Arconic (NYSE:ARNC) Issues Q2 Earnings Guidance

Arconic (NYSE:ARNC) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.46-0.51 for the period, compared to the Thomson Reuters consensus estimate of $0.44. Arconic also updated its FY19 guidance to $1.75-1.90 EPS.

Shares of ARNC stock traded down $0.01 during mid-day trading on Wednesday, hitting $22.37. The company had a trading volume of 3,240,656 shares, compared to its average volume of 5,340,558. The company has a market capitalization of $10.04 billion, a PE ratio of 16.45 and a beta of 1.53. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.94 and a current ratio of 1.65. Arconic has a 52-week low of $15.63 and a 52-week high of $23.60.

Arconic (NYSE:ARNC) last released its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. The company had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.53 billion. Arconic had a net margin of 4.86% and a return on equity of 13.53%. Arconic’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. On average, research analysts predict that Arconic will post 1.79 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, May 25th. Investors of record on Friday, May 3rd will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Thursday, May 2nd. Arconic’s payout ratio is 5.88%.

A number of research analysts have weighed in on ARNC shares. Zacks Investment Research upgraded shares of Arconic from a sell rating to a hold rating in a research report on Monday, February 11th. Cowen reiterated a hold rating and set a $20.00 price objective on shares of Arconic in a research report on Friday, February 8th. ValuEngine cut shares of Arconic from a sell rating to a strong sell rating in a research report on Tuesday, January 22nd. Finally, Goldman Sachs Group upgraded shares of Arconic from a neutral rating to a buy rating and boosted their price objective for the company from $21.00 to $26.00 in a research report on Thursday, May 2nd. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Arconic currently has a consensus rating of Buy and an average price target of $22.61.

In related news, CEO John C. Plant purchased 50,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were purchased at an average cost of $22.14 per share, for a total transaction of $1,107,000.00. Following the completion of the acquisition, the chief executive officer now owns 28,282 shares in the company, valued at approximately $626,163.48. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rajiv Gupta bought 22,603 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $22.10 per share, for a total transaction of $499,526.30. Following the completion of the acquisition, the director now owns 38,420 shares in the company, valued at $849,082. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 352,603 shares of company stock worth $6,798,776. Company insiders own 0.14% of the company’s stock.

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Arconic Company Profile

Arconic Inc engineers, manufactures, and sells lightweight metals worldwide. The company operate in three segments: Engineered Products and Solutions, Global Rolled Products, and Transportation and Construction Solutions. The Engineered Products and Solutions segment 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 for aerospace (commercial and defense), industrial, commercial transportation, and power generation end markets.

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Earnings History and Estimates for Arconic (NYSE:ARNC)

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