Zacks: Analysts Expect Alcoa Corp (AA) Will Post Earnings of $0.22 Per Share

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Equities analysts predict that Alcoa Corp (NYSE:AA) will report $0.22 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Alcoa’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at ($0.02). Alcoa posted earnings per share of $1.52 during the same quarter last year, which would suggest a negative year-over-year growth rate of 85.5%. The company is expected to announce its next quarterly earnings report on Wednesday, July 17th.

According to Zacks, analysts expect that Alcoa will report full-year earnings of $1.15 per share for the current year, with EPS estimates ranging from $0.31 to $2.61. For the next year, analysts anticipate that the firm will report earnings of $2.11 per share, with EPS estimates ranging from $0.93 to $3.34. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Alcoa.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.06). Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.71%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The company’s quarterly revenue was down 12.0% on a year-over-year basis.

AA has been the topic of several research analyst reports. Berenberg Bank set a $42.00 price target on Alcoa and gave the company a “buy” rating in a research note on Monday, January 14th. Goldman Sachs Group upgraded Alcoa from a “neutral” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Monday, January 14th. Jefferies Financial Group set a $36.00 price target on Alcoa and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Gabelli upgraded Alcoa from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Finally, TheStreet downgraded Alcoa from a “c-” rating to a “d+” rating in a research note on Thursday, March 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. Alcoa presently has a consensus rating of “Buy” and a consensus price target of $40.00.

Alcoa stock opened at $24.69 on Monday. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.24. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 6.90, a PEG ratio of 5.78 and a beta of 1.04. Alcoa has a fifty-two week low of $24.67 and a fifty-two week high of $54.51.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cerebellum GP LLC increased its holdings in shares of Alcoa by 8.1% in the fourth quarter. Cerebellum GP LLC now owns 4,798 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 361 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Alcoa by 2.0% during the fourth quarter. State of Alaska Department of Revenue now owns 19,844 shares of the industrial products company’s stock worth $527,000 after acquiring an additional 380 shares during the last quarter. Parallel Advisors LLC increased its stake in Alcoa by 143.3% during the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 589 shares during the last quarter. US Bancorp DE increased its stake in Alcoa by 7.9% during the first quarter. US Bancorp DE now owns 8,048 shares of the industrial products company’s stock worth $226,000 after acquiring an additional 592 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Alcoa by 10.0% during the first quarter. CIBC Asset Management Inc now owns 9,005 shares of the industrial products company’s stock worth $254,000 after acquiring an additional 821 shares during the last quarter.

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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