$3.51 Billion in Sales Expected for Alcoa Corp (AA) This Quarter

Equities research analysts expect Alcoa Corp (NYSE:AA) to announce sales of $3.51 billion for the current quarter, according to Zacks. Three analysts have provided estimates for Alcoa’s earnings. The highest sales estimate is $3.67 billion and the lowest is $3.37 billion. Alcoa posted sales of $3.17 billion in the same quarter last year, which suggests a positive year over year growth rate of 10.7%. The business is expected to issue its next quarterly earnings results on Wednesday, January 16th.

On average, analysts expect that Alcoa will report full year sales of $13.51 billion for the current financial year, with estimates ranging from $13.22 billion to $13.73 billion. For the next financial year, analysts anticipate that the firm will report sales of $13.76 billion, with estimates ranging from $13.28 billion to $14.49 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Alcoa.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, October 17th. The industrial products company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.27. Alcoa had a negative net margin of 0.09% and a positive return on equity of 10.38%. The company had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the business earned $0.72 earnings per share. Alcoa’s revenue was up 14.4% compared to the same quarter last year.

A number of research firms have recently commented on AA. ValuEngine lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. Deutsche Bank cut their price objective on shares of Alcoa from $70.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, July 24th. Morgan Stanley cut their price objective on shares of Alcoa from $60.00 to $57.00 and set a “buy” rating for the company in a research report on Monday, July 23rd. Credit Suisse Group cut their price objective on shares of Alcoa from $69.00 to $65.00 and set an “outperform” rating for the company in a research report on Thursday, July 19th. Finally, BMO Capital Markets cut their price objective on shares of Alcoa from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Thursday, July 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. Alcoa has an average rating of “Buy” and a consensus price target of $61.67.

Shares of AA stock traded down $2.37 during trading hours on Tuesday, reaching $34.01. The stock had a trading volume of 216,052 shares, compared to its average volume of 3,897,543. The company has a current ratio of 1.40, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. Alcoa has a 12 month low of $33.08 and a 12 month high of $62.35. The firm has a market capitalization of $6.75 billion, a P/E ratio of 11.37, a price-to-earnings-growth ratio of 1.09 and a beta of 0.75.

Alcoa announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 17th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its position in Alcoa by 5.1% during the second quarter. BlackRock Inc. now owns 9,057,264 shares of the industrial products company’s stock valued at $424,605,000 after purchasing an additional 437,832 shares during the last quarter. Alliancebernstein L.P. lifted its position in Alcoa by 3.7% during the third quarter. Alliancebernstein L.P. now owns 5,827,423 shares of the industrial products company’s stock valued at $235,428,000 after purchasing an additional 209,908 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Alcoa by 14.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,479,257 shares of the industrial products company’s stock worth $163,101,000 after acquiring an additional 437,117 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Alcoa by 14.7% during the second quarter. Renaissance Technologies LLC now owns 2,086,096 shares of the industrial products company’s stock worth $97,796,000 after acquiring an additional 267,900 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Alcoa by 12.1% during the second quarter. Northern Trust Corp now owns 1,600,561 shares of the industrial products company’s stock worth $75,034,000 after acquiring an additional 173,323 shares in the last quarter.

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.

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