Analysts Anticipate Alcoa Corp (AA) Will Announce Earnings of -$0.18 Per Share

Equities research analysts expect Alcoa Corp (NYSE:AA) to announce ($0.18) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Alcoa’s earnings, with estimates ranging from ($0.55) to $0.11. Alcoa posted earnings per share of $0.77 in the same quarter last year, which suggests a negative year-over-year growth rate of 123.4%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, April 17th.

According to Zacks, analysts expect that Alcoa will report full year earnings of $1.65 per share for the current financial year, with EPS estimates ranging from $0.77 to $3.10. For the next financial year, analysts forecast that the business will report earnings of $2.55 per share, with EPS estimates ranging from $1.86 to $4.37. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow Alcoa.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, January 16th. The industrial products company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.16. Alcoa had a return on equity of 9.21% and a net margin of 1.69%. The business had revenue of $3.34 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the prior year, the company posted $1.04 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year.

Several equities research analysts have recently weighed in on AA shares. Credit Suisse Group reduced their price objective on Alcoa from $58.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, December 7th. Zacks Investment Research lowered Alcoa from a “hold” rating to a “strong sell” rating in a research note on Monday, January 21st. ValuEngine lowered Alcoa from a “hold” rating to a “sell” rating in a report on Monday, February 4th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $57.00 target price on shares of Alcoa in a report on Friday, January 11th. Finally, BMO Capital Markets reduced their target price on Alcoa to $45.00 and set a “positive” rating for the company in a report on Thursday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $51.80.

NYSE AA traded up $0.17 on Friday, reaching $28.16. 3,381,982 shares of the stock traded hands, compared to its average volume of 3,849,124. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 1.42. The firm has a market cap of $5.19 billion, a P/E ratio of 7.87, a PEG ratio of 4.19 and a beta of 1.14. Alcoa has a 12 month low of $25.01 and a 12 month high of $62.35.

A number of hedge funds have recently added to or reduced their stakes in AA. Capital World Investors raised its stake in shares of Alcoa by 23.3% in the third quarter. Capital World Investors now owns 23,593,647 shares of the industrial products company’s stock valued at $953,183,000 after acquiring an additional 4,459,077 shares during the last quarter. BlackRock Inc. raised its position in shares of Alcoa by 3.7% during the fourth quarter. BlackRock Inc. now owns 9,525,897 shares of the industrial products company’s stock valued at $253,197,000 after buying an additional 340,639 shares during the last quarter. Norges Bank purchased a new position in shares of Alcoa in the fourth quarter valued at $210,497,000. Dimensional Fund Advisors LP boosted its stake in Alcoa by 9.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,704,529 shares of the industrial products company’s stock worth $125,053,000 after buying an additional 393,862 shares during the period. Finally, Schroder Investment Management Group boosted its stake in Alcoa by 20.0% during the third quarter. Schroder Investment Management Group now owns 2,503,490 shares of the industrial products company’s stock worth $101,141,000 after buying an additional 417,673 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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Earnings History and Estimates for Alcoa (NYSE:AA)

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