Arconic (ARNC) Earns Coverage Optimism Rating of 0.10
News stories about Arconic (NASDAQ:ARNC) have been trending somewhat positive on Tuesday, Accern reports. Accern scores the sentiment of media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Arconic earned a coverage optimism score of 0.10 on Accern’s scale. Accern also gave news articles about the basic materials company an impact score of 45.5411389218104 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the media stories that may have impacted Accern Sentiment Analysis’s analysis:
- Arconic Inc. (ARNC)- Safe Haven Investment Performance Stocks – NASDAQ Times (nasdaqtimes.com)
- Arconic : to Host Webcast and Announce Third Quarter 2017 Results (4-traders.com)
- Arconic to Host Webcast and Announce Third Quarter 2017 Results (finance.yahoo.com)
- Arconic Inc (ARNC) Scheduled to Post Quarterly Earnings on Monday (americanbankingnews.com)
- Arconic Inc (ARNC) Expected to Announce Quarterly Sales of $3.09 Billion (americanbankingnews.com)
ARNC has been the subject of several analyst reports. Zacks Investment Research upgraded Arconic from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Tuesday, September 12th. Morgan Stanley reiterated an “equal weight” rating on shares of Arconic in a research report on Friday, June 30th. Vetr upgraded Arconic to a “strong-buy” rating in a research report on Thursday, July 27th. Cowen and Company reiterated a “hold” rating and issued a $25.00 price objective on shares of Arconic in a research report on Monday, June 26th. Finally, J P Morgan Chase & Co reiterated a “neutral” rating on shares of Arconic in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.36.
Arconic (NASDAQ:ARNC) opened at 27.17 on Tuesday. Arconic has a 52-week low of $16.75 and a 52-week high of $30.69. The stock’s market capitalization is $11.98 billion. The stock’s 50 day moving average price is $25.89 and its 200 day moving average price is $25.86.
Arconic (NASDAQ:ARNC) last announced its quarterly earnings data on Monday, July 24th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Arconic had a net margin of 6.50% and a return on equity of 14.01%. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.18 billion. The firm’s quarterly revenue was up .8% compared to the same quarter last year. On average, analysts forecast that Arconic will post $1.19 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, November 25th. Stockholders of record on Friday, November 3rd will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.24 annualized dividend and a dividend yield of 0.88%.
In related news, Director Elmer L. Doty acquired 6,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $24.51 per share, with a total value of $147,060.00. Following the purchase, the director now directly owns 4,409 shares of the company’s stock, valued at $108,064.59. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James F. Albaugh acquired 5,000 shares of the stock in a transaction dated Wednesday, August 9th. The shares were bought at an average cost of $24.94 per share, with a total value of $124,700.00. Following the completion of the purchase, the director now directly owns 9,409 shares in the company, valued at $234,660.46. The disclosure for this purchase can be found here. Insiders have bought a total of 26,000 shares of company stock valued at $640,310 over the last three months.
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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