Arcosa (NYSE:ACA) Announces Earnings Results, Beats Expectations By $0.08 EPS

Arcosa (NYSE:ACA) announced its earnings results on Thursday. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08, Briefing.com reports. Arcosa had a net margin of 6.05% and a return on equity of 6.40%. The firm had revenue of $664.70 million for the quarter, compared to analyst estimates of $661.54 million. During the same quarter last year, the business earned $0.76 earnings per share. Arcosa’s revenue was up 13.7% compared to the same quarter last year. Arcosa updated its FY 2024 guidance to EPS.

Arcosa Stock Performance

NYSE:ACA opened at $79.07 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.28 and a debt-to-equity ratio of 0.25. The company has a market cap of $3.84 billion, a P/E ratio of 27.08 and a beta of 0.74. Arcosa has a fifty-two week low of $61.98 and a fifty-two week high of $95.50. The firm’s 50 day moving average is $85.97 and its two-hundred day moving average is $83.43.

Arcosa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date was Monday, July 15th. Arcosa’s dividend payout ratio is currently 6.85%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised their target price on shares of Arcosa from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Arcosa presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Insiders Place Their Bets

In other news, insider Kerry S. Cole sold 10,978 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $88.71, for a total value of $973,858.38. Following the transaction, the insider now owns 18,527 shares of the company’s stock, valued at approximately $1,643,530.17. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by insiders.

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.