Zacks: Analysts Expect Alcoa Corp (AA) Will Announce Quarterly Sales of $2.79 Billion

Wall Street brokerages expect Alcoa Corp (NYSE:AA) to post $2.79 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Alcoa’s earnings, with the highest sales estimate coming in at $2.86 billion and the lowest estimate coming in at $2.74 billion. Alcoa reported sales of $3.58 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 22.1%. The firm is expected to issue its next quarterly earnings report on Wednesday, July 17th.

On average, analysts expect that Alcoa will report full-year sales of $11.59 billion for the current fiscal year, with estimates ranging from $10.98 billion to $12.19 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $11.75 billion, with estimates ranging from $11.20 billion to $12.56 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Alcoa.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, April 17th. The industrial products company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.06). Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.71%. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the business earned $0.77 EPS. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis.

AA has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Alcoa from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 25th. ValuEngine upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $57.00 price objective on shares of Alcoa in a research note on Friday, January 11th. Goldman Sachs Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Monday, January 14th. Finally, Berenberg Bank set a $42.00 price objective on shares of Alcoa and gave the company a “buy” rating in a research note on Monday, January 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $40.08.

Shares of NYSE AA traded down $1.06 during midday trading on Tuesday, hitting $26.66. The company had a trading volume of 9,476,158 shares, compared to its average volume of 3,664,348. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 0.24. Alcoa has a twelve month low of $25.01 and a twelve month high of $62.35. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 4.34 and a beta of 1.13.

A number of institutional investors and hedge funds have recently made changes to their positions in AA. Norges Bank acquired a new position in Alcoa during the fourth quarter worth about $210,497,000. State of New Jersey Common Pension Fund D acquired a new position in Alcoa during the fourth quarter worth about $24,002,000. Prudential Financial Inc. raised its position in Alcoa by 282.5% during the fourth quarter. Prudential Financial Inc. now owns 1,076,685 shares of the industrial products company’s stock worth $28,619,000 after acquiring an additional 795,194 shares during the last quarter. Dimensional Fund Advisors LP raised its position 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 acquiring an additional 393,862 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Alcoa by 3.7% in 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.

Alcoa Company Profile

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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