Alcoa Corp (AA) Expected to Announce Quarterly Sales of $3.11 Billion

Analysts predict that Alcoa Corp (NYSE:AA) will report sales of $3.11 billion for the current quarter, according to Zacks. Two analysts have made estimates for Alcoa’s earnings, with the highest sales estimate coming in at $3.20 billion and the lowest estimate coming in at $3.02 billion. Alcoa reported sales of $2.66 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 16.9%. The company is scheduled to issue its next earnings report on Monday, April 23rd.

On average, analysts expect that Alcoa will report full year sales of $3.11 billion for the current fiscal year, with estimates ranging from $11.83 billion to $13.16 billion. For the next financial year, analysts anticipate that the company will post sales of $12.97 billion per share, with estimates ranging from $11.78 billion to $13.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Alcoa.

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

AA has been the topic of a number of recent research reports. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. increased their target price on Alcoa from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, February 5th. Zacks Investment Research cut Alcoa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 30th. Cowen reiterated a “market perform” rating and issued a $59.00 target price (up from $51.00) on shares of Alcoa in a report on Thursday, January 18th. Finally, Bank of America reiterated a “buy” rating and issued a $63.00 target price (down from $67.00) on shares of Alcoa in a report on Thursday, January 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $57.72.

In other Alcoa news, COO Tomas Mar Sigurdsson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total transaction of $513,700.00. Following the transaction, the chief operating officer now directly owns 46,832 shares in the company, valued at approximately $2,405,759.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP William F. Oplinger sold 229,475 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $52.86, for a total value of $12,130,048.50. Following the transaction, the vice president now owns 108,915 shares in the company, valued at $5,757,246.90. The disclosure for this sale can be found here.

A number of large investors have recently modified their holdings of AA. Northern Trust Corp lifted its stake in Alcoa by 10.7% during the 2nd quarter. Northern Trust Corp now owns 873,045 shares of the industrial products company’s stock valued at $28,505,000 after acquiring an additional 84,674 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Alcoa by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,436,360 shares of the industrial products company’s stock valued at $46,904,000 after acquiring an additional 53,096 shares in the last quarter. Voya Investment Management LLC lifted its stake in Alcoa by 12.3% during the 2nd quarter. Voya Investment Management LLC now owns 69,901 shares of the industrial products company’s stock valued at $2,282,000 after acquiring an additional 7,675 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in shares of Alcoa by 11.4% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 20,980 shares of the industrial products company’s stock valued at $684,000 after purchasing an additional 2,149 shares during the last quarter. Finally, State Street Corp increased its position in shares of Alcoa by 4.5% during the 2nd quarter. State Street Corp now owns 3,506,524 shares of the industrial products company’s stock valued at $114,483,000 after purchasing an additional 151,562 shares during the last quarter.

Alcoa (NYSE AA) opened at $47.30 on Wednesday. The stock has a market capitalization of $8,750.00 and a P/E ratio of 40.78. Alcoa has a twelve month low of $29.55 and a twelve month high of $57.50. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17.

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About Alcoa

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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