Analysts at StockNews.com initiated coverage on shares of Arconic (NYSE:ARNC – Get Free Report) in a note issued to investors on Tuesday. The brokerage set a “hold” rating on the basic materials company’s stock.
Arconic Price Performance
Shares of NYSE:ARNC opened at $29.99 on Tuesday. Arconic has a 1-year low of $16.33 and a 1-year high of $30.02. The company has a current ratio of 1.62, a quick ratio of 0.80 and a debt-to-equity ratio of 1.08. The stock has a market cap of $3.01 billion, a PE ratio of -11.90 and a beta of 1.82. The stock’s fifty day simple moving average is $29.81 and its two-hundred day simple moving average is $27.96.
Arconic (NYSE:ARNC – Get Free Report) last released its quarterly earnings results on Monday, July 31st. The basic materials company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. Arconic had a negative net margin of 3.12% and a positive return on equity of 8.18%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the firm earned $1.05 earnings per share. The firm’s revenue was down 21.9% on a year-over-year basis. As a group, analysts forecast that Arconic will post 1.5 EPS for the current fiscal year.
Institutional Trading of Arconic
Arconic Corporation manufactures and sells fabricated aluminum sheets, plates, extrusions, and architectural products and systems in the United States and internationally. It operates through three segments: Rolled Products, Building and Construction Systems, and Extrusions. The Rolled Products segment provides a range of aluminum sheet and plate products for aerospace, ground transportation, packaging, building and construction, and industrial products; and roofing, architectural composite panels, ventilated facades and ceiling panels, spacers, culvert pipes, and gutters for building and construction markets.
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