Equities research analysts expect Arconic Inc. (NYSE:ARNC) to announce $3.06 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for Arconic’s earnings. The lowest sales estimate is $3.01 billion and the highest is $3.11 billion. Arconic posted sales of $2.97 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 3%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, January 30th.

On average, analysts expect that Arconic will report full year sales of $3.06 billion for the current fiscal year, with estimates ranging from $12.69 billion to $12.80 billion. For the next financial year, analysts forecast that the business will post sales of $13.02 billion per share, with estimates ranging from $12.72 billion to $13.29 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Arconic.

Arconic (NYSE:ARNC) last released its earnings results on Monday, October 23rd. The basic materials company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.02). The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Arconic had a negative net margin of 4.70% and a positive return on equity of 9.71%. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year.

A number of brokerages recently commented on ARNC. Zacks Investment Research upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Tuesday, September 12th. Seaport Global Securities restated a “buy” rating and set a $29.00 price target (up from $27.00) on shares of Arconic in a research note on Tuesday, September 26th. Vetr upgraded shares of Arconic from a “hold” rating to a “buy” rating and set a $27.97 price target on the stock in a research note on Tuesday, October 17th. Deutsche Bank set a $31.00 price target on shares of Arconic and gave the company a “buy” rating in a research note on Tuesday, October 24th. Finally, Morgan Stanley restated a “hold” rating and set a $27.00 price target on shares of Arconic in a research note on Tuesday, October 24th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.75.

Large investors have recently modified their holdings of the company. Fiduciary Trust Co. bought a new position in shares of Arconic in the 2nd quarter worth $111,000. Capstone Investment Advisors Netherlands B.V. boosted its stake in shares of Arconic by 47.9% in the 2nd quarter. Capstone Investment Advisors Netherlands B.V. now owns 4,950 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 1,604 shares in the last quarter. Huntington National Bank purchased a new stake in shares of Arconic in the 3rd quarter valued at $132,000. National Planning Corp purchased a new stake in shares of Arconic in the 3rd quarter valued at $206,000. Finally, Pitcairn Co. purchased a new stake in shares of Arconic in the 3rd quarter valued at $209,000. 74.62% of the stock is currently owned by hedge funds and other institutional investors.

Arconic (NYSE:ARNC) traded down $0.37 on Friday, reaching $27.25. 2,680,020 shares of the company’s stock were exchanged, compared to its average volume of 4,066,580. The company has a current ratio of 2.30, a quick ratio of 1.38 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $13,180.00, a PE ratio of -12.67 and a beta of 0.85. Arconic has a 52-week low of $18.47 and a 52-week high of $30.69.

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Arconic Company Profile

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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