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Arconic Corporation (NYSE:ARNC) Is Worth Considering At $26.59

Arconic Corporation (NYSE:ARNC)’s traded shares stood at 3.1 million during the last session. At the close of trading, the stock’s price was $26.59, to imply a decrease of -0.93% or -$0.25 in intraday trading. The ARNC share’s 52-week high remains $31.24, putting it -17.49% down since that peak but still an impressive 38.59% since price per share fell to its 52-week low of $16.33. The company has a valuation of $2.70B, with an average of 1.21 million shares in intraday trading volume over the past 10 days and average of 939.44K shares over the past 3 months.

Analysts have given a consensus recommendation of a Hold for Arconic Corporation (ARNC), translating to a mean rating of 2.50. Of 4 analyst(s) looking at the stock, 1 analyst(s) give ARNC a Sell rating. 0 of those analysts rate the stock as Overweight while 1 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.25.

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Arconic Corporation (NYSE:ARNC) trade information

After registering a -0.93% downside in the last session, Arconic Corporation (ARNC) has traded red over the past five days. The stock hit a weekly high of 28.15 this Friday, 03/17/23, dropping -0.93% in its intraday price action. The 5-day price performance for the stock is 1.88%, and 10.01% over 30 days. With these gigs, the year-to-date price performance is 25.66%. Short interest in Arconic Corporation (NYSE:ARNC) saw shorts transact 2.82 million shares and set a 5.08 days time to cover.

Analysts on Wall Street suggest a consensus price target of $24.25, implying a decrease of -9.65% to the stock’s current value. The extremes give us $21.00 and $29.00 for target low and target high price respectively. As such, ARNC has been trading -9.06% off suggested target high and 21.02% from its likely low.

Arconic Corporation (ARNC) estimates and forecasts

Looking at statistics comparing Arconic Corporation share performance against respective industry, we note that the company has outperformed competitors. Arconic Corporation (ARNC) shares are 25.19% up over the last 6 months, with its year-to-date growth rate higher than industry average at -0.66% against -24.10%. The rating firms project that company’s revenue will grow 20.80% compared to the previous financial year.

Revenue forecast for the current quarter as set by 4 analysts is $2.04 billion. Meanwhile, for the quarter ending Mar 2023, a total of 4 analyst(s) estimate revenue growth to $1.97 billion.Earnings reports from the last fiscal year show that sales brought in $2.14 billion and $2.19 billion respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -4.40% before dropping -10.10% in the following quarter.

An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -23.80% for the past 5-year period. While 2023 is set for a 51.80% return in earnings, projections for the next 5 years are at 12.66% annually.

ARNC Dividends

Arconic Corporation has its next earnings report out between May 01 and May 05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Arconic Corporation has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

Arconic Corporation (NYSE:ARNC)’s Major holders

Arconic Corporation insiders hold 0.95% of total outstanding shares, with institutional holders owning 97.61% of the shares at 98.54% float percentage. In total, 97.61% institutions holds shares in the company, led by Blackrock Inc. As of Sep 29, 2022, the company held over 19.41 million shares (or 19.12% of shares), all amounting to roughly $330.68 million.

The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 11.9 million shares, or about 11.72% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $202.75 million.

We also have iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the Arconic Corporation (ARNC) shares. Going by data provided on Dec 30, 2022, iShares Core S&P Smallcap ETF holds roughly 7.52 million shares. This is just over 7.41% of the total shares, with a market valuation of $159.17 million. Data from the same date shows that the other fund manager holds a little less at 3.06 million, or 3.02% of the shares, all valued at about 52.21 million.

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