Zacks: Brokerages Expect Arconic Inc (NYSE:ARNC) to Post $0.54 EPS

Wall Street analysts expect Arconic Inc (NYSE:ARNC) to announce earnings per share (EPS) of $0.54 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Arconic’s earnings, with estimates ranging from $0.53 to $0.55. Arconic posted earnings of $0.33 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 63.6%. The business is scheduled to announce its next quarterly earnings results on Friday, February 14th.

According to Zacks, analysts expect that Arconic will report full year earnings of $2.14 per share for the current year. For the next fiscal year, analysts expect that the company will post earnings of $2.42 per share, with EPS estimates ranging from $2.35 to $2.49. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Arconic.

Arconic (NYSE:ARNC) last issued its earnings results on Tuesday, November 5th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.59 billion. Arconic had a return on equity of 17.87% and a net margin of 2.66%. The business’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share.

ARNC has been the topic of a number of research reports. Credit Suisse Group lifted their price objective on Arconic from $28.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Morgan Stanley increased their target price on Arconic from $25.00 to $26.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Berenberg Bank started coverage on shares of Arconic in a report on Tuesday, October 8th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of Arconic from $30.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, ValuEngine downgraded shares of Arconic from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $28.58.

NYSE ARNC traded up $0.54 during trading on Friday, hitting $31.02. 2,245,407 shares of the stock traded hands, compared to its average volume of 4,061,312. The company has a market capitalization of $13.30 billion, a P/E ratio of 22.81 and a beta of 1.52. The firm has a 50-day simple moving average of $29.33 and a 200-day simple moving average of $26.04. The company has a quick ratio of 0.75, a current ratio of 1.32 and a debt-to-equity ratio of 1.05. Arconic has a 12-month low of $15.63 and a 12-month high of $31.40.

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Friday, November 8th were paid a dividend of $0.02 per share. The ex-dividend date was Thursday, November 7th. This represents a $0.08 annualized dividend and a yield of 0.26%. Arconic’s payout ratio is currently 5.88%.

In related news, Director James F. Albaugh purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average cost of $29.50 per share, for a total transaction of $147,500.00. Following the completion of the transaction, the director now directly owns 29,486 shares in the company, valued at $869,837. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Donald Myers sold 29,849 shares of Arconic stock in a transaction on Monday, November 25th. The stock was sold at an average price of $30.82, for a total transaction of $919,946.18. Following the transaction, the executive vice president now directly owns 28,925 shares of the company’s stock, valued at $891,468.50. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. lifted its stake in shares of Arconic by 4.0% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 396,762 shares of the basic materials company’s stock worth $7,583,000 after acquiring an additional 15,182 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Arconic by 27.3% during the second quarter. Robeco Institutional Asset Management B.V. now owns 474,195 shares of the basic materials company’s stock worth $12,243,000 after purchasing an additional 101,708 shares during the last quarter. World Asset Management Inc lifted its position in shares of Arconic by 4.5% during the second quarter. World Asset Management Inc now owns 26,090 shares of the basic materials company’s stock worth $674,000 after purchasing an additional 1,118 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Arconic by 9.9% during the second quarter. Arizona State Retirement System now owns 193,727 shares of the basic materials company’s stock valued at $5,002,000 after purchasing an additional 17,452 shares during the period. Finally, Strs Ohio boosted its stake in shares of Arconic by 58.6% during the second quarter. Strs Ohio now owns 57,575 shares of the basic materials company’s stock valued at $1,486,000 after purchasing an additional 21,281 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Arconic

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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