Wall Street brokerages expect Alcoa Corp (NYSE:AA) to report earnings per share of $0.87 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Alcoa’s earnings, with estimates ranging from $0.52 to $1.40. Alcoa reported earnings per share of $0.63 in the same quarter last year, which would indicate a positive year over year growth rate of 38.1%. The business is expected to issue its next quarterly earnings report on Monday, April 23rd.
According to Zacks, analysts expect that Alcoa will report full-year earnings of $4.12 per share for the current year, with EPS estimates ranging from $3.11 to $5.93. For the next financial year, analysts anticipate that the company will report earnings of $4.24 per share, with EPS estimates ranging from $2.73 to $5.99. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Alcoa.
Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.19). The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.29 billion. Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share.
Several analysts have recently commented on AA shares. Citigroup reiterated a “buy” rating and issued a $55.00 price target (up from $53.00) on shares of Alcoa in a research report on Friday, October 20th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $60.00 price target on shares of Alcoa in a research report on Thursday, October 19th. Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and increased their price target for the company from $42.00 to $61.00 in a research report on Wednesday, December 20th. Gabelli lowered shares of Alcoa from a “buy” rating to a “hold” rating and increased their price target for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $60.00 price target on shares of Alcoa in a research report on Wednesday, November 15th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $57.50.
Shares of Alcoa (NYSE AA) opened at $54.00 on Friday. The company has a market cap of $9,990.00 and a P/E ratio of 46.55. Alcoa has a 1 year low of $29.55 and a 1 year high of $57.50. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90.
In related news, VP William F. Oplinger sold 229,475 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $52.86, for a total transaction of $12,130,048.50. Following the sale, the vice president now owns 108,915 shares in the company, valued at $5,757,246.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 280,975 shares of company stock worth $12,149,279.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Alcoa by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after purchasing an additional 1,885,745 shares during the last quarter. Elliott Management Corp boosted its holdings in shares of Alcoa by 14.7% in the 2nd quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after purchasing an additional 1,500,000 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in shares of Alcoa by 22.8% in the 2nd quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock valued at $256,262,000 after purchasing an additional 1,458,488 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Alcoa by 14.1% in the 2nd quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock valued at $253,986,000 after purchasing an additional 958,494 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Alcoa by 4.5% in the 2nd quarter. State Street Corp now owns 3,506,524 shares of the industrial products company’s stock valued at $114,483,000 after purchasing an additional 151,562 shares during the last quarter.
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Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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