Equities research analysts forecast that Alcoa Corp (NYSE:AA) will report $0.65 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Alcoa’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.73. Alcoa reported earnings per share of $0.63 in the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The company is scheduled to report its next quarterly earnings report after the market closes on Wednesday, April 18th.
According to Zacks, analysts expect that Alcoa will report full year earnings of $3.57 per share for the current year, with EPS estimates ranging from $2.70 to $4.65. For the next year, analysts anticipate that the business will post earnings of $3.64 per share, with EPS estimates ranging from $2.73 to $4.43. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last announced its 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). Alcoa had a net margin of 1.86% and a return on equity of 7.20%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.29 billion. During the same quarter last year, the business posted $0.14 earnings per share. The business’s quarterly revenue was up 25.1% compared to the same quarter last year.
A number of analysts have recently weighed in on AA shares. ValuEngine lowered Alcoa from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 7th. Bank of America restated a “buy” rating and issued a $63.00 target price (down from $67.00) on shares of Alcoa in a research note on Thursday, January 18th. Citigroup raised their target price on Alcoa to $65.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. BMO Capital Markets restated a “buy” rating and issued a $65.00 target price on shares of Alcoa in a research note on Friday, December 22nd. Finally, Morgan Stanley set a $55.00 target price on Alcoa and gave the company a “buy” rating in a research note on Tuesday, December 19th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $57.50.
Shares of NYSE:AA traded up $3.05 during midday trading on Wednesday, reaching $51.10. The company’s stock had a trading volume of 1,507,053 shares, compared to its average volume of 3,944,524. Alcoa has a fifty-two week low of $29.55 and a fifty-two week high of $57.50. The firm has a market cap of $8,945.74, a PE ratio of 16.54, a price-to-earnings-growth ratio of 1.56 and a beta of 0.28. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.86 and a current ratio of 1.30.
In related news, COO Tomas Mar Sigurdsson sold 10,000 shares of Alcoa stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total value of $513,700.00. Following the completion of the sale, the chief operating officer now directly owns 46,832 shares in the company, valued at $2,405,759.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP William F. Oplinger sold 229,475 shares of Alcoa stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $52.86, for a total value of $12,130,048.50. Following the completion of the sale, the vice president now owns 108,915 shares of the company’s stock, valued at $5,757,246.90. The disclosure for this sale can be found here.
Institutional investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. acquired a new position in shares of Alcoa during the 4th quarter worth about $103,000. Cerebellum GP LLC acquired a new position in shares of Alcoa during the 4th quarter worth about $127,000. Barrett Asset Management LLC acquired a new position in shares of Alcoa during the 4th quarter worth about $129,000. Fruth Investment Management acquired a new position in shares of Alcoa during the 4th quarter worth about $200,000. Finally, HL Financial Services LLC acquired a new position in shares of Alcoa during the 4th quarter worth about $200,000.
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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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