Arconic (ARNC) Issues FY18 Earnings Guidance

Arconic (NYSE:ARNC) updated its FY18 earnings guidance on Tuesday. The company provided EPS guidance of $1.28-1.34 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.31. The company issued revenue guidance of $13.70-14.00 billion, compared to the consensus revenue estimate of $13.94 billion.

Several equities analysts have issued reports on ARNC shares. Longbow Research cut shares of Arconic from a buy rating to a neutral rating in a research note on Monday, September 17th. They noted that the move was a valuation call. ValuEngine upgraded shares of Arconic from a strong sell rating to a sell rating in a research note on Wednesday, September 12th. Zacks Investment Research cut shares of Arconic from a buy rating to a hold rating in a research note on Wednesday, October 10th. TheStreet upgraded shares of Arconic from a d+ rating to a c- rating in a research note on Monday, October 15th. Finally, Morgan Stanley set a $22.00 target price on shares of Arconic and gave the company a hold rating in a research note on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. Arconic currently has a consensus rating of Hold and a consensus price target of $24.20.

Shares of NYSE:ARNC traded up $0.87 during trading on Wednesday, hitting $20.57. The company’s stock had a trading volume of 426,994 shares, compared to its average volume of 3,696,587. Arconic has a 12 month low of $16.47 and a 12 month 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 stock has a market capitalization of $9.58 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 0.74 and a beta of 1.31.

Arconic (NYSE:ARNC) last issued its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Arconic had a negative net margin of 2.55% and a positive return on equity of 12.06%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the business earned $0.25 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that Arconic will post 1.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, November 25th. Investors of record on Friday, November 2nd will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, November 1st. Arconic’s dividend payout ratio is 19.67%.

About Arconic

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.

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Earnings History and Estimates for Arconic (NYSE:ARNC)

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