Arconic (ARNC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Arconic (NYSE:ARNC) posted its earnings results on Tuesday. The basic materials company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.02, MarketWatch Earnings reports. Arconic had a positive return on equity of 12.06% and a negative net margin of 2.55%. The company had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm earned $0.25 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Arconic updated its FY18 guidance to $1.28-1.34 EPS.

ARNC stock traded up $0.40 during midday trading on Tuesday, reaching $19.62. The company had a trading volume of 178,075 shares, compared to its average volume of 3,696,587. The company has a market cap of $9.58 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.77 and a beta of 1.31. Arconic has a 1-year low of $16.47 and a 1-year high of $31.17. The company has a quick ratio of 1.15, a current ratio of 2.04 and a debt-to-equity ratio of 1.22.

The business also recently declared a quarterly dividend, which will be paid on Sunday, November 25th. Investors of record on Friday, November 2nd will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, November 1st. Arconic’s dividend payout ratio (DPR) is presently 19.67%.

A number of equities research analysts have recently weighed in on the company. TheStreet raised Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. Zacks Investment Research raised Arconic from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. Cowen reissued a “hold” rating and set a $15.00 target price on shares of Arconic in a report on Tuesday, July 31st. Jefferies Financial Group set a $25.00 target price on Arconic and gave the stock a “buy” rating in a report on Wednesday, August 1st. Finally, Morgan Stanley set a $20.00 target price on Arconic and gave the stock a “hold” rating in a report on Monday, July 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Arconic presently has an average rating of “Hold” and a consensus price target of $24.20.

Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals of aluminum, titanium, and nickel worldwide. It operates through three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions 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, as well as various forged, extruded, and machined metal products.

See Also: Initial Public Offering (IPO)

Earnings History for Arconic (NYSE:ARNC)

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