Arconic (ARNC, $22.14) adds $500 million to existing $1 billion share buyback program
Arconic added $500 million more to its share repurchase program.
The metal engineering company’s board approved the $500 million share-buyback - which will be added to its existing program of $1 billion, out of of which $100 million remains available through next year.
On May 2, Arconic began a $200 million accelerated share repurchase plan. In April, it completed a $700 million accelerated repurchase of about 36.4 million shares.
Analysts expect that Arconic’s full year earnings would come in at $1.74 per share, and predict earnings per share in the range of $1.59 and $1.83, according to Zacks survey (as reported by Rockland Register).
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
Advertisement
General Information
a manufacturer of custom aluminum products
Industry Steel
Advertisement