Arcosa (NYSE:ACA) Announces Quarterly Earnings Results

Arcosa (NYSE:ACA) announced its quarterly earnings results on Wednesday. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13, Briefing.com reports. Arcosa had a net margin of 6.05% and a return on equity of 6.35%. 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 posted $0.73 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. 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, reaching $93.97. 34,106 shares of the stock were exchanged, compared to its average volume of 235,296. The company has a market cap of $4.57 billion, a P/E ratio of 32.59 and a beta of 0.71. The stock’s 50 day simple moving average is $91.52 and its 200-day simple moving average is $86.81. The company has a quick ratio of 1.36, a current ratio of 2.31 and a debt-to-equity ratio of 0.29. Arcosa has a one year low of $61.98 and a one year high of $97.65.

Arcosa Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays started coverage on Arcosa in a report on Tuesday. They set an “overweight” rating and a $106.00 target price on the stock. Stephens upgraded Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective on the stock in a report on Wednesday, August 7th. Finally, Oppenheimer increased 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.

Insiders Place Their Bets

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