Wall Street analysts expect that Alcoa Corp (NYSE:AA) will report ($0.17) earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Alcoa’s earnings. The highest EPS estimate is $0.06 and the lowest is ($0.27). Alcoa reported earnings of $0.66 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 125.8%. The business is scheduled to report its next quarterly earnings results on Wednesday, January 15th.
On average, analysts expect that Alcoa will report full-year earnings of ($0.81) per share for the current year, with EPS estimates ranging from ($0.96) to ($0.55). For the next fiscal year, analysts anticipate that the company will post earnings of $0.84 per share, with EPS estimates ranging from $0.05 to $1.60. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 16th. The industrial products company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.09). Alcoa had a negative net margin of 6.87% and a negative return on equity of 0.03%. The company had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. Alcoa’s revenue was down 24.3% on a year-over-year basis.
AA has been the subject of several research reports. Credit Suisse Group upgraded Alcoa from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $26.00 to $27.00 in a research report on Wednesday, September 11th. Morgan Stanley restated an “equal weight” rating and set a $25.00 price objective on shares of Alcoa in a research report on Thursday. Jefferies Financial Group downgraded Alcoa from a “buy” rating to a “hold” rating and cut their price objective for the stock from $29.00 to $23.00 in a research report on Thursday, July 18th. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Goldman Sachs Group upgraded Alcoa from a “neutral” rating to a “buy” rating in a research report on Monday, September 23rd. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Alcoa currently has a consensus rating of “Hold” and an average price target of $27.50.
A number of hedge funds have recently added to or reduced their stakes in AA. FMR LLC grew its stake in Alcoa by 136.4% in the 1st quarter. FMR LLC now owns 1,048,586 shares of the industrial products company’s stock worth $29,528,000 after acquiring an additional 605,094 shares during the period. Amundi Pioneer Asset Management Inc. grew its stake in shares of Alcoa by 0.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 187,756 shares of the industrial products company’s stock valued at $5,287,000 after buying an additional 1,251 shares during the period. Exane Derivatives purchased a new stake in shares of Alcoa during the 2nd quarter valued at $328,000. Fox Run Management L.L.C. purchased a new stake in shares of Alcoa during the 2nd quarter valued at $301,000. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Alcoa during the 2nd quarter valued at $25,000.
Shares of Alcoa stock traded down $0.03 during trading on Tuesday, hitting $22.53. 3,538,131 shares of the company were exchanged, compared to its average volume of 3,747,501. The company has a quick ratio of 0.81, a current ratio of 1.48 and a debt-to-equity ratio of 0.28. Alcoa has a fifty-two week low of $16.46 and a fifty-two week high of $36.72. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 6.29 and a beta of 1.47. The firm has a 50 day moving average price of $20.68 and a 200 day moving average price of $21.78.
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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