Alcoa Corp (NYSE:AA) Expected to Earn FY2019 Earnings of ($0.87) Per Share

Alcoa Corp (NYSE:AA) – B. Riley issued their FY2019 earnings per share (EPS) estimates for Alcoa in a note issued to investors on Thursday, October 17th. B. Riley analyst L. Pipes expects that the industrial products company will post earnings of ($0.87) per share for the year. B. Riley has a “Buy” rating and a $26.00 price objective on the stock. B. Riley also issued estimates for Alcoa’s Q4 2019 earnings at ($0.18) EPS, FY2020 earnings at $1.28 EPS and FY2021 earnings at $1.27 EPS.

A number of other research analysts have also recently weighed in on AA. Jefferies Financial Group cut shares of Alcoa from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $29.00 to $23.00 in a research note on Thursday, July 18th. ValuEngine raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. G.Research cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank cut shares of Alcoa from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $35.00 to $23.00 in a research note on Thursday, July 11th. Finally, Argus reissued a “hold” rating on shares of Alcoa in a research note on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $28.25.

Shares of AA opened at $20.73 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.48 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $20.33 and a 200-day simple moving average of $22.35. Alcoa has a 1-year low of $16.46 and a 1-year high of $38.97. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 5.79 and a beta of 1.47.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, October 16th. The industrial products company reported ($0.44) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.35) by ($0.09). Alcoa had a negative return on equity of 0.03% and a negative net margin of 6.87%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.58 billion. During the same period last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 24.3% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. World Asset Management Inc boosted its position in Alcoa by 12.3% during the third quarter. World Asset Management Inc now owns 12,545 shares of the industrial products company’s stock worth $252,000 after acquiring an additional 1,374 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Alcoa by 6.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,528 shares of the industrial products company’s stock worth $292,000 after acquiring an additional 915 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in Alcoa during the third quarter worth approximately $11,867,000. Nisa Investment Advisors LLC boosted its position in Alcoa by 697.3% during the third quarter. Nisa Investment Advisors LLC now owns 102,017 shares of the industrial products company’s stock worth $2,047,000 after acquiring an additional 89,221 shares during the last quarter. Finally, Alpine Group USVI LLC acquired a new stake in Alcoa during the third quarter worth approximately $2,107,000.

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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