$2.51 Billion in Sales Expected for Alcoa Corp (NYSE:AA) This Quarter

Equities analysts predict that Alcoa Corp (NYSE:AA) will announce $2.51 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Alcoa’s earnings. The highest sales estimate is $2.55 billion and the lowest is $2.47 billion. Alcoa reported sales of $3.34 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 24.9%. The company is expected to report its next earnings results on Wednesday, January 15th.

On average, analysts expect that Alcoa will report full-year sales of $10.50 billion for the current financial year, with estimates ranging from $10.45 billion to $10.55 billion. For the next financial year, analysts anticipate that the company will report sales of $10.51 billion, with estimates ranging from $10.30 billion to $10.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Alcoa.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 16th. The industrial products company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.09). The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Alcoa had a negative net margin of 6.87% and a negative return on equity of 0.03%. Alcoa’s revenue for the quarter was down 24.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS.

AA has been the topic of a number of research analyst reports. G.Research downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Zacks Investment Research lowered shares of Alcoa from a “hold” rating to a “strong sell” rating in a research report on Tuesday. ValuEngine raised shares of Alcoa from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $26.00 to $27.00 in a research report on Wednesday, September 11th. Finally, B. Riley boosted their price target on Alcoa from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $28.09.

Shares of AA traded up $0.11 during mid-day trading on Friday, hitting $19.87. The company’s stock had a trading volume of 4,065,898 shares, compared to its average volume of 3,697,778. The company has a current ratio of 1.48, a quick ratio of 0.81 and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $21.05 and a 200 day simple moving average of $21.11. The firm has a market capitalization of $3.67 billion, a P/E ratio of 5.55 and a beta of 1.45. Alcoa has a 1-year low of $16.46 and a 1-year high of $31.45.

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Alcoa by 22.9% during the second quarter. Renaissance Technologies LLC now owns 2,948,496 shares of the industrial products company’s stock worth $69,024,000 after acquiring an additional 549,600 shares during the last quarter. Maverick Capital Ltd. grew its holdings in shares of Alcoa by 31.2% during the 2nd quarter. Maverick Capital Ltd. now owns 187,200 shares of the industrial products company’s stock worth $4,382,000 after purchasing an additional 44,490 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Alcoa during the 2nd quarter worth approximately $25,000. Banco Santander S.A. acquired a new stake in Alcoa during the 2nd quarter worth approximately $263,000. Finally, Squarepoint Ops LLC raised its holdings in Alcoa by 18.0% in the third quarter. Squarepoint Ops LLC now owns 352,636 shares of the industrial products company’s stock valued at $7,077,000 after buying an additional 53,752 shares during the period.

About Alcoa

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; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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