Alcoa Corp (NYSE:AA) Expected to Post Earnings of -$0.08 Per Share

Analysts predict that Alcoa Corp (NYSE:AA) will announce ($0.08) earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Alcoa’s earnings. The highest EPS estimate is $0.03 and the lowest is ($0.21). Alcoa reported earnings per share of $0.63 during the same quarter last year, which indicates a negative year-over-year growth rate of 112.7%. The company is scheduled to report its next earnings report on Wednesday, October 16th.

According to Zacks, analysts expect that Alcoa will report full-year earnings of ($0.23) per share for the current financial year, with EPS estimates ranging from ($0.50) to $0.15. For the next fiscal year, analysts forecast that the firm will report earnings of $1.06 per share, with EPS estimates ranging from $0.49 to $1.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Alcoa.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.34) by $0.33. Alcoa had a positive return on equity of 2.78% and a negative net margin of 4.92%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.77 billion. During the same period in the prior year, the business earned $1.52 earnings per share. Alcoa’s revenue for the quarter was down 24.3% compared to the same quarter last year.

AA has been the subject of several research reports. Jefferies Financial Group cut Alcoa from a “buy” rating to a “hold” rating and reduced their target price for the stock from $29.00 to $23.00 in a research report on Thursday, July 18th. Zacks Investment Research cut Alcoa from a “hold” rating to a “sell” rating in a research report on Monday, July 15th. ValuEngine raised Alcoa from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. reduced their target price on Alcoa from $60.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, April 18th. Finally, BMO Capital Markets set a $35.00 target price on Alcoa and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $35.69.

Shares of AA traded down $0.25 during mid-day trading on Tuesday, hitting $19.90. The company’s stock had a trading volume of 174,561 shares, compared to its average volume of 3,723,581. Alcoa has a one year low of $19.54 and a one year high of $45.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.51 and a quick ratio of 0.81. The firm has a market capitalization of $3.72 billion, a price-to-earnings ratio of 5.56 and a beta of 1.34. The business has a 50-day moving average of $22.66.

Institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC acquired a new stake in shares of Alcoa in the second quarter valued at $25,000. Parallel Advisors LLC increased its position in Alcoa by 143.3% in the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 589 shares during the period. TRUE Private Wealth Advisors acquired a new stake in Alcoa in the second quarter worth about $30,000. Farmers National Bank acquired a new stake in Alcoa in the first quarter worth about $32,000. Finally, Penserra Capital Management LLC acquired a new stake in Alcoa in the first quarter worth about $107,000.

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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