Brokerages Anticipate Alcoa Corp (NYSE:AA) Will Post Quarterly Sales of $2.20 Billion

Equities analysts forecast that Alcoa Corp (NYSE:AA) will post sales of $2.20 billion for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Alcoa’s earnings, with estimates ranging from $2.18 billion to $2.22 billion. Alcoa reported sales of $2.57 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.4%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, October 14th.

On average, analysts expect that Alcoa will report full-year sales of $9.03 billion for the current financial year, with estimates ranging from $8.89 billion to $9.19 billion. For the next fiscal year, analysts forecast that the business will report sales of $9.30 billion, with estimates ranging from $9.18 billion to $9.42 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Alcoa.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, July 15th. The industrial products company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.36. Alcoa had a negative net margin of 6.72% and a negative return on equity of 3.16%. The business had revenue of $2.15 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter last year, the company posted ($0.01) earnings per share. The firm’s quarterly revenue was down 20.8% compared to the same quarter last year.

Several equities analysts have recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Alcoa from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 24th. Deutsche Bank downgraded shares of Alcoa from a “buy” rating to a “hold” rating and set a $10.00 target price for the company. in a research note on Monday, June 15th. Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $17.00 in a research note on Tuesday, September 8th. ValuEngine downgraded shares of Alcoa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 1st. Finally, Credit Suisse Group lifted their target price on shares of Alcoa from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.00.

A number of institutional investors have recently made changes to their positions in the business. Two Sigma Advisers LP lifted its position in Alcoa by 4.4% during the second quarter. Two Sigma Advisers LP now owns 3,441,705 shares of the industrial products company’s stock valued at $38,685,000 after purchasing an additional 146,000 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Alcoa by 11.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 82,277 shares of the industrial products company’s stock valued at $925,000 after purchasing an additional 8,661 shares during the last quarter. Principal Financial Group Inc. lifted its position in Alcoa by 166.9% during the second quarter. Principal Financial Group Inc. now owns 627,923 shares of the industrial products company’s stock valued at $7,058,000 after purchasing an additional 392,659 shares during the last quarter. Ninety One UK Ltd bought a new stake in Alcoa during the second quarter valued at approximately $4,558,000. Finally, Quadrature Capital Ltd bought a new stake in Alcoa during the second quarter valued at approximately $1,227,000.

NYSE AA traded down $0.57 during trading hours on Tuesday, reaching $11.67. 5,169,619 shares of the company were exchanged, compared to its average volume of 7,778,639. The stock has a market capitalization of $2.17 billion, a P/E ratio of -3.38 and a beta of 2.22. The company has a quick ratio of 0.79, a current ratio of 1.42 and a debt-to-equity ratio of 0.34. The business’s 50 day simple moving average is $14.06 and its 200-day simple moving average is $10.71. Alcoa has a 1 year low of $5.16 and a 1 year high of $23.47.

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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