Arcosa (NYSE:ACA) Announces Earnings Results

Arcosa (NYSE:ACA) posted its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13, Briefing.com reports. Arcosa had a return on equity of 6.35% and a net margin of 6.05%. The company had revenue of $640.40 million for the quarter, compared to analysts’ expectations of $682.52 million. During the same period last year, the firm earned $0.73 earnings per share. Arcosa’s quarterly revenue was up 8.2% on a year-over-year basis. Arcosa updated its FY 2024 guidance to EPS.

Arcosa Stock Performance

Shares of NYSE ACA traded up $0.20 during midday trading on Thursday, reaching $95.36. 91,632 shares of the company were exchanged, compared to its average volume of 235,568. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. Arcosa has a 1 year low of $61.98 and a 1 year high of $97.65. The stock has a fifty day simple moving average of $91.68 and a 200 day simple moving average of $86.86. The stock has a market cap of $4.63 billion, a P/E ratio of 32.43 and a beta of 0.71.

Arcosa Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Tuesday, October 15th. Arcosa’s dividend payout ratio is currently 6.85%.

Insider Buying and Selling

In other Arcosa news, Director Steven J. Demetriou acquired 6,000 shares of the stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $87.70 per share, with a total value of $526,200.00. Following the acquisition, the director now owns 9,943 shares of the company’s stock, valued at $872,001.10. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bryan Stevenson sold 4,000 shares of Arcosa stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $83.78, for a total transaction of $335,120.00. Following the completion of the sale, the insider now directly owns 35,333 shares in the company, valued at approximately $2,960,198.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven J. Demetriou purchased 6,000 shares of Arcosa stock in a transaction dated Thursday, September 12th. The shares were bought at an average price of $87.70 per share, with a total value of $526,200.00. Following the completion of the transaction, the director now owns 9,943 shares in the company, valued at approximately $872,001.10. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ACA. Stephens upgraded Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price target on the stock in a research note on Wednesday, August 7th. Oppenheimer raised their price target on Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Barclays started coverage on Arcosa in a report on Tuesday. They set an “overweight” rating and a $106.00 price objective on the stock.

Arcosa Company Profile

Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in the United States. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products.