FY2017 EPS Estimates for Alcoa Corp Boosted by Gabelli (AA)
Alcoa Corp (NYSE:AA) – Investment analysts at Gabelli boosted their FY2017 earnings per share estimates for Alcoa Corp in a research report issued to clients and investors on Wednesday. Gabelli analyst J. Bergner now forecasts that the industrial products company will post earnings per share of $3.15 for the year, up from their prior forecast of $2.60. Gabelli has a “Hold” rating and a $60.00 price objective on the stock. Gabelli also issued estimates for Alcoa Corp’s FY2018 earnings at $3.55 EPS and FY2019 earnings at $3.45 EPS.
A number of other brokerages also recently issued reports on AA. Berenberg Bank downgraded shares of Alcoa Corp from a “buy” rating to a “hold” rating and increased their price objective for the stock from $41.00 to $44.00 in a research note on Friday, September 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $47.00 price objective on shares of Alcoa Corp in a report on Wednesday, September 20th. Citigroup Inc. reiterated a “buy” rating and issued a $53.00 price objective on shares of Alcoa Corp in a report on Friday, September 29th. BMO Capital Markets raised their price objective on shares of Alcoa Corp from $45.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Finally, Zacks Investment Research upgraded shares of Alcoa Corp from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Thursday, September 14th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $45.53.
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Alcoa Corp (NYSE:AA) opened at 48.25 on Friday. Alcoa Corp has a 52-week low of $20.00 and a 52-week high of $49.30. The firm has a market capitalization of $8.89 billion and a price-to-earnings ratio of 54.89. The firm has a 50-day moving average of $45.79 and a 200-day moving average of $45.79.
Alcoa Corp (NYSE:AA) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Alcoa Corp had a net margin of 1.63% and a return on equity of 3.29%. The business had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 23.1% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. WINTON GROUP Ltd raised its holdings in Alcoa Corp by 55.5% in the second quarter. WINTON GROUP Ltd now owns 33,950 shares of the industrial products company’s stock worth $1,108,000 after purchasing an additional 12,111 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Alcoa Corp by 26.7% in the second quarter. Public Employees Retirement System of Ohio now owns 74,910 shares of the industrial products company’s stock worth $2,446,000 after purchasing an additional 15,790 shares in the last quarter. BW Gestao de Investimentos Ltda. bought a new position in Alcoa Corp in the second quarter worth $11,846,000. California State Teachers Retirement System raised its holdings in Alcoa Corp by 13.7% in the second quarter. California State Teachers Retirement System now owns 341,520 shares of the industrial products company’s stock worth $11,151,000 after purchasing an additional 41,261 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in Alcoa Corp by 0.3% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 35,996 shares of the industrial products company’s stock worth $1,175,000 after purchasing an additional 104 shares in the last quarter.
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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