Wall Street brokerages expect Alcoa Corp. (NYSE:AA) to announce $3.37 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Alcoa Corp.’s earnings. The lowest sales estimate is $3.29 billion and the highest is $3.44 billion. Alcoa Corp. posted sales of $2.54 billion in the same quarter last year, which suggests a positive year over year growth rate of 32.7%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 23rd.

According to Zacks, analysts expect that Alcoa Corp. will report full-year sales of $3.37 billion for the current fiscal year, with estimates ranging from $11.50 billion to $11.92 billion. For the next year, analysts forecast that the firm will report sales of $12.32 billion per share, with estimates ranging from $12.10 billion to $12.49 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Alcoa Corp..

Alcoa Corp. (NYSE:AA) last issued its 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 company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $0.32 EPS. Alcoa Corp.’s quarterly revenue was up 27.3% on a year-over-year basis.

Several brokerages recently commented on AA. Gabelli lowered Alcoa Corp. from a “buy” rating to a “hold” rating and upped their target price for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Berenberg Bank set a $44.00 target price on Alcoa Corp. and gave the company a “hold” rating in a research report on Wednesday, October 18th. J P Morgan Chase & Co restated a “buy” rating and set a $60.00 target price on shares of Alcoa Corp. in a research report on Thursday, October 19th. Macquarie restated a “buy” rating and set a $62.00 target price (up previously from $55.00) on shares of Alcoa Corp. in a research report on Tuesday, October 10th. Finally, Cowen and Company set a $51.00 target price on Alcoa Corp. and gave the company a “hold” rating in a research report on Wednesday, October 11th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $49.88.

Alcoa Corp. (NYSE AA) opened at 47.42 on Tuesday. The company has a market cap of $8.74 billion and a PE ratio of 53.95. The firm’s 50-day moving average price is $46.86 and its 200-day moving average price is $46.75. Alcoa Corp. has a one year low of $21.78 and a one year high of $50.31.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Alcoa Corp. by 14.5% in the second quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock valued at $484,895,000 after purchasing an additional 1,885,745 shares in the last quarter. Elliott Management Corp lifted its holdings in shares of Alcoa Corp. by 14.7% in the second quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock valued at $383,228,000 after purchasing an additional 1,500,000 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in shares of Alcoa Corp. by 22.8% in the second quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock valued at $256,262,000 after purchasing an additional 1,458,488 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Alcoa Corp. by 14.1% in the second quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock valued at $253,986,000 after purchasing an additional 958,494 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Alcoa Corp. by 163.5% in the second 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 purchasing an additional 2,816,320 shares in the last quarter.

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About Alcoa Corp.

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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Earnings History and Estimates for Alcoa Corp. (NYSE:AA)

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