Arconic (NYSE:ARNC – Get Rating) will issue its quarterly earnings data before the market opens on Tuesday, May 3rd. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Arconic has set its FY 2022 guidance at EPS.
Arconic (NYSE:ARNC – Get Rating) last posted its earnings results on Friday, February 18th. The basic materials company reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.20). Arconic had a positive return on equity of 5.82% and a negative net margin of 5.29%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. On average, analysts expect Arconic to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
NYSE ARNC traded down $1.49 during trading hours on Tuesday, reaching $24.48. 8,730 shares of the company’s stock traded hands, compared to its average volume of 1,211,130. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.54 and a quick ratio of 0.75. The firm has a market cap of $2.59 billion, a PE ratio of -6.76 and a beta of 2.35. Arconic has a 52-week low of $22.45 and a 52-week high of $38.49. The firm has a 50-day simple moving average of $26.76 and a 200 day simple moving average of $29.82.
Large investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new stake in Arconic during the fourth quarter valued at $41,000. Marshall Wace LLP purchased a new stake in Arconic during the fourth quarter valued at $138,000. LPL Financial LLC raised its stake in Arconic by 18.8% during the third quarter. LPL Financial LLC now owns 12,384 shares of the basic materials company’s stock valued at $391,000 after purchasing an additional 1,964 shares in the last quarter. Guggenheim Capital LLC raised its stake in Arconic by 35.4% during the fourth quarter. Guggenheim Capital LLC now owns 16,183 shares of the basic materials company’s stock valued at $534,000 after purchasing an additional 4,229 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in Arconic by 48.0% during the fourth quarter. Cubist Systematic Strategies LLC now owns 28,938 shares of the basic materials company’s stock valued at $955,000 after purchasing an additional 9,379 shares in the last quarter. 93.98% of the stock is currently owned by institutional investors and hedge funds.
ARNC has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Arconic in a report on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut shares of Arconic from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Arconic from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, February 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Arconic currently has an average rating of “Buy” and an average target price of $38.00.
Arconic Company Profile (Get Rating)
Arconic Corporation manufactures and sells aluminum sheets, plates, extrusions, and architectural products in the United States, Canada, China, France, Germany, Hungary, Russia, the United Kingdom, and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions.
- Get a free copy of the StockNews.com research report on Arconic (ARNC)
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