Wall Street brokerages forecast that Alcoa Corp (NYSE:AA) will announce earnings per share of ($0.13) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Alcoa’s earnings. The highest EPS estimate is $0.19 and the lowest is ($0.68). Alcoa reported earnings per share of $0.77 during the same quarter last year, which indicates a negative year over year growth rate of 116.9%. The company is scheduled to report its next earnings report on Wednesday, April 17th.
On average, analysts expect that Alcoa will report full-year earnings of $1.89 per share for the current year, with EPS estimates ranging from $1.33 to $3.10. For the next financial year, analysts expect that the firm will report earnings of $2.80 per share, with EPS estimates ranging from $1.96 to $4.32. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Alcoa.
Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.16. Alcoa had a net margin of 1.69% and a return on equity of 9.24%. The business had revenue of $3.34 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the business posted $1.04 EPS. Alcoa’s revenue for the quarter was up 5.4% compared to the same quarter last year.
Several research firms have issued reports on AA. JPMorgan Chase & Co. increased their price objective on shares of Alcoa to $79.00 and gave the company an “overweight” rating in a report on Thursday, October 18th. Citigroup decreased their price objective on shares of Alcoa from $53.00 to $33.00 and set a “neutral” rating on the stock in a report on Friday, November 16th. ValuEngine downgraded shares of Alcoa from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 27th. Credit Suisse Group decreased their price objective on shares of Alcoa from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, December 7th. Finally, Zacks Investment Research downgraded shares of Alcoa from a “hold” rating to a “strong sell” rating in a report on Monday, January 21st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the stock. Alcoa presently has a consensus rating of “Buy” and an average target price of $53.27.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Capital World Investors lifted its position in shares of Alcoa by 23.3% during the 3rd quarter. Capital World Investors now owns 23,593,647 shares of the industrial products company’s stock worth $953,183,000 after buying an additional 4,459,077 shares during the last quarter. FMR LLC boosted its stake in shares of Alcoa by 191.0% during the 3rd quarter. FMR LLC now owns 2,137,654 shares of the industrial products company’s stock valued at $86,360,000 after buying an additional 1,403,132 shares during the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Alcoa during the 4th quarter valued at approximately $24,002,000. Dimensional Fund Advisors LP lifted its stake in Alcoa by 23.9% during the third quarter. Dimensional Fund Advisors LP now owns 4,310,667 shares of the industrial products company’s stock worth $174,152,000 after purchasing an additional 831,410 shares during the last quarter. Finally, Prudential Financial Inc. lifted its stake in Alcoa by 282.5% during the fourth quarter. Prudential Financial Inc. now owns 1,076,685 shares of the industrial products company’s stock worth $28,619,000 after purchasing an additional 795,194 shares during the last quarter.
Alcoa stock traded down $0.31 during mid-day trading on Tuesday, reaching $26.98. 17,969 shares of the company traded hands, compared to its average volume of 4,704,413. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. Alcoa has a fifty-two week low of $25.01 and a fifty-two week high of $62.35. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 3.76 and a beta of 1.17.
Alcoa announced that its Board of Directors has approved a share buyback plan on Wednesday, October 17th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Alcoa Company Profile
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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