Analysts Anticipate Alcoa Corp (AA) Will Post Earnings of $0.74 Per Share

Brokerages expect that Alcoa Corp (NYSE:AA) will post earnings of $0.74 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Alcoa’s earnings. The highest EPS estimate is $0.94 and the lowest is $0.43. Alcoa posted earnings per share of $0.72 during the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 17th.

According to Zacks, analysts expect that Alcoa will report full year earnings of $4.22 per share for the current fiscal year, with EPS estimates ranging from $3.37 to $4.89. For the next year, analysts forecast that the company will post earnings of $4.19 per share, with EPS estimates ranging from $3.15 to $5.27. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Alcoa.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.19. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.49 billion. Alcoa had a net margin of 1.11% and a return on equity of 10.30%. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share.

AA has been the subject of several research analyst reports. Zacks Investment Research cut shares of Alcoa from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 25th. ValuEngine cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Saturday, June 16th. Deutsche Bank cut their target price on shares of Alcoa from $70.00 to $55.00 and set a “buy” rating for the company in a research note on Tuesday, July 24th. B. Riley initiated coverage on shares of Alcoa in a research note on Thursday, June 21st. They set a “neutral” rating and a $47.00 target price for the company. Finally, Credit Suisse Group cut their target price on shares of Alcoa from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Alcoa presently has an average rating of “Buy” and an average target price of $61.12.

Large investors have recently modified their holdings of the business. Madison Investment Holdings Inc. grew its holdings in Alcoa by 48.0% during the 2nd quarter. Madison Investment Holdings Inc. now owns 226,200 shares of the industrial products company’s stock worth $10,604,000 after acquiring an additional 73,400 shares during the last quarter. Trellus Management Company LLC bought a new stake in Alcoa during the 2nd quarter worth about $938,000. CIBC World Markets Inc. grew its holdings in Alcoa by 258.6% during the 2nd quarter. CIBC World Markets Inc. now owns 33,257 shares of the industrial products company’s stock worth $1,559,000 after acquiring an additional 23,983 shares during the last quarter. Swiss National Bank grew its holdings in Alcoa by 0.9% during the 2nd quarter. Swiss National Bank now owns 324,094 shares of the industrial products company’s stock worth $15,194,000 after acquiring an additional 3,000 shares during the last quarter. Finally, ARP Americas LP bought a new stake in Alcoa during the 2nd quarter worth about $558,000.

NYSE AA opened at $40.15 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.42 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.69 billion, a P/E ratio of 13.39, a PEG ratio of 2.15 and a beta of -0.23. Alcoa has a 1 year low of $39.58 and a 1 year high of $62.35.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

See Also: How is an ETF different from a mutual fund?

Get a free copy of the Zacks research report on Alcoa (AA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply