Zacks: Brokerages Anticipate Alcoa Corp (AA) to Announce $1.23 Earnings Per Share

Brokerages expect that Alcoa Corp (NYSE:AA) will post earnings of $1.23 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Alcoa’s earnings, with the lowest EPS estimate coming in at $0.98 and the highest estimate coming in at $1.49. Alcoa posted earnings of $0.14 per share during the same quarter last year, which would indicate a positive year over year growth rate of 778.6%. The firm is expected to issue its next earnings report after the market closes on Wednesday, January 17th.

On average, analysts expect that Alcoa will report full year earnings of $3.19 per share for the current fiscal year, with EPS estimates ranging from $2.95 to $3.46. For the next year, analysts anticipate that the firm will post earnings of $3.89 per share, with EPS estimates ranging from $2.70 to $5.00. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Alcoa.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.05). Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business earned $0.32 EPS. The firm’s quarterly revenue was up 27.3% compared to the same quarter last year.

Several research firms recently issued reports on AA. BMO Capital Markets reiterated a “buy” rating and set a $65.00 target price on shares of Alcoa in a research report on Friday. Morgan Stanley set a $55.00 target price on Alcoa and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Citigroup reiterated a “buy” rating and set a $53.00 target price on shares of Alcoa in a research report on Friday, September 29th. Cowen set a $51.00 target price on Alcoa and gave the stock a “hold” rating in a research report on Wednesday, October 11th. Finally, Macquarie restated a “buy” rating and set a $62.00 price target (up previously from $55.00) on shares of Alcoa in a report on Tuesday, October 10th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $53.07.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Alcoa by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock worth $484,895,000 after acquiring an additional 1,885,745 shares in the last quarter. Elliott Management Corp grew its stake in Alcoa by 14.7% during the 2nd quarter. Elliott Management Corp now owns 11,737,457 shares of the industrial products company’s stock worth $383,228,000 after buying an additional 1,500,000 shares during the last quarter. Balyasny Asset Management LLC grew its stake in Alcoa by 22.8% during the 2nd quarter. Balyasny Asset Management LLC now owns 7,848,750 shares of the industrial products company’s stock worth $256,262,000 after buying an additional 1,458,488 shares during the last quarter. BlackRock Inc. grew its stake in Alcoa by 14.1% during the 2nd quarter. BlackRock Inc. now owns 7,779,093 shares of the industrial products company’s stock worth $253,986,000 after buying an additional 958,494 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. grew its stake in Alcoa by 163.5% during the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock worth $148,198,000 after buying an additional 2,816,320 shares during the last quarter.

Shares of Alcoa (AA) opened at $49.99 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.38. Alcoa has a 1 year low of $28.01 and a 1 year high of $50.31. The stock has a market capitalization of $9,064.27 and a PE ratio of 32.67.

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About Alcoa

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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Earnings History and Estimates for Alcoa (NYSE:AA)

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