Analysts Anticipate Alcoa Corp (AA) Will Post Earnings of $0.44 Per Share

Analysts predict that Alcoa Corp (NYSE:AA) will announce earnings per share (EPS) of $0.44 for the current quarter, Zacks reports. Three analysts have made estimates for Alcoa’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.82. Alcoa reported earnings of $1.04 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 57.7%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, January 16th.

According to Zacks, analysts expect that Alcoa will report full-year earnings of $3.47 per share for the current fiscal year, with EPS estimates ranging from $3.15 to $3.85. For the next year, analysts forecast that the company will post earnings of $3.07 per share, with EPS estimates ranging from $2.05 to $3.96. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Alcoa.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.27. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.35 billion. Alcoa had a positive return on equity of 10.38% and a negative net margin of 0.09%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS.

AA has been the subject of a number of research analyst reports. Berenberg Bank initiated coverage on Alcoa in a research report on Friday, September 21st. They issued a “buy” rating and a $54.00 target price for the company. Credit Suisse Group decreased their target price on Alcoa from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, September 25th. Zacks Investment Research raised Alcoa from a “hold” rating to a “strong-buy” rating and set a $48.00 target price for the company in a research report on Tuesday, September 25th. JPMorgan Chase & Co. upped their target price on Alcoa to $79.00 and gave the company an “overweight” rating in a research report on Thursday, October 18th. Finally, Citigroup decreased their target price on Alcoa from $53.00 to $33.00 and set a “neutral” rating for the company in a research report on Friday, November 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.00.

Shares of NYSE AA traded down $0.43 during trading hours on Friday, reaching $28.55. The stock had a trading volume of 3,838,416 shares, compared to its average volume of 3,115,240. The stock has a market cap of $5.43 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.09. The company has a quick ratio of 0.84, a current ratio of 1.40 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.

Alcoa announced that its board has approved a stock buyback plan on Wednesday, October 17th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cerebellum GP LLC raised its stake in Alcoa by 8.1% during the 4th quarter. Cerebellum GP LLC now owns 4,798 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 361 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Alcoa by 2.0% during the 4th quarter. State of Alaska Department of Revenue now owns 19,844 shares of the industrial products company’s stock valued at $527,000 after acquiring an additional 380 shares during the last quarter. United Services Automobile Association raised its stake in Alcoa by 5.2% during the 2nd quarter. United Services Automobile Association now owns 28,591 shares of the industrial products company’s stock valued at $1,340,000 after acquiring an additional 1,402 shares during the last quarter. Banco de Sabadell S.A raised its stake in Alcoa by 24.1% during the 2nd quarter. Banco de Sabadell S.A now owns 8,999 shares of the industrial products company’s stock valued at $420,000 after acquiring an additional 1,749 shares during the last quarter. Finally, BP PLC raised its stake in Alcoa by 9.1% during the 3rd quarter. BP PLC now owns 24,000 shares of the industrial products company’s stock valued at $969,000 after acquiring an additional 2,000 shares during the last quarter.

About Alcoa

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.

See Also: Net Asset Value

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