Alcoa Corp (NYSE:AA) Expected to Post Earnings of -$0.17 Per Share

Wall Street brokerages predict that Alcoa Corp (NYSE:AA) will announce ($0.17) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Alcoa’s earnings. The highest EPS estimate is $0.06 and the lowest is ($0.27). Alcoa reported earnings of $0.66 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 125.8%. The firm is expected to announce its next quarterly earnings report on Wednesday, January 15th.

According to Zacks, analysts expect that Alcoa will report full year earnings of ($0.81) per share for the current financial year, with EPS estimates ranging from ($0.96) to ($0.55). For the next year, analysts anticipate that the firm will post earnings of $0.84 per share, with EPS estimates ranging from $0.05 to $1.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that that provide coverage for Alcoa.

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

A number of research firms have recently commented on AA. B. Riley reduced their price objective on shares of Alcoa from $27.00 to $26.00 and set a “buy” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on shares of Alcoa from $44.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, October 10th. Bank of America reaffirmed a “neutral” rating and set a $20.00 price objective (down from $25.00) on shares of Alcoa in a report on Friday, August 16th. Jefferies Financial Group downgraded shares of Alcoa from a “buy” rating to a “hold” rating and cut their price target for the company from $29.00 to $23.00 in a report on Thursday, July 18th. Finally, G.Research downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a report on Monday, October 21st. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $27.50.

Shares of NYSE:AA traded down $0.03 during midday trading on Tuesday, reaching $22.53. 3,538,131 shares of the company’s stock were exchanged, compared to its average volume of 3,747,501. The company’s 50 day simple moving average is $20.68 and its two-hundred day simple moving average is $21.78. The firm has a market capitalization of $4.19 billion, a PE ratio of 6.29 and a beta of 1.47. Alcoa has a 12 month low of $16.46 and a 12 month high of $36.72. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.81 and a current ratio of 1.48.

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its holdings in Alcoa by 22.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,948,496 shares of the industrial products company’s stock valued at $69,024,000 after purchasing an additional 549,600 shares during the last quarter. Maverick Capital Ltd. increased its position in Alcoa by 31.2% in the 2nd quarter. Maverick Capital Ltd. now owns 187,200 shares of the industrial products company’s stock valued at $4,382,000 after acquiring an additional 44,490 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in Alcoa in the 2nd quarter valued at about $25,000. Banco Santander S.A. acquired a new stake in Alcoa in the 2nd quarter valued at about $263,000. Finally, First Trust Advisors LP increased its position in Alcoa by 44.8% in the 2nd quarter. First Trust Advisors LP now owns 203,710 shares of the industrial products company’s stock valued at $4,769,000 after acquiring an additional 63,040 shares in 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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