Equities analysts predict that Alcoa Corp (NYSE:AA) will post sales of $3.40 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Alcoa’s earnings. The highest sales estimate is $3.53 billion and the lowest is $3.25 billion. Alcoa posted sales of $2.96 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.9%. The firm is expected to issue its next earnings report after the market closes on Wednesday, October 17th.
According to Zacks, analysts expect that Alcoa will report full-year sales of $13.65 billion for the current financial year, with estimates ranging from $13.22 billion to $14.04 billion. For the next year, analysts forecast that the firm will report sales of $13.84 billion, with estimates ranging from $13.44 billion to $14.62 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last issued its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.19. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. Alcoa’s revenue was up 25.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 earnings per share.
Several analysts have recently commented on the company. B. Riley assumed coverage on Alcoa in a research report on Thursday, June 21st. They issued a “neutral” rating and a $47.00 target price for the company. Morgan Stanley decreased their target price on Alcoa from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, July 23rd. BMO Capital Markets decreased their target price on Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, July 19th. ValuEngine cut Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Finally, Zacks Investment Research raised Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research report on Tuesday, June 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $61.13.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Alcoa by 5.1% during the second quarter. BlackRock Inc. now owns 9,057,264 shares of the industrial products company’s stock worth $424,605,000 after acquiring an additional 437,832 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Alcoa by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,479,257 shares of the industrial products company’s stock worth $163,101,000 after acquiring an additional 437,117 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Alcoa by 14.7% during the second quarter. Renaissance Technologies LLC now owns 2,086,096 shares of the industrial products company’s stock worth $97,796,000 after acquiring an additional 267,900 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Alcoa by 8.1% during the first quarter. Millennium Management LLC now owns 1,768,611 shares of the industrial products company’s stock worth $79,517,000 after acquiring an additional 133,186 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Alcoa by 12.1% during the second quarter. Northern Trust Corp now owns 1,600,561 shares of the industrial products company’s stock worth $75,034,000 after acquiring an additional 173,323 shares in the last quarter.
Shares of Alcoa stock opened at $35.67 on Friday. The firm has a market capitalization of $7.53 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 2.11 and a beta of -0.08. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 0.27. Alcoa has a 12 month low of $35.13 and a 12 month high of $62.35.
Alcoa Company Profile
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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