Alcoa Corp (AA) Forecasted to Post FY2018 Earnings of $4.05 Per Share

Alcoa Corp (NYSE:AA) – Investment analysts at Gabelli raised their FY2018 earnings estimates for Alcoa in a research report issued on Thursday. Gabelli analyst J. Bergner now expects that the industrial products company will earn $4.05 per share for the year, up from their prior forecast of $3.95. Gabelli currently has a “Hold” rating and a $60.00 target price on the stock. Gabelli also issued estimates for Alcoa’s FY2019 earnings at $3.60 EPS.

Several other brokerages have also weighed in on AA. Bank of America reaffirmed a “buy” rating and set a $63.00 target price (down previously from $67.00) on shares of Alcoa in a research note on Thursday. Citigroup increased their target price on shares of Alcoa to $65.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Berenberg Bank set a $44.00 target price on shares of Alcoa and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Morgan Stanley set a $55.00 target price on shares of Alcoa and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, Cowen set a $51.00 target price on shares of Alcoa and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.00.

Shares of Alcoa (AA) traded up $0.10 during mid-day trading on Friday, reaching $53.10. 5,760,000 shares of the company’s stock traded hands, compared to its average volume of 4,660,000. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $9,820.00 and a price-to-earnings ratio of 45.78. Alcoa has a one year low of $29.55 and a one year high of $57.50.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.19). Alcoa had a net margin of 1.86% and a return on equity of 6.90%. The firm had revenue of $3.17 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period in the prior year, the company posted $0.14 EPS. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new stake in Alcoa in the third quarter valued at approximately $99,757,000. Vanguard Group Inc. increased its stake in Alcoa 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 during the last quarter. Orbis Allan Gray Ltd increased its stake in Alcoa by 454.2% in the second quarter. Orbis Allan Gray Ltd now owns 1,928,763 shares of the industrial products company’s stock valued at $62,974,000 after purchasing an additional 1,580,729 shares during the last quarter. Elliott Management Corp increased its stake in Alcoa 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 during the last quarter. Finally, Balyasny Asset Management LLC increased its stake in Alcoa 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 during the last quarter.

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Alcoa 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.

Earnings History and Estimates for Alcoa (NYSE:AA)

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