Equities analysts expect Alcoa Corp (NYSE:AA) to post ($0.22) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Alcoa’s earnings, with the lowest EPS estimate coming in at ($0.27) and the highest estimate coming in at ($0.14). Alcoa reported earnings per share of $0.66 during the same quarter last year, which suggests a negative year-over-year growth rate of 133.3%. The company is scheduled to report its next quarterly earnings report on Wednesday, January 15th.
According to Zacks, analysts expect that Alcoa will report full year earnings of ($0.83) per share for the current year, with EPS estimates ranging from ($0.96) to ($0.55). For the next year, analysts anticipate that the company will post earnings of $0.67 per share, with EPS estimates ranging from $0.05 to $1.60. Zacks’ EPS calculations are an average based on a survey of research firms that cover Alcoa.
Alcoa (NYSE:AA) last posted its earnings results 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). Alcoa had a negative net margin of 6.87% and a negative return on equity of 0.03%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The firm’s revenue was down 24.3% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the stock. Bank of America cut shares of Alcoa from a “neutral” rating to an “underperform” rating and set a $21.00 price objective on the stock. in a research note on Wednesday, November 13th. Credit Suisse Group raised shares of Alcoa from a “neutral” rating to an “outperform” rating and raised their target price for the company from $26.00 to $27.00 in a research note on Wednesday, September 11th. B. Riley raised their target price on shares of Alcoa from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Zacks Investment Research downgraded shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Finally, Goldman Sachs Group raised shares of Alcoa from a “neutral” rating to a “buy” rating in a research note on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alcoa has an average rating of “Hold” and a consensus target price of $28.09.
Shares of NYSE:AA traded up $0.11 on Thursday, hitting $19.87. The company’s stock had a trading volume of 4,065,898 shares, compared to its average volume of 3,697,778. Alcoa has a 12 month low of $16.46 and a 12 month high of $31.45. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 5.55 and a beta of 1.45. The stock’s 50-day moving average is $21.05 and its two-hundred day moving average is $21.11. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.81 and a current ratio of 1.48.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of Alcoa in the 2nd quarter worth $25,000. TRUE Private Wealth Advisors purchased a new stake in shares of Alcoa during the second quarter valued at $30,000. Lindbrook Capital LLC lifted its holdings in shares of Alcoa by 323.7% during the third quarter. Lindbrook Capital LLC now owns 1,339 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 1,023 shares during the last quarter. Regal Wealth Group Inc. purchased a new stake in shares of Alcoa during the third quarter valued at $30,000. Finally, Cerebellum GP LLC acquired a new position in shares of Alcoa in the 3rd quarter valued at $127,000.
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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