Analysts expect Alcoa Corp (NYSE:AA) to announce sales of $2.51 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Alcoa’s earnings. The highest sales estimate is $2.55 billion and the lowest is $2.47 billion. Alcoa reported sales of $3.34 billion during the same quarter last year, which indicates a negative year over year growth rate of 24.9%. The business is expected to issue its next quarterly earnings report on Wednesday, January 15th.
On average, analysts expect that Alcoa will report full year sales of $10.50 billion for the current financial year, with estimates ranging from $10.45 billion to $10.55 billion. For the next fiscal year, analysts expect that the firm will post sales of $10.51 billion, with estimates ranging from $10.30 billion to $10.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 16th. The industrial products company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.09). The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Alcoa had a negative return on equity of 0.03% and a negative net margin of 6.87%. The company’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share.
Several research firms have commented on AA. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. G.Research downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Bank of America restated a “neutral” rating and set a $20.00 price objective (down from $25.00) on shares of Alcoa in a report on Friday, August 16th. JPMorgan Chase & Co. reduced their price objective on Alcoa from $44.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 10th. Finally, Gabelli downgraded Alcoa from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Alcoa presently has a consensus rating of “Hold” and an average price target of $27.50.
Several large investors have recently made changes to their positions in AA. Banco Santander S.A. grew its stake in Alcoa by 64.7% during the 3rd quarter. Banco Santander S.A. now owns 18,512 shares of the industrial products company’s stock worth $372,000 after buying an additional 7,272 shares during the last quarter. D.A. Davidson & CO. grew its stake in Alcoa by 24.7% during the 3rd quarter. D.A. Davidson & CO. now owns 23,427 shares of the industrial products company’s stock worth $470,000 after buying an additional 4,647 shares during the last quarter. Prime Capital Investment Advisors LLC grew its stake in Alcoa by 80.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 148,283 shares of the industrial products company’s stock worth $2,976,000 after buying an additional 65,988 shares during the last quarter. First Mercantile Trust Co. purchased a new position in Alcoa during the 3rd quarter worth $112,000. Finally, Sciencast Management LP purchased a new position in Alcoa during the 3rd quarter worth $1,135,000.
AA traded down $0.03 during trading on Thursday, hitting $22.53. 3,538,131 shares of the stock were exchanged, compared to its average volume of 3,747,501. The firm has a 50 day simple moving average of $20.68 and a 200 day simple moving average of $21.78. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 6.29 and a beta of 1.47. Alcoa has a 1 year low of $16.46 and a 1 year high of $36.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.81 and a current ratio of 1.48.
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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