Arconic Inc (ARNC) Forecasted to Earn Q3 2018 Earnings of $0.32 Per Share
Arconic Inc (NYSE:ARNC) – Investment analysts at Seaport Global Securities upped their Q3 2018 earnings per share (EPS) estimates for shares of Arconic in a research note issued on Monday, October 15th, Zacks Investment Research reports. Seaport Global Securities analyst J. Sullivan now forecasts that the basic materials company will post earnings per share of $0.32 for the quarter, up from their previous forecast of $0.28. Seaport Global Securities has a “Buy” rating on the stock.
Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, October 30th. The basic materials company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.48 billion. Arconic had a negative net margin of 2.19% and a positive return on equity of 12.94%. Arconic’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share.
Arconic stock traded down $0.28 during trading hours on Wednesday, reaching $20.77. 3,391,889 shares of the stock were exchanged, compared to its average volume of 4,832,155. The company has a market capitalization of $10.22 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 0.81 and a beta of 1.22. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 1.19. Arconic has a twelve month low of $16.47 and a twelve month high of $31.17.
Several hedge funds have recently bought and sold shares of the company. BlueMountain Capital Management LLC bought a new position in Arconic in the 2nd quarter valued at approximately $104,000. Mount Yale Investment Advisors LLC bought a new position in Arconic in the 1st quarter valued at approximately $116,000. Fuller & Thaler Asset Management Inc. raised its holdings in Arconic by 198.0% in the 2nd quarter. Fuller & Thaler Asset Management Inc. now owns 7,300 shares of the basic materials company’s stock valued at $124,000 after buying an additional 4,850 shares during the last quarter. Highstreet Asset Management Inc. raised its holdings in Arconic by 1,475.0% in the 2nd quarter. Highstreet Asset Management Inc. now owns 8,442 shares of the basic materials company’s stock valued at $144,000 after buying an additional 7,906 shares during the last quarter. Finally, Cerebellum GP LLC bought a new position in Arconic in the 2nd quarter valued at approximately $168,000. 82.97% of the stock is owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Sunday, November 25th. Stockholders of record on Friday, November 2nd will be issued a $0.06 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.16%. Arconic’s dividend payout ratio (DPR) is currently 19.67%.
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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