Arconic (NYSE:ARNC) Releases Q3 Earnings Guidance

Arconic (NYSE:ARNC) issued an update on its third quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.47-0.53 for the period, compared to the Thomson Reuters consensus estimate of $0.46. Arconic also updated its FY19 guidance to $1.95-2.05 EPS.

Arconic stock traded down $0.60 during mid-day trading on Friday, reaching $23.76. The company’s stock had a trading volume of 4,908,393 shares, compared to its average volume of 2,272,209. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 17.47 and a beta of 1.50. The firm’s 50 day moving average is $25.10. The company has a current ratio of 1.65, a quick ratio of 0.94 and a debt-to-equity ratio of 1.15. Arconic has a twelve month low of $15.63 and a twelve month high of $26.40.

Arconic (NYSE:ARNC) last announced its quarterly earnings results on Friday, August 2nd. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. Arconic had a net margin of 4.86% and a return on equity of 13.53%. The company had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts expect that Arconic will post 2 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, August 25th. Investors of record on Friday, August 2nd will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, August 1st. Arconic’s dividend payout ratio is currently 5.88%.

Several brokerages have commented on ARNC. Morgan Stanley boosted their price target on shares of Arconic from $21.00 to $23.00 and gave the stock an equal weight rating in a research report on Wednesday, July 10th. ValuEngine cut shares of Arconic from a hold rating to a sell rating in a research report on Thursday. Jefferies Financial Group boosted their price target on shares of Arconic from $23.00 to $30.00 and gave the stock a buy rating in a research report on Monday, July 1st. Longbow Research cut shares of Arconic from a buy rating to a neutral rating in a research report on Thursday, July 18th. Finally, Cowen reiterated a hold rating and issued a $24.00 price target on shares of Arconic in a research report on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $23.47.

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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