Analysts expect that Alcoa Corp (NYSE:AA) will report $3.11 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Alcoa’s earnings, with the highest sales estimate coming in at $3.20 billion and the lowest estimate coming in at $3.02 billion. Alcoa posted sales of $2.66 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.9%. The firm is expected to announce its next earnings report on Monday, April 23rd.
According to Zacks, analysts expect that Alcoa will report full year sales of $3.11 billion for the current fiscal year, with estimates ranging from $11.83 billion to $13.16 billion. For the next fiscal year, analysts expect that the business will post sales of $12.97 billion per share, with estimates ranging from $11.78 billion to $13.59 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.19). The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.29 billion. Alcoa had a return on equity of 6.90% and a net margin of 1.86%. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS.
A number of equities analysts have commented on AA shares. Citigroup restated a “buy” rating and set a $55.00 price objective (up previously from $53.00) on shares of Alcoa in a research report on Friday, October 20th. BMO Capital Markets restated a “buy” rating and set a $60.00 price objective on shares of Alcoa in a research report on Wednesday, November 15th. Morgan Stanley set a $55.00 price objective on shares of Alcoa and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $42.00 to $61.00 in a research report on Wednesday, December 20th. Finally, Cowen restated a “market perform” rating and set a $59.00 price objective (up previously from $51.00) on shares of Alcoa in a research report on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $57.72.
In other news, COO Tomas Mar Sigurdsson sold 10,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $51.37, for a total value of $513,700.00. Following the completion of the transaction, the chief operating officer now owns 46,832 shares in the company, valued at approximately $2,405,759.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP William F. Oplinger sold 229,475 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now owns 108,915 shares of the company’s stock, valued at approximately $5,757,246.90. The disclosure for this sale can be found here.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. increased its holdings in 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 acquiring an additional 104 shares in the last quarter. Aperio Group LLC increased its holdings in Alcoa by 2.2% during the 3rd quarter. Aperio Group LLC now owns 48,560 shares of the industrial products company’s stock valued at $2,264,000 after acquiring an additional 1,054 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in Alcoa by 4.1% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 27,479 shares of the industrial products company’s stock valued at $1,482,000 after acquiring an additional 1,072 shares in the last quarter. Convergence Investment Partners LLC increased its holdings in Alcoa by 2.4% during the 4th quarter. Convergence Investment Partners LLC now owns 47,722 shares of the industrial products company’s stock valued at $2,571,000 after acquiring an additional 1,140 shares in the last quarter. Finally, First Allied Advisory Services Inc. boosted its stake in shares of Alcoa by 25.9% during the 4th quarter. First Allied Advisory Services Inc. now owns 5,684 shares of the industrial products company’s stock worth $307,000 after purchasing an additional 1,171 shares during the last quarter.
Shares of Alcoa (NYSE:AA) traded down $0.21 during trading on Wednesday, reaching $47.36. 8,400,000 shares of the company’s stock were exchanged, compared to its average volume of 4,590,000. The stock has a market cap of $8,760.00 and a P/E ratio of 40.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.38. Alcoa has a 52 week low of $29.55 and a 52 week high of $57.50.
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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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