$0.28 EPS Expected for Arconic Inc (ARNC) This Quarter

Equities research analysts expect Arconic Inc (NYSE:ARNC) to post earnings of $0.28 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Arconic’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.29. Arconic posted earnings of $0.31 per share in the same quarter last year, which suggests a negative year over year growth rate of 9.7%. The firm is expected to announce its next earnings results on Monday, February 4th.

According to Zacks, analysts expect that Arconic will report full-year earnings of $1.31 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.31. For the next financial year, analysts anticipate that the company will report earnings of $1.60 per share, with EPS estimates ranging from $1.56 to $1.66. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Arconic.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.48 billion. Arconic had a positive return on equity of 12.94% and a negative net margin of 2.19%. Arconic’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.25 EPS.

A number of research firms recently commented on ARNC. Zacks Investment Research lowered Arconic from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. TheStreet raised Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. Jefferies Financial Group set a $25.00 price objective on Arconic and gave the stock a “buy” rating in a report on Wednesday, October 31st. Morgan Stanley set a $22.00 price objective on Arconic and gave the stock a “hold” rating in a report on Wednesday, October 10th. Finally, ValuEngine raised Arconic from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five 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 $24.20.

NYSE ARNC traded up $0.14 during trading hours on Friday, reaching $21.48. 4,514,500 shares of the company’s stock were exchanged, compared to its average volume of 4,066,981. The firm has a market cap of $10.06 billion, a PE ratio of 17.61 and a beta of 1.22. Arconic has a one year low of $16.47 and a one year high of $31.17. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.03 and a quick ratio of 1.16.

The company also recently disclosed a quarterly dividend, which was paid on Sunday, November 25th. Shareholders of record on Friday, November 2nd were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Thursday, November 1st. Arconic’s dividend payout ratio is 19.67%.

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Arconic by 1.5% in 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. BlackRock Inc. lifted its stake in shares of Arconic by 4.7% in the 2nd quarter. BlackRock Inc. now owns 35,321,536 shares of the basic materials company’s stock valued at $600,819,000 after purchasing an additional 1,585,480 shares during the period. Canyon Capital Advisors LLC lifted its stake in shares of Arconic by 17.9% in the 3rd quarter. Canyon Capital Advisors LLC now owns 8,500,768 shares of the basic materials company’s stock valued at $187,102,000 after purchasing an additional 1,292,668 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Arconic by 8.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,665,633 shares of the basic materials company’s stock valued at $96,370,000 after purchasing an additional 417,504 shares during the period. Finally, Fairpointe Capital LLC lifted its stake in shares of Arconic by 9.0% in the 2nd quarter. Fairpointe Capital LLC now owns 4,720,095 shares of the basic materials company’s stock valued at $80,289,000 after purchasing an additional 388,647 shares during the period. 82.45% of the stock is currently owned by hedge funds and other institutional investors.

Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions 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, as well as various forged, extruded, and machined metal products.

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