised their price objective on shares of Arconic from $29.00 to $34.00 and gave the company a “buy” rating in a research report on Thursday, December 10th. Zacks Investment Research downgraded Arconic from a “buy” rating to a “hold” rating in a research report on Wednesday, January 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Arconic currently has a consensus rating of “Buy” and a consensus price target of $29.40.
Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Hungary, Russia, China, France, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Extrusions, and Building and Construction Systems.
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