Alcoa Corp (AA) Expected to Announce Earnings of $0.77 Per Share
Brokerages forecast that Alcoa Corp (NYSE:AA) will report earnings of $0.77 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Alcoa Corp’s earnings. The lowest EPS estimate is $0.69 and the highest is $0.85. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, October 18th.
On average, analysts expect that Alcoa Corp will report full-year earnings of $3.09 per share for the current fiscal year, with EPS estimates ranging from $2.82 to $3.37. For the next year, analysts forecast that the business will report earnings of $3.41 per share, with EPS estimates ranging from $1.22 to $4.55. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Alcoa Corp.
Alcoa Corp (NYSE:AA) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Alcoa Corp had a net margin of 1.63% and a return on equity of 3.29%. The firm had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm posted $0.15 EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis.
A number of brokerages have weighed in on AA. Gabelli cut shares of Alcoa Corp from a “buy” rating to a “hold” rating and lifted their price target for the company from $57.00 to $60.00 in a research report on Wednesday, October 4th. Berenberg Bank cut shares of Alcoa Corp from a “buy” rating to a “hold” rating and lifted their price objective for the company from $41.00 to $44.00 in a report on Friday, September 22nd. Macquarie restated a “buy” rating and issued a $62.00 price objective (up previously from $55.00) on shares of Alcoa Corp in a report on Tuesday. Cowen and Company set a $51.00 price objective on shares of Alcoa Corp and gave the company a “hold” rating in a report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and issued a $47.00 price objective on shares of Alcoa Corp in a report on Wednesday, September 20th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $47.83.
Large investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its position in shares of Alcoa Corp by 3.3% during the 1st quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock worth $142,000 after buying an additional 132 shares during the last quarter. Parallel Advisors LLC purchased a new stake in shares of Alcoa Corp during the 1st quarter worth approximately $133,000. NEXT Financial Group Inc lifted its position in shares of Alcoa Corp by 2.4% during the 2nd quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock worth $146,000 after buying an additional 104 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Alcoa Corp by 42.3% during the 1st quarter. Van ECK Associates Corp now owns 5,566 shares of the industrial products company’s stock worth $191,000 after buying an additional 1,654 shares during the last quarter. Finally, Global X Management Co. LLC lifted its position in shares of Alcoa Corp by 220.6% during the 2nd quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock worth $189,000 after buying an additional 3,993 shares during the last quarter.
Shares of Alcoa Corp (NYSE AA) traded up 1.395% during trading on Monday, reaching $47.595. 584,129 shares of the company traded hands. Alcoa Corp has a 52 week low of $20.00 and a 52 week high of $49.30. The stock has a market capitalization of $8.77 billion and a PE ratio of 54.147. The firm has a 50 day moving average of $46.01 and a 200 day moving average of $46.01.
Alcoa Corp 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.
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