Arcosa (NYSE:ACA) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Arcosa (NYSE:ACA) announced its quarterly earnings results on Wednesday. The company reported $1.13 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.06), FiscalAI reports. Arcosa had a net margin of 7.88% and a return on equity of 8.52%. The business had revenue of $658.70 million for the quarter, compared to the consensus estimate of $687.50 million.

Arcosa Stock Up 0.1%

Shares of NYSE ACA traded up $0.13 during trading on Wednesday, hitting $145.35. The stock had a trading volume of 665,435 shares, compared to its average volume of 454,500. The firm has a fifty day moving average of $138.73 and a two-hundred day moving average of $124.20. The company has a market capitalization of $7.14 billion, a PE ratio of 32.09, a PEG ratio of 2.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.32 and a quick ratio of 1.60. Arcosa has a 12 month low of $84.70 and a 12 month high of $146.92.

Arcosa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th were paid a $0.05 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.1%. Arcosa’s dividend payout ratio is presently 4.42%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP bought a new position in shares of Arcosa during the 3rd quarter worth approximately $284,000. First Manhattan CO. LLC. bought a new position in shares of Arcosa in the fourth quarter valued at approximately $259,000. United Services Automobile Association bought a new position in shares of Arcosa in the first quarter valued at approximately $256,000. Corient Private Wealth LLC purchased a new stake in shares of Arcosa during the second quarter valued at approximately $244,000. Finally, Wexford Capital LP purchased a new stake in shares of Arcosa during the third quarter valued at approximately $242,000. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on ACA. Citigroup lowered shares of Arcosa to a “hold” rating in a research note on Tuesday, June 23rd. Wall Street Zen upgraded shares of Arcosa from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings cut shares of Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Oppenheimer downgraded Arcosa from an “outperform” rating to a “market perform” rating in a research note on Friday, June 26th. Finally, Texas Capital lowered Arcosa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $138.33.

About Arcosa

Arcosa, Inc (NYSE: ACA) is a Dallas‐based industrial company that was formed through the spin‐off of Trinity Industries’ construction products business in 2018. Since its inception, Arcosa has focused on the manufacture and sale of critical infrastructure components, serving a diverse set of end markets including transportation, construction and energy.

The company’s Construction Products segment produces a broad range of highway safety products, such as guardrail systems, sign supports and crash cushions, as well as aggregates and ready‐mix concrete.