Arconic Inc (ARNC) Expected to Post Quarterly Sales of $3.41 Billion

Wall Street brokerages predict that Arconic Inc (NYSE:ARNC) will announce sales of $3.41 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Arconic’s earnings, with estimates ranging from $3.35 billion to $3.49 billion. Arconic posted sales of $3.27 billion in the same quarter last year, which suggests a positive year over year growth rate of 4.3%. The business is expected to announce its next earnings results on Monday, February 4th.

According to Zacks, analysts expect that Arconic will report full year sales of $13.97 billion for the current fiscal year, with estimates ranging from $13.89 billion to $14.05 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $14.49 billion, with estimates ranging from $14.06 billion to $14.89 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Arconic.

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

A number of research analysts have recently issued reports on ARNC shares. Zacks Investment Research downgraded Arconic from a “buy” rating to a “hold” rating in a report on Monday, August 13th. ValuEngine upgraded Arconic from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 12th. Longbow Research downgraded Arconic from a “buy” rating to a “neutral” rating in a report on Monday, September 17th. They noted that the move was a valuation call. Morgan Stanley set a $22.00 price target on Arconic and gave the company a “hold” rating in a report on Wednesday, October 10th. Finally, TheStreet upgraded Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $24.20.

A number of hedge funds have recently made changes to their positions in ARNC. Morgan Stanley grew its stake in Arconic by 134.9% during the 3rd quarter. Morgan Stanley now owns 3,406,246 shares of the basic materials company’s stock worth $74,972,000 after buying an additional 1,955,880 shares during the last quarter. Renaissance Technologies LLC grew its stake in Arconic by 460.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,247,400 shares of the basic materials company’s stock worth $38,228,000 after buying an additional 1,846,700 shares during the last quarter. BlackRock Inc. grew its stake in Arconic by 4.7% during the 2nd quarter. BlackRock Inc. now owns 35,321,536 shares of the basic materials company’s stock worth $600,819,000 after buying an additional 1,585,480 shares during the last quarter. Canyon Capital Advisors LLC grew its stake in Arconic by 17.9% during the 3rd quarter. Canyon Capital Advisors LLC now owns 8,500,768 shares of the basic materials company’s stock worth $187,102,000 after buying an additional 1,292,668 shares during the last quarter. Finally, Korea Investment CORP grew its stake in Arconic by 340.1% during the 3rd quarter. Korea Investment CORP now owns 874,400 shares of the basic materials company’s stock worth $19,246,000 after buying an additional 675,730 shares during the last quarter. Hedge funds and other institutional investors own 82.45% of the company’s stock.

Shares of NYSE:ARNC opened at $21.48 on Friday. Arconic has a 12-month low of $16.47 and a 12-month high of $31.17. The firm has a market capitalization of $10.31 billion, a PE ratio of 17.61 and a beta of 1.22. The company has a current ratio of 2.03, a quick ratio of 1.16 and a debt-to-equity ratio of 1.19.

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

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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Earnings History and Estimates for Arconic (NYSE:ARNC)

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