$0.43 Earnings Per Share Expected for Arconic Co. (NYSE:ARNC) This Quarter

Wall Street analysts expect Arconic Co. (NYSE:ARNCGet Rating) to report earnings per share (EPS) of $0.43 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Arconic’s earnings. The lowest EPS estimate is $0.41 and the highest is $0.45. Arconic reported earnings of $0.46 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 6.5%. The firm is expected to report its next earnings results before the market opens on Monday, January 1st.

On average, analysts expect that Arconic will report full year earnings of $2.51 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.53. For the next fiscal year, analysts forecast that the company will post earnings of $3.68 per share. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Arconic.

Arconic (NYSE:ARNCGet Rating) last announced its quarterly earnings data on Friday, February 18th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.20). Arconic had a negative net margin of 5.29% and a positive return on equity of 5.82%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period last year, the business earned $0.33 earnings per share. The company’s quarterly revenue was up 46.2% compared to the same quarter last year.

A number of equities research analysts have recently weighed in on ARNC shares. Zacks Investment Research lowered Arconic from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 26th. StockNews.com began coverage on Arconic in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Arconic from $42.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, February 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Arconic currently has a consensus rating of “Hold” and a consensus price target of $38.00.

NYSE:ARNC opened at $25.16 on Friday. The company has a current ratio of 1.54, a quick ratio of 0.75 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $26.15 and a 200-day simple moving average of $29.65. Arconic has a twelve month low of $22.45 and a twelve month high of $38.49.

In related news, EVP Melissa M. Miller purchased 3,800 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was bought at an average cost of $26.00 per share, with a total value of $98,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.79% of the company’s stock.

A number of large investors have recently made changes to their positions in ARNC. Norges Bank acquired a new position in shares of Arconic during the 4th quarter worth approximately $84,684,000. Meitav Dash Investments Ltd. purchased a new stake in Arconic in the 4th quarter valued at $2,021,000. BlackRock Inc. grew its holdings in Arconic by 3.8% in the 3rd quarter. BlackRock Inc. now owns 19,197,069 shares of the basic materials company’s stock valued at $605,475,000 after buying an additional 710,024 shares in the last quarter. Rubric Capital Management LP grew its holdings in Arconic by 49.5% in the 4th quarter. Rubric Capital Management LP now owns 1,763,267 shares of the basic materials company’s stock valued at $58,205,000 after buying an additional 583,529 shares in the last quarter. Finally, Bornite Capital Management LP purchased a new stake in Arconic in the 1st quarter valued at $7,686,000. 90.38% of the stock is owned by institutional investors.

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.

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