Arconic Inc (NYSE:ARNC) – Equities research analysts at Jefferies Financial Group increased their FY2018 EPS estimates for shares of Arconic in a research report issued to clients and investors on Thursday, February 7th. Jefferies Financial Group analyst M. Englert now expects that the basic materials company will post earnings of $1.33 per share for the year, up from their previous estimate of $1.31. Jefferies Financial Group has a “Buy” rating and a $25.00 price target on the stock. Jefferies Financial Group also issued estimates for Arconic’s Q4 2018 earnings at $0.30 EPS.
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ARNC has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Arconic from a “strong-buy” rating to a “sell” rating in a research note on Tuesday, January 15th. Longbow Research upgraded shares of Arconic from a “neutral” rating to a “buy” rating and cut their price target for the company from $23.25 to $18.26 in a report on Thursday, December 20th. ValuEngine cut shares of Arconic from a “sell” rating to a “strong sell” rating in a report on Tuesday, January 22nd. JPMorgan Chase & Co. cut shares of Arconic from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $24.00 to $22.00 in a report on Monday, January 14th. Finally, Cowen restated a “hold” rating and issued a $20.00 target price on shares of Arconic in a report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. Arconic has an average rating of “Hold” and a consensus price target of $23.48.
Arconic stock opened at $17.10 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.03 and a debt-to-equity ratio of 1.19. The stock has a market cap of $8.54 billion, a PE ratio of 14.02 and a beta of 1.48. Arconic has a 1-year low of $15.63 and a 1-year high of $25.87.
Arconic (NYSE:ARNC) last announced its earnings results on Friday, February 8th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Arconic had a negative net margin of 2.19% and a positive return on equity of 12.94%. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the company. Enlightenment Research LLC purchased a new stake in shares of Arconic in the 4th quarter valued at $67,000. We Are One Seven LLC purchased a new position in Arconic during the fourth quarter valued at $109,000. Oregon Public Employees Retirement Fund lifted its holdings in Arconic by 1,764.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,173,996 shares of the basic materials company’s stock valued at $129,000 after purchasing an additional 2,057,395 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of Arconic in the fourth quarter valued at about $135,000. Finally, Trust Asset Management LLC raised its position in shares of Arconic by 2,101.0% in the third quarter. Trust Asset Management LLC now owns 73,359 shares of the basic materials company’s stock valued at $204,000 after buying an additional 70,026 shares during the last quarter. 83.39% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 25th. Shareholders of record on Friday, February 8th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, February 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.40%. Arconic’s payout ratio is 19.67%.
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 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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