Equities research analysts expect that Alcoa Co. (NYSE:AA) will post sales of $2.61 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Alcoa’s earnings. The lowest sales estimate is $2.59 billion and the highest is $2.63 billion. Alcoa posted sales of $2.15 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.4%. The business is expected to announce its next earnings report after the market closes on Thursday, July 15th.
According to Zacks, analysts expect that Alcoa will report full year sales of $10.70 billion for the current financial year, with estimates ranging from $10.43 billion to $10.93 billion. For the next financial year, analysts forecast that the company will post sales of $10.59 billion, with estimates ranging from $10.03 billion to $11.24 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Alcoa.
Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 14th. The industrial products company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.46 by $0.33. Alcoa had a negative return on equity of 0.45% and a negative net margin of 0.77%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.65 billion. During the same period last year, the business posted ($0.23) EPS. The company’s revenue was up 20.5% on a year-over-year basis.
A number of research analysts have recently weighed in on AA shares. B. Riley lifted their price target on Alcoa from $36.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, April 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Alcoa from $41.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, May 26th. Jefferies Financial Group upped their price objective on Alcoa from $35.50 to $40.00 and gave the company a “hold” rating in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Alcoa from $39.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, May 10th. Finally, Morgan Stanley upped their price objective on Alcoa from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, June 23rd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Alcoa has an average rating of “Buy” and a consensus target price of $37.00.
Shares of NYSE AA opened at $36.96 on Friday. The business has a 50 day moving average of $37.53. The company has a current ratio of 1.52, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. The company has a market cap of $6.90 billion, a P/E ratio of -90.15 and a beta of 2.65. Alcoa has a 12-month low of $10.43 and a 12-month high of $44.42.
In other Alcoa news, EVP Jeffrey D. Heeter sold 12,260 shares of the stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $35.35, for a total value of $433,391.00. Following the sale, the executive vice president now directly owns 93,948 shares in the company, valued at approximately $3,321,061.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin D. Kahrs sold 28,082 shares of the stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $39.68, for a total transaction of $1,114,293.76. Following the completion of the sale, the executive vice president now owns 56,712 shares in the company, valued at $2,250,332.16. The disclosure for this sale can be found here. Insiders sold a total of 298,639 shares of company stock valued at $10,127,456 over the last ninety days.
A number of institutional investors have recently made changes to their positions in AA. BlackRock Inc. lifted its position in Alcoa by 8.8% during the 1st quarter. BlackRock Inc. now owns 15,156,229 shares of the industrial products company’s stock valued at $492,426,000 after acquiring an additional 1,230,807 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Alcoa by 23.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,218,177 shares of the industrial products company’s stock valued at $212,479,000 after purchasing an additional 1,753,910 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Alcoa by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,422,515 shares of the industrial products company’s stock valued at $273,652,000 after purchasing an additional 435,352 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Alcoa by 3.8% during the first quarter. Fisher Asset Management LLC now owns 6,923,921 shares of the industrial products company’s stock valued at $224,958,000 after purchasing an additional 250,768 shares during the last quarter. Finally, Northern Trust Corp grew its position in Alcoa by 33.8% during the fourth quarter. Northern Trust Corp now owns 3,153,609 shares of the industrial products company’s stock valued at $72,692,000 after buying an additional 795,849 shares during the period.
Alcoa Company Profile
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting, casting, and rolling businesses.
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