Alcoa Corp. (AA) Expected to Announce Quarterly Sales of $2.93 Billion
Wall Street analysts forecast that Alcoa Corp. (NYSE:AA) will announce sales of $2.93 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Alcoa Corp.’s earnings, with the highest sales estimate coming in at $2.95 billion and the lowest estimate coming in at $2.91 billion. The company is expected to issue its next earnings results after the market closes on Wednesday, July 19th.
On average, analysts expect that Alcoa Corp. will report full-year sales of $2.93 billion for the current fiscal year, with estimates ranging from $11.18 billion to $11.52 billion. For the next fiscal year, analysts anticipate that the business will post sales of $11.39 billion per share, with estimates ranging from $11.25 billion to $11.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Alcoa Corp..
Alcoa Corp. (NYSE:AA) last announced its earnings results on Monday, April 24th. The industrial products company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.15. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.96 billion. The business’s revenue was up 24.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.07 earnings per share.
AA has been the subject of a number of analyst reports. Morgan Stanley increased their price target on Alcoa Corp. from $40.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, March 14th. Zacks Investment Research downgraded Alcoa Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, April 3rd. Vetr raised Alcoa Corp. from a “hold” rating to a “buy” rating and set a $37.78 price target for the company in a report on Tuesday, March 7th. Deutsche Bank AG reissued a “hold” rating and issued a $44.00 price target (up previously from $37.00) on shares of Alcoa Corp. in a report on Sunday, June 25th. Finally, Goldman Sachs Group, Inc. (The) raised Alcoa Corp. from a “neutral” rating to a “buy” rating in a report on Monday, March 6th. Five analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $37.50.
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Several large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its stake in Alcoa Corp. by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock valued at $142,000 after buying an additional 132 shares in the last quarter. Parallel Advisors LLC bought a new stake in Alcoa Corp. during the first quarter valued at $133,000. Van ECK Associates Corp raised its stake in Alcoa Corp. by 42.3% in the first quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock valued at $191,000 after buying an additional 1,654 shares in the last quarter. AXA bought a new stake in Alcoa Corp. during the first quarter valued at $206,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its stake in Alcoa Corp. by 261.3% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,222 shares of the industrial products company’s stock valued at $214,000 after buying an additional 4,500 shares in the last quarter.
Shares of Alcoa Corp. (AA) traded down 1.12% during trading on Friday, hitting $32.81. The stock had a trading volume of 964,301 shares. Alcoa Corp. has a 12-month low of $20.00 and a 12-month high of $39.78. The stock has a 50-day moving average of $32.11 and a 200 day moving average of $33.31. The firm has a market cap of $6.04 billion and a price-to-earnings ratio of 176.40.
Alcoa Corp. 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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