Alcoa Corp. (AA) Expected to Post Quarterly Sales of $3.37 Billion
Analysts expect Alcoa Corp. (NYSE:AA) to post $3.37 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Alcoa Corp.’s earnings. The highest sales estimate is $3.44 billion and the lowest is $3.29 billion. Alcoa Corp. posted sales of $2.54 billion during the same quarter last year, which suggests a positive year over year growth rate of 32.7%. The company is expected to issue its next quarterly earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that Alcoa Corp. will report full-year sales of $3.37 billion for the current year, with estimates ranging from $11.50 billion to $11.92 billion. For the next fiscal year, analysts expect that the firm will report sales of $12.32 billion per share, with estimates ranging from $12.10 billion to $12.49 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Alcoa Corp..
Alcoa Corp. (NYSE:AA) last released its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.05). Alcoa Corp. had a return on equity of 4.90% and a net margin of 2.61%. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue was up 27.3% compared to the same quarter last year.
A number of research firms have issued reports on AA. BMO Capital Markets lifted their price objective on Alcoa Corp. from $45.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 13th. Macquarie reissued a “buy” rating and set a $62.00 target price (up previously from $55.00) on shares of Alcoa Corp. in a research report on Tuesday, October 10th. Morgan Stanley reissued an “overweight” rating and set a $47.00 target price on shares of Alcoa Corp. in a research report on Wednesday, September 20th. Deutsche Bank AG reissued a “hold” rating and set a $44.00 target price on shares of Alcoa Corp. in a research report on Wednesday, August 9th. Finally, J P Morgan Chase & Co reissued a “buy” rating and set a $60.00 target price on shares of Alcoa Corp. in a research report on Thursday, October 19th. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. Alcoa Corp. currently has an average rating of “Buy” and a consensus target price of $49.88.
Alcoa Corp. (AA) traded up $0.14 during trading hours on Wednesday, reaching $42.01. The company’s stock had a trading volume of 2,635,544 shares, compared to its average volume of 4,133,748. The company has a current ratio of 1.38, a quick ratio of 0.90 and a debt-to-equity ratio of 0.17. Alcoa Corp. has a 1-year low of $28.01 and a 1-year high of $50.31. The company has a market cap of $7,730.00 and a P/E ratio of 20.44.
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Hedge funds have recently modified their holdings of the business. Huntington National Bank purchased a new stake in shares of Alcoa Corp. in the 3rd quarter worth $112,000. Pacer Advisors Inc. lifted its holdings in shares of Alcoa Corp. by 8.4% in the 2nd quarter. Pacer Advisors Inc. now owns 4,488 shares of the industrial products company’s stock worth $147,000 after buying an additional 348 shares during the period. Global X Management Co. LLC lifted its holdings in shares of Alcoa Corp. by 220.6% in 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 period. Van ECK Associates Corp lifted its holdings in shares of Alcoa Corp. by 3.8% in the 2nd quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after buying an additional 213 shares during the period. Finally, Lincoln National Corp lifted its holdings in shares of Alcoa Corp. by 3.9% in the 2nd quarter. Lincoln National Corp now owns 6,154 shares of the industrial products company’s stock worth $201,000 after buying an additional 233 shares during the period.
About Alcoa Corp.
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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