Arconic Inc (NASDAQ:ARNC) issued an update on its FY17 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $1.15-1.20 for the period, compared to the Thomson Reuters consensus estimate of $1.16. The company issued revenue guidance of $12.3-12.7 billion, compared to the consensus revenue estimate of $12.43 billion.
Shares of Arconic Inc (ARNC) traded up 0.04% during mid-day trading on Friday, hitting $24.29. 2,607,525 shares of the company were exchanged. The stock’s market cap is $10.71 billion. Arconic Inc has a 12-month low of $16.75 and a 12-month high of $30.69. The stock’s 50-day moving average price is $24.51 and its 200 day moving average price is $26.40.
Arconic (NASDAQ:ARNC) last issued its earnings results on Monday, July 24th. The basic materials company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.06. The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.18 billion. Arconic had a return on equity of 14.01% and a net margin of 6.50%. The firm’s revenue was up .8% compared to the same quarter last year. On average, equities analysts anticipate that Arconic Inc will post $1.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Friday, August 4th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, August 2nd. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.99%.
Several research analysts have issued reports on ARNC shares. Vetr lowered Arconic from a strong-buy rating to a buy rating and set a $31.00 price objective for the company. in a research note on Thursday, June 1st. Zacks Investment Research lowered Arconic from a buy rating to a hold rating in a research note on Monday, May 8th. J P Morgan Chase & Co restated a neutral rating on shares of Arconic in a report on Tuesday, June 27th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $28.00 price target on shares of Arconic in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Arconic presently has a consensus rating of Buy and an average price target of $26.88.
In other Arconic news, Director Patricia F. Russo purchased 15,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average price of $24.57 per share, with a total value of $368,550.00. Following the completion of the transaction, the director now directly owns 7,928 shares in the company, valued at approximately $194,790.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James F. Albaugh bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was purchased at an average cost of $24.94 per share, for a total transaction of $124,700.00. Following the transaction, the director now owns 9,409 shares in the company, valued at approximately $234,660.46. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 43,325 shares of company stock worth $1,112,056.
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Arconic Inc, formerly Alcoa Inc, is engaged in lightweight metals engineering and manufacturing. The Company operates through three segments: Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. Its multi-material products, which include aluminum, titanium and nickel, are used around the world in markets, such as aerospace, automotive, commercial transportation and packaging.
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