$2.51 Billion in Sales Expected for Alcoa Corp (NYSE:AA) This Quarter

Analysts expect that Alcoa Corp (NYSE:AA) will announce $2.51 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Alcoa’s earnings, with estimates ranging from $2.47 billion to $2.55 billion. Alcoa posted sales of $3.34 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 24.9%. The business is scheduled to issue its next quarterly earnings results on Wednesday, January 15th.

According to Zacks, analysts expect that Alcoa will report full year sales of $10.50 billion for the current fiscal year, with estimates ranging from $10.45 billion to $10.55 billion. For the next financial year, analysts forecast that the company will post sales of $10.51 billion, with estimates ranging from $10.30 billion to $10.96 billion. Zacks Investment Research’s sales 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, October 16th. The industrial products company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.09). Alcoa had a negative net margin of 6.87% and a negative return on equity of 0.03%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company’s revenue for the quarter was down 24.3% on a year-over-year basis.

AA has been the topic of several research reports. G.Research cut Alcoa from a “buy” rating to a “hold” rating in a research report on Monday, October 21st. B. Riley increased their target price on Alcoa from $26.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Gabelli cut Alcoa from a “buy” rating to a “hold” rating in a research note on Monday, October 21st. ValuEngine upgraded Alcoa from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, Credit Suisse Group upgraded Alcoa from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $26.00 to $27.00 in a research report on Wednesday, September 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Alcoa presently has an average rating of “Buy” and a consensus price target of $28.09.

Shares of AA opened at $19.87 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.48 and a quick ratio of 0.81. Alcoa has a one year low of $16.46 and a one year high of $33.47. The company has a 50-day simple moving average of $21.03 and a two-hundred day simple moving average of $21.16. The firm has a market capitalization of $3.78 billion, a PE ratio of 5.55 and a beta of 1.45.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC bought a new stake in Alcoa in the 2nd quarter valued at about $25,000. TRUE Private Wealth Advisors acquired a new position in Alcoa during the second quarter worth about $30,000. Lindbrook Capital LLC boosted its position in Alcoa by 323.7% during the third quarter. Lindbrook Capital LLC now owns 1,339 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 1,023 shares during the last quarter. Regal Wealth Group Inc. acquired a new position in Alcoa during the third quarter worth about $30,000. Finally, Cerebellum GP LLC purchased a new stake in Alcoa during the 3rd quarter valued at about $127,000.

About Alcoa

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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