ARC Document Solutions, Inc. (NYSE:ARC) issued its earnings results on Wednesday. The business services provider reported $0.01 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.03), Bloomberg Earnings reports. The company had revenue of $96.50 million during the quarter, compared to analyst estimates of $98.24 million. ARC Document Solutions had a return on equity of 7.00% and a net margin of 2.72%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 earnings per share. ARC Document Solutions updated its FY17 guidance to $0.12-0.15 EPS.
An institutional investor recently raised its position in ARC Document Solutions stock. The Manufacturers Life Insurance Company grew its stake in ARC Document Solutions, Inc. (NYSE:ARC) by 10.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,025 shares of the business services provider’s stock after purchasing an additional 3,446 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of ARC Document Solutions worth $158,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 70.57% of the company’s stock.
A number of equities analysts recently issued reports on ARC shares. Raymond James Financial, Inc. upgraded ARC Document Solutions from an “outperform” rating to a “strong-buy” rating in a report on Thursday, July 6th. TheStreet upgraded ARC Document Solutions from a “d+” rating to a “c” rating in a report on Tuesday, August 1st. Finally, B. Riley restated a “buy” rating and issued a $5.25 target price on shares of ARC Document Solutions in a report on Monday.
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ARC Document Solutions Company Profile
ARC Document Solutions, Inc (ARC) is a document solutions provider for the architectural, engineering and construction (AEC) industry. The Company also provides document solutions to businesses of various types. ARC’s offerings include managed print services (MPS), offsite services, archive and information management (AIM), specialized color printing, Web-based document management applications, digital shipping/managed file transfer, and equipment and supplies sales.
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