Arconic closed at $25.84 in the latest trading session, marking a +0.08% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. Elsewhere, the Dow lost 0.08%, while the tech-heavy Nasdaq added 0.54%.
Prior to today's trading, shares of the maker of engineered products for the aerospace and other industries had gained 10.86% over the past month. This has outpaced the Basic Materials sector's gain of 4.76% and the S&P 500's gain of 3.68% in that time.
Investors will be hoping for strength from ARNC as it approaches its next earnings release. The company is expected to report EPS of $0.49, up 32.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.64 billion, up 1.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.86 per share and revenue of $14.33 billion. These totals would mark changes of +36.76% and +2.23%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ARNC. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.48% higher. ARNC is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, ARNC currently has a Forward P/E ratio of 13.9. Its industry sports an average Forward P/E of 15.33, so we one might conclude that ARNC is trading at a discount comparatively.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Arconic (ARNC) Gains But Lags Market: What You Should Know
Arconic closed at $25.84 in the latest trading session, marking a +0.08% move from the prior day. This change lagged the S&P 500's 0.12% gain on the day. Elsewhere, the Dow lost 0.08%, while the tech-heavy Nasdaq added 0.54%.
Prior to today's trading, shares of the maker of engineered products for the aerospace and other industries had gained 10.86% over the past month. This has outpaced the Basic Materials sector's gain of 4.76% and the S&P 500's gain of 3.68% in that time.
Investors will be hoping for strength from ARNC as it approaches its next earnings release. The company is expected to report EPS of $0.49, up 32.43% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.64 billion, up 1.92% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.86 per share and revenue of $14.33 billion. These totals would mark changes of +36.76% and +2.23%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for ARNC. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.48% higher. ARNC is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, ARNC currently has a Forward P/E ratio of 13.9. Its industry sports an average Forward P/E of 15.33, so we one might conclude that ARNC is trading at a discount comparatively.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.