Brokerages Expect Arconic Inc (ARNC) to Post $0.40 EPS

Equities analysts predict that Arconic Inc (NYSE:ARNC) will announce earnings of $0.40 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Arconic’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.44. Arconic posted earnings of $0.34 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.6%. The firm is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 30th.

According to Zacks, analysts expect that Arconic will report full year earnings of $1.68 per share for the current fiscal year, with EPS estimates ranging from $1.59 to $1.75. For the next year, analysts anticipate that the business will post earnings of $1.96 per share, with EPS estimates ranging from $1.93 to $2.00. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Arconic.

Arconic (NYSE:ARNC) last issued its quarterly earnings results on Friday, February 8th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03. Arconic had a return on equity of 12.73% and a net margin of 4.58%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue was up 6.1% compared to the same quarter last year.

Several equities research analysts have issued reports on the company. Zacks Investment Research lowered Arconic from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 15th. ValuEngine upgraded Arconic from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. JPMorgan Chase & Co. downgraded Arconic from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $24.00 to $22.00 in a report on Monday, January 14th. Finally, Cowen reiterated a “hold” rating and issued a $20.00 price objective on shares of Arconic in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.36.

In related news, Chairman John C. Plant acquired 105,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were purchased at an average price of $18.51 per share, for a total transaction of $1,943,550.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders bought 280,000 shares of company stock worth $5,192,250. Company insiders own 0.14% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc increased its holdings in Arconic by 1.5% during the 3rd quarter. Vanguard Group Inc now owns 44,331,106 shares of the basic materials company’s stock valued at $975,728,000 after purchasing an additional 653,470 shares during the period. Canyon Capital Advisors LLC increased its holdings in Arconic by 11.4% during the 4th quarter. Canyon Capital Advisors LLC now owns 9,466,073 shares of the basic materials company’s stock valued at $159,598,000 after purchasing an additional 965,305 shares during the period. Geode Capital Management LLC increased its holdings in Arconic by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 5,550,992 shares of the basic materials company’s stock valued at $93,423,000 after purchasing an additional 390,464 shares during the period. Dimensional Fund Advisors LP increased its holdings in Arconic by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,849,849 shares of the basic materials company’s stock valued at $81,770,000 after purchasing an additional 97,501 shares during the period. Finally, Northern Trust Corp increased its holdings in Arconic by 3.2% during the 4th quarter. Northern Trust Corp now owns 4,645,621 shares of the basic materials company’s stock valued at $78,325,000 after purchasing an additional 141,957 shares during the period. Hedge funds and other institutional investors own 88.07% of the company’s stock.

ARNC stock traded up $0.42 during mid-day trading on Wednesday, hitting $21.10. 5,065,505 shares of the stock were exchanged, compared to its average volume of 5,687,110. The company has a quick ratio of 1.16, a current ratio of 1.87 and a debt-to-equity ratio of 1.07. Arconic has a 12 month low of $15.63 and a 12 month high of $23.60. The firm has a market cap of $9.12 billion, a P/E ratio of 15.51 and a beta of 1.49.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, May 25th. Stockholders of record on Friday, May 3rd will be issued a $0.02 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $0.08 annualized dividend and a dividend yield of 0.38%. Arconic’s dividend payout ratio is currently 17.65%.

Arconic Company Profile

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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Earnings History and Estimates for Arconic (NYSE:ARNC)

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