Brokerages expect Alcoa Co. (NYSE:AA) to announce $2.80 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Alcoa's earnings. The lowest sales estimate is $2.70 billion and the highest is $2.98 billion. Alcoa reported sales of $2.37 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 18.1%. The business is scheduled to issue its next earnings results on Wednesday, October 13th.
On average, analysts expect that Alcoa will report full year sales of $11.34 billion for the current fiscal year, with estimates ranging from $11.03 billion to $11.74 billion. For the next fiscal year, analysts expect that the company will report sales of $10.93 billion, with estimates ranging from $9.99 billion to $12.61 billion. Zacks' sales averages are a mean average based on a survey of research firms that that provide coverage for Alcoa.
Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, July 14th. The industrial products company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.31 by $0.18. Alcoa had a return on equity of 5.27% and a net margin of 4.12%. The company had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the company posted ($0.02) EPS. The business's revenue for the quarter was up 31.9% compared to the same quarter last year.
Several research analysts recently weighed in on AA shares. B. Riley increased their target price on Alcoa from $36.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, April 30th. Jefferies Financial Group increased their price target on Alcoa from $35.50 to $40.00 and gave the company a "hold" rating in a report on Thursday, July 1st. Zacks Investment Research downgraded Alcoa from a "buy" rating to a "hold" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Alcoa from $41.00 to $48.00 and gave the company a "buy" rating in a report on Wednesday, May 26th. Finally, Morgan Stanley increased their price target on Alcoa from $50.00 to $51.00 and gave the company an "overweight" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of "Buy" and an average price target of $40.18.
In other Alcoa news, EVP Benjamin D. Kahrs sold 28,082 shares of the firm's stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $39.68, for a total value of $1,114,293.76. Following the transaction, the executive vice president now owns 56,712 shares of the company's stock, valued at $2,250,332.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy D. Reyes sold 20,260 shares of the firm's stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $36.82, for a total transaction of $745,973.20. Following the completion of the transaction, the executive vice president now directly owns 91,091 shares in the company, valued at approximately $3,353,970.62. The disclosure for this sale can be found here.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its stake in shares of Alcoa by 6.5% during the first quarter. Global Retirement Partners LLC now owns 4,903 shares of the industrial products company's stock valued at $159,000 after acquiring an additional 300 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Alcoa by 83.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,554 shares of the industrial products company's stock valued at $50,000 after acquiring an additional 705 shares during the period. C M Bidwell & Associates Ltd. increased its stake in shares of Alcoa by 8.9% during the first quarter. C M Bidwell & Associates Ltd. now owns 9,200 shares of the industrial products company's stock valued at $299,000 after acquiring an additional 755 shares during the period. IFP Advisors Inc increased its stake in shares of Alcoa by 181.2% during the first quarter. IFP Advisors Inc now owns 1,468 shares of the industrial products company's stock valued at $47,000 after acquiring an additional 946 shares during the period. Finally, Independence Bank of Kentucky acquired a new position in shares of Alcoa during the first quarter valued at approximately $32,000.
Shares of AA opened at $37.06 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.52 and a debt-to-equity ratio of 0.45. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 16.25 and a beta of 2.64. The business has a fifty day moving average price of $36.67. Alcoa has a twelve month low of $10.98 and a twelve month high of $44.42.
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting, casting, and rolling businesses.
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