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.

ILLEGAL ACTIVITY NOTICE: “Arconic (NYSE:ARNC) Issues Q2 Earnings Guidance” was first published by Sundance Herald and is the property of of Sundance Herald. If you are viewing this article on another site, it was illegally stolen and reposted in violation of US & international copyright laws. The legal version of this article can be viewed at

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.

Featured Article: Real Estate Investment Trust (REIT) ETF

Earnings History and Estimates for Arconic (NYSE:ARNC)

Receive News & Ratings for Arconic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arconic and related companies with's FREE daily email newsletter.

Leave a Reply