Arconic (ARNC) Stock Forecast, Price & News

4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Arconic in the last year. There are currently 1 sell rating and 3 hold ratings for the stock. The consensus among Wall Street analysts is that investors should "reduce" ARNC shares.
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4 equities research analysts have issued 1 year price objectives for Arconic's stock. Their ARNC share price forecasts range from $21.00 to $26.00. On average, they expect the company's share price to reach $22.67 in the next year. This suggests that the stock has a possible downside of 24.4%.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 7th 2023.
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Arconic Co. (NYSE:ARNC) released its quarterly earnings data on Monday, July, 31st. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. The basic materials company earned $1.99 billion during the quarter, compared to the consensus estimate of $2.05 billion. Arconic had a positive trailing twelve-month return on equity of 8.18% and a negative net margin of 3.12%. The company's revenue for the quarter was down 21.9% compared to the same quarter last year. During the same period last year, the company posted $1.05 earnings per share.

ETFs with the largest weight of Arconic (NYSE:ARNC) stock in their portfolio include Invesco S&P SmallCap Materials ETF (PSCM), SPDR S&P Metals & Mining ETF (XME), ProShares Merger ETF (MRGR), Direxion Daily Metals & Mining Bull 2X Shares (MNM), 3D Printing ETF (PRNT), IQ Merger Arbitrage ETF (MNA), Invesco S&P SmallCap 600 Pure Value ETF (RZV) and Optica Rare Earths & Critical Materials ETF (CRIT).

Arconic declared that its board has approved a share buyback plan on Wednesday, November 16th 2022, which permits the company to buyback $200,000,000.00 in shares, according to EventVestor. This buyback authorization permits the company to repurchase up to 9.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's management believes its shares are undervalued.

Arconic issued an update on its second quarter 2023 earnings guidance on Friday, July, 14th. The company provided EPS guidance of for the period. The company issued revenue guidance of $1.94 billion-$2.04 billion, compared to the consensus revenue estimate of $2.19 billion.

73 employees have rated Arconic Chief Executive Officer Mr. John C. Plant on Glassdoor.com. Mr. John C. Plant has an approval rating of 34% among the company's employees. This puts Mr. John C. Plant in the bottom 10% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Arconic investors own include Alcoa (AA), Bank of America (BAC), Cisco Systems (CSCO), Boeing (BA), General Electric (GE), Advanced Micro Devices (AMD), AT&T (T), Micron Technology (MU), NVIDIA (NVDA) and QUALCOMM (QCOM).

Arconic trades on the New York Stock Exchange (NYSE) under the ticker symbol "ARNC."

Arconic's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include BlackRock Inc. (18.42%), State Street Corp (6.34%), Dimensional Fund Advisors LP (3.64%), KRYGER CAPITAL Ltd (2.11%), Geode Capital Management LLC (1.94%) and Northern Trust Corp (1.32%). Insiders that own company stock include Diana B Perreiah, E Stanley Oneal, Frederick A Henderson, Mark J Vrablec, Mary Zik, Melissa M Miller, Timothy Donald Myers and William F Austen.
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One share of ARNC stock can currently be purchased for approximately $29.99.

Arconic (NYSE:ARNC) has a market capitalization of $3.01 billion and generates $8.96 billion in revenue each year. The basic materials company earns $-182,000,000.00 in net income (profit) each year or ($2.52) on an earnings per share basis.

The company employs 11,550 workers across the globe.

Arconic's mailing address is 201 Isabella Street Suite 400, Pittsburgh PA, 15212. The official website for the company is www.arconic.com. The basic materials company can be reached via phone at 412-992-2500 or via email at investor.relations@arconic.com.