Arconic (NYSE:ARNC) announced its quarterly earnings data on Tuesday, October 30th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.02, MarketWatch Earnings reports. Arconic had a positive return on equity of 12.94% and a negative net margin of 2.19%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Arconic updated its FY18 guidance to $1.28-1.34 EPS.
Shares of NYSE:ARNC traded up $0.65 during midday trading on Thursday, reaching $20.49. The company had a trading volume of 4,984,133 shares, compared to its average volume of 5,413,602. 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 1-year low of $16.47 and a 1-year high of $31.17. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.76 and a beta 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 given 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 1.17%. Arconic’s dividend payout ratio (DPR) is 19.67%.
Several equities research analysts have weighed in on ARNC shares. Jefferies Financial Group set a $25.00 target price on Arconic and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Zacks Investment Research raised Arconic from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Friday, August 3rd. TheStreet raised Arconic from a “d+” rating to a “c-” rating in a report on Monday, October 15th. Cowen reissued a “hold” rating and set a $15.00 price target on shares of Arconic in a report on Tuesday, July 31st. Finally, Morgan Stanley set a $22.00 target price on Arconic and gave the company a “hold” rating in a research note on Wednesday, October 10th. One 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. The company presently has a consensus rating of “Hold” and an average target price of $24.20.
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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