Wall Street analysts expect Alcoa Corp (NYSE:AA) to report $1.23 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Alcoa’s earnings, with estimates ranging from $0.98 to $1.49. Alcoa reported earnings of $0.14 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 778.6%. The firm is expected to issue its next earnings results after the market closes on Wednesday, January 17th.
According to Zacks, analysts expect that Alcoa will report full year earnings of $3.19 per share for the current financial year, with EPS estimates ranging from $2.95 to $3.46. For the next year, analysts forecast that the business will post earnings of $3.89 per share, with EPS estimates ranging from $2.70 to $5.00. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). The company had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS.
A number of brokerages recently weighed in on AA. BMO Capital Markets reissued a “buy” rating and issued a $65.00 price target on shares of Alcoa in a research note on Friday, December 22nd. Macquarie reaffirmed a “buy” rating and set a $62.00 target price (up previously from $55.00) on shares of Alcoa in a research note on Tuesday, October 10th. Credit Suisse Group raised Alcoa from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $42.00 to $61.00 in a research note on Wednesday, December 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $47.00 target price on shares of Alcoa in a research note on Wednesday, September 20th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $60.00 target price on shares of Alcoa in a research note on Thursday, October 19th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $53.74.
Shares of Alcoa (AA) traded down $0.15 on Tuesday, reaching $56.76. The company had a trading volume of 4,216,639 shares, compared to its average volume of 3,970,000. The stock has a market cap of $10,500.00 and a PE ratio of 38.88. 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.
Several institutional investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Alcoa by 0.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 104 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Alcoa by 2.3% during the 2nd quarter. Private Advisor Group LLC now owns 9,433 shares of the industrial products company’s stock valued at $322,000 after buying an additional 208 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Alcoa by 3.8% during the 2nd quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock valued at $189,000 after buying an additional 213 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Alcoa by 3.7% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,049 shares of the industrial products company’s stock valued at $263,000 after buying an additional 288 shares during the last quarter. Finally, Veritable L.P. lifted its holdings in shares of Alcoa by 4.0% during the 2nd quarter. Veritable L.P. now owns 7,887 shares of the industrial products company’s stock valued at $258,000 after buying an additional 300 shares during the last quarter.
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Alcoa Company Profile
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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