Analysts expect that Alcoa Corp (NYSE:AA) will post $3.44 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Alcoa’s earnings. The lowest sales estimate is $3.31 billion and the highest is $3.53 billion. Alcoa reported sales of $2.96 billion during the same quarter last year, which would suggest a positive year over year growth rate of 16.2%. The business is expected to announce its next earnings report on Wednesday, October 17th.
According to Zacks, analysts expect that Alcoa will report full-year sales of $13.59 billion for the current financial year, with estimates ranging from $13.26 billion to $14.04 billion. For the next financial year, analysts expect that the company will post sales of $13.64 billion per share, with estimates ranging from $12.76 billion to $14.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.19. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.49 billion. Alcoa had a net margin of 1.11% and a return on equity of 10.30%. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS.
AA has been the topic of a number of recent research reports. ValuEngine lowered shares of Alcoa from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 16th. Deutsche Bank set a $70.00 target price on shares of Alcoa and gave the company a “buy” rating in a report on Wednesday, May 30th. Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 target price on the stock in a report on Tuesday, June 19th. B. Riley assumed coverage on shares of Alcoa in a research note on Thursday, June 21st. They set a “neutral” rating and a $47.00 price objective for the company. Finally, BMO Capital Markets dropped their price objective on shares of Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $61.06.
NYSE:AA opened at $41.00 on Friday. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 10.12, a PEG ratio of 0.90 and a beta of -0.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.42. Alcoa has a 12-month low of $40.03 and a 12-month high of $62.35.
Several hedge funds and other institutional investors have recently bought and sold shares of AA. Acadian Asset Management LLC acquired a new stake in Alcoa during the 2nd quarter worth approximately $105,000. Centaurus Financial Inc. acquired a new stake in Alcoa during the 1st quarter worth approximately $112,000. Quad Cities Investment Group LLC acquired a new stake in Alcoa during the 2nd quarter worth approximately $112,000. Berson & Corrado Investment Advisors LLC acquired a new stake in Alcoa during the 2nd quarter worth approximately $202,000. Finally, Lodestar Investment Counsel LLC IL acquired a new stake in Alcoa during the 2nd quarter worth approximately $205,000.
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.
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