Equities analysts expect Arconic Inc. (NYSE:ARNC) to announce sales of $3.06 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Arconic’s earnings, with the lowest sales estimate coming in at $3.01 billion and the highest estimate coming in at $3.11 billion. Arconic reported sales of $2.97 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3%. The business is scheduled to issue its next earnings report before the market opens on Monday, February 5th.
On average, analysts expect that Arconic will report full year sales of $3.06 billion for the current financial year, with estimates ranging from $12.40 billion to $12.80 billion. For the next year, analysts anticipate that the company will post sales of $13.04 billion per share, with estimates ranging from $12.72 billion to $13.45 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Arconic.
Arconic (NYSE:ARNC) last posted its quarterly earnings results on Monday, October 23rd. The basic materials company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.02). The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.09 billion. Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The firm’s revenue was up 3.1% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of ARNC. Pacer Advisors Inc. raised its stake in Arconic by 8.4% in the second quarter. Pacer Advisors Inc. now owns 9,707 shares of the basic materials company’s stock valued at $220,000 after buying an additional 751 shares in the last quarter. Riverhead Capital Management LLC raised its stake in Arconic by 3.7% in the second quarter. Riverhead Capital Management LLC now owns 18,058 shares of the basic materials company’s stock valued at $409,000 after buying an additional 641 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Arconic in the second quarter valued at $831,000. Norinchukin Bank The raised its stake in Arconic by 6.9% in the second quarter. Norinchukin Bank The now owns 30,587 shares of the basic materials company’s stock valued at $693,000 after buying an additional 1,961 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Arconic by 43.7% in the second quarter. Amalgamated Bank now owns 44,280 shares of the basic materials company’s stock valued at $1,003,000 after buying an additional 13,459 shares in the last quarter. Institutional investors own 74.62% of the company’s stock.
Arconic (NYSE:ARNC) opened at $30.84 on Friday. Arconic has a 52-week low of $20.50 and a 52-week high of $30.90. The firm has a market capitalization of $14,840.00, a P/E ratio of -14.34, a P/E/G ratio of 4.13 and a beta of 0.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.30 and a quick ratio of 1.38.
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Arconic Company Profile
Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.
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