ARC Document Solutions, Inc. (NYSE:ARC) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.12-0.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.20.
ARC Document Solutions (NYSE:ARC) last posted its earnings results on Wednesday, November 1st. The business services provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.03). The company had revenue of $96.50 million for the quarter, compared to the consensus estimate of $98.24 million. ARC Document Solutions had a net margin of 2.72% and a return on equity of 7.00%. ARC Document Solutions’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share.
A number of equities research analysts recently weighed in on ARC shares. B. Riley reissued a buy rating and set a $5.00 target price on shares of ARC Document Solutions in a research report on Tuesday, August 1st. TheStreet raised ARC Document Solutions from a d+ rating to a c rating in a report on Tuesday, August 1st. FBR & Co downgraded ARC Document Solutions from a buy rating to a neutral rating and lifted their price objective for the company from $4.00 to $5.25 in a report on Thursday. Finally, Raymond James Financial, Inc. raised ARC Document Solutions from an outperform rating to a strong-buy rating in a report on Thursday, July 6th.
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An institutional investor recently raised its position in ARC Document Solutions stock. The Manufacturers Life Insurance Company grew its position in ARC Document Solutions, Inc. (NYSE:ARC) by 10.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,025 shares of the business services provider’s stock after buying an additional 3,446 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of ARC Document Solutions worth $158,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 70.57% of the company’s stock.
ARC Document Solutions Company Profile
ARC Document Solutions, Inc (ARC) is a document solutions provider for the architectural, engineering and construction (AEC) industry. The Company also provides document solutions to businesses of various types. ARC’s offerings include managed print services (MPS), offsite services, archive and information management (AIM), specialized color printing, Web-based document management applications, digital shipping/managed file transfer, and equipment and supplies sales.
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