In the latest trading session, Arconic (ARNC) closed at $26.77, marking a +0.19% move from the previous day. This change outpaced the S&P 500's 0.01% loss on the day. At the same time, the Dow added 0.06%, and the tech-heavy Nasdaq lost 0.06%.
Heading into today, shares of the maker of engineered products for the aerospace and other industries had gained 6.45% over the past month, outpacing the Basic Materials sector's gain of 5.92% and the S&P 500's gain of 3.23% in that time.
Wall Street will be looking for positivity from ARNC as it approaches its next earnings report date. On that day, ARNC is projected to report earnings of $0.51 per share, which would represent year-over-year growth of 59.38%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.62 billion, up 2.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.04 per share and revenue of $14.48 billion, which would represent changes of +50% and +3.32%, respectively, from the prior year.
Any recent changes to analyst estimates for ARNC should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. ARNC currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, ARNC is holding a Forward P/E ratio of 13.1. This represents a discount compared to its industry's average Forward P/E of 14.71.
The Mining - Non Ferrous industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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