Is it time to Buy before this week’s earning report Arconic (NYSE:ARNC)

Earnings results for Arconic (NYSE:ARNC)

Arconic Corporation is expected* to report earnings on 05/04/2021 before market open. The report will be for the fiscal Quarter ending Mar 2021. According to Zacks Investment Research, based on 2 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.28. The reported EPS for the same quarter last year was $0.55.

Arconic last posted its earnings data on February 22nd, 2021. The basic materials company reported ($0.59) earnings per share for the quarter, missing the consensus estimate of $0.32 by $0.91. The business earned $1.49 billion during the quarter, compared to the consensus estimate of $1.46 billion. Its revenue for the quarter was down 56.1% compared to the same quarter last year. Arconic has generated $0.00 earnings per share over the last year. Arconic has confirmed that its next quarterly earnings report will be published on Tuesday, May 4th, 2021. Arconic will be holding an earnings conference call on Tuesday, May 4th. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Arconic (NYSE:ARNC)

4 Wall Street analysts have issued ratings and price targets for Arconic in the last 12 months. Their average twelve-month price target is $32.50, predicting that the stock has a possible upside of 13.64%. The high price target for ARNC is $38.00 and the low price target for ARNC is $28.00. There are currently 1 hold rating and 3 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Arconic has received a consensus rating of Buy. The company’s average rating score is 2.75, and is based on 3 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $32.50, Arconic has a forecasted upside of 13.6% from its current price of $28.60. Arconic has only been the subject of 2 research reports in the past 90 days.

Dividend Strength: Arconic (NYSE:ARNC)

Arconic does not currently pay a dividend. Arconic does not have a long track record of dividend growth.

Insiders buying/selling: Arconic (NYSE:ARNC)

In the past three months, Arconic insiders have bought more of their company’s stock than they have sold. Specifically, they have bought $279,446.00 in company stock and sold $0.00 in company stock. 88.52% of the stock of Arconic is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Arconic (NYSE:ARNC

Earnings for Arconic are expected to grow by 2,871.43% in the coming year, from $0.07 to $2.08 per share.

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