Arcosa (NYSE:ACA) Posts Earnings Results

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

Arcosa Stock Down 1.3 %

Shares of NYSE:ACA traded down $1.19 during mid-day trading on Thursday, hitting $93.97. 34,106 shares of the company traded hands, compared to its average volume of 235,296. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. The stock has a 50-day moving average price of $91.52 and a two-hundred day moving average price of $86.81. Arcosa has a 12-month low of $61.98 and a 12-month high of $97.65. The stock has a market cap of $4.57 billion, a P/E ratio of 32.59 and a beta of 0.71.

Arcosa Dividend Announcement

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

Insider Buying and Selling

In other Arcosa news, Director Steven J. Demetriou bought 6,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were bought at an average cost of $87.70 per share, for a total transaction of $526,200.00. Following the purchase, the director now directly owns 9,943 shares of the company’s stock, valued at approximately $872,001.10. This trade represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Arcosa news, CEO Antonio Carrillo acquired 12,125 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $82.05 per share, with a total value of $994,856.25. Following the acquisition, the chief executive officer now owns 406,275 shares in the company, valued at approximately $33,334,863.75. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven J. Demetriou purchased 6,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $87.70 per share, with a total value of $526,200.00. Following the completion of the acquisition, the director now directly owns 9,943 shares of the company’s stock, valued at approximately $872,001.10. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ACA shares. 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 boosted their target price on Arcosa from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Barclays assumed coverage on shares of Arcosa in a research note on Tuesday. They issued an “overweight” rating and a $106.00 price target on the stock.

About Arcosa

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.