Analysts forecast that Alcoa Corp (NYSE:AA) will announce $0.71 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Alcoa’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.85. Alcoa posted earnings per share of $0.72 in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.4%. The firm is expected to announce its next earnings results on Wednesday, October 17th.
According to Zacks, analysts expect that Alcoa will report full year earnings of $4.04 per share for the current fiscal year, with EPS estimates ranging from $3.37 to $4.55. For the next fiscal year, analysts anticipate that the business will report earnings of $4.00 per share, with EPS estimates ranging from $2.65 to $5.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Alcoa.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 18th. The industrial products company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.19. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.49 billion. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the company earned $0.62 EPS.
AA has been the topic of a number of recent research reports. ValuEngine lowered Alcoa from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 16th. Deutsche Bank set a $70.00 price objective on Alcoa and gave the company a “buy” rating in a research report on Wednesday, May 30th. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective on the stock in a research report on Tuesday, June 19th. B. Riley initiated coverage on Alcoa in a research report on Thursday, June 21st. They issued a “neutral” rating and a $47.00 price objective on the stock. Finally, BMO Capital Markets decreased their price objective on Alcoa from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $61.06.
Shares of AA opened at $40.36 on Friday. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 0.98 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 52 week low of $40.03 and a 52 week high of $62.35.
Several hedge funds have recently bought and sold shares of AA. SG Americas Securities LLC lifted its stake in shares of Alcoa by 554.4% in the 1st quarter. SG Americas Securities LLC now owns 52,757 shares of the industrial products company’s stock valued at $2,372,000 after purchasing an additional 44,695 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Alcoa by 7.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,976 shares of the industrial products company’s stock valued at $628,000 after purchasing an additional 969 shares during the period. Boston Partners lifted its stake in shares of Alcoa by 13.1% in the 1st quarter. Boston Partners now owns 103,366 shares of the industrial products company’s stock valued at $4,647,000 after purchasing an additional 11,948 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Alcoa by 3.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 237,491 shares of the industrial products company’s stock valued at $10,678,000 after purchasing an additional 7,081 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Alcoa by 2.3% in the 1st quarter. Swiss National Bank now owns 321,094 shares of the industrial products company’s stock valued at $14,436,000 after purchasing an additional 7,100 shares during the period.
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.
Featured Story: Penny Stocks, Risk and Reward Factors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.