Zacks: Brokerages Expect Alcoa Corp. (AA) to Announce $1.18 EPS
Equities analysts expect that Alcoa Corp. (NYSE:AA) will announce earnings of $1.18 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Alcoa Corp.’s earnings. The lowest EPS estimate is $0.84 and the highest is $1.49. Alcoa Corp. posted earnings of $0.14 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 742.9%. The firm is scheduled to announce its next earnings results on Tuesday, January 23rd.
On average, analysts expect that Alcoa Corp. will report full-year earnings of $3.15 per share for the current financial year, with EPS estimates ranging from $2.83 to $3.46. For the next fiscal year, analysts forecast that the business will report earnings of $3.61 per share, with EPS estimates ranging from $3.00 to $4.74. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Alcoa Corp..
Alcoa Corp. (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). Alcoa Corp. had a return on equity of 4.91% and a net margin of 2.61%. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the business posted $0.32 earnings per share. Alcoa Corp.’s revenue was up 27.3% on a year-over-year basis.
AA has been the topic of several analyst reports. Deutsche Bank AG upgraded Alcoa Corp. from a “hold” rating to a “buy” rating and increased their price objective for the company from $44.00 to $60.00 in a research note on Tuesday, September 12th. Citigroup Inc. restated a “buy” rating and issued a $45.00 price target on shares of Alcoa Corp. in a research note on Saturday, July 22nd. BMO Capital Markets lifted their target price on Alcoa Corp. from $45.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 13th. Zacks Investment Research cut Alcoa Corp. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 12th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Alcoa Corp. in a research report on Friday, July 21st. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Alcoa Corp. currently has an average rating of “Buy” and an average target price of $49.88.
A number of large investors have recently bought and sold shares of AA. BlackRock Inc. boosted its position in Alcoa Corp. by 4,113.0% in the 1st quarter. BlackRock Inc. now owns 6,820,599 shares of the industrial products company’s stock valued at $234,632,000 after buying an additional 6,658,703 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its position in Alcoa Corp. by 163.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock valued at $148,198,000 after buying an additional 2,816,320 shares during the last quarter. BT Investment Management Ltd purchased a new position in Alcoa Corp. in the 2nd quarter valued at about $83,380,000. Assenagon Asset Management S.A. purchased a new position in Alcoa Corp. in the 2nd quarter valued at about $63,686,000. Finally, Vanguard Group Inc. boosted its position in Alcoa Corp. by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after buying an additional 1,885,745 shares during the last quarter.
Shares of Alcoa Corp. (NYSE:AA) opened at 47.91 on Friday. Alcoa Corp. has a 52 week low of $20.81 and a 52 week high of $50.31. The company has a market capitalization of $8.83 billion and a price-to-earnings ratio of 54.51. The company’s 50 day moving average price is $46.73 and its 200-day moving average price is $46.73.
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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