Alcoa Co. (NYSE:AA) – Equities researchers at B. Riley boosted their Q3 2021 EPS estimates for shares of Alcoa in a note issued to investors on Tuesday, September 21st. B. Riley analyst L. Pipes now expects that the industrial products company will post earnings of $1.52 per share for the quarter, up from their previous forecast of $0.95. B. Riley has a “Neutral” rating and a $51.00 price target on the stock. B. Riley also issued estimates for Alcoa’s Q4 2021 earnings at $1.84 EPS, FY2021 earnings at $5.63 EPS, FY2022 earnings at $5.62 EPS and FY2023 earnings at $3.06 EPS.
Other analysts have also recently issued reports about the company. Jefferies Financial Group boosted their price target on Alcoa from $35.50 to $40.00 and gave the stock a “hold” rating in a report on Thursday, July 1st. Morgan Stanley upped their target price on Alcoa from $50.00 to $51.00 and gave the company an “overweight” rating in a report on Tuesday, July 20th. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft upped their target price on Alcoa from $48.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, September 16th. Finally, Citigroup upgraded Alcoa from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Friday, July 16th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $51.00.
Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, July 14th. The industrial products company reported $1.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.18. The company had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Alcoa had a return on equity of 5.16% and a net margin of 4.12%. The business’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) earnings per share.
Institutional investors have recently bought and sold shares of the business. MUFG Securities EMEA plc acquired a new position in shares of Alcoa during the second quarter worth approximately $16,578,000. Bank of New York Mellon Corp raised its position in shares of Alcoa by 1.9% during the first quarter. Bank of New York Mellon Corp now owns 845,972 shares of the industrial products company’s stock worth $27,486,000 after purchasing an additional 15,652 shares during the period. Brandywine Global Investment Management LLC raised its position in shares of Alcoa by 1.7% during the first quarter. Brandywine Global Investment Management LLC now owns 1,064,397 shares of the industrial products company’s stock worth $34,582,000 after purchasing an additional 18,142 shares during the period. Delta Investment Management LLC acquired a new position in shares of Alcoa during the second quarter worth approximately $2,485,000. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Alcoa by 83.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 57,181 shares of the industrial products company’s stock worth $1,858,000 after purchasing an additional 26,075 shares during the period.
Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.
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