Analysts Anticipate Alcoa Corp (AA) Will Announce Quarterly Sales of $3.35 Billion

Analysts forecast that Alcoa Corp (NYSE:AA) will post sales of $3.35 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Alcoa’s earnings, with the highest sales estimate coming in at $3.41 billion and the lowest estimate coming in at $3.29 billion. Alcoa reported sales of $2.54 billion in the same quarter last year, which would suggest a positive year over year growth rate of 31.9%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, January 17th.

According to Zacks, analysts expect that Alcoa will report full year sales of $3.35 billion for the current year, with estimates ranging from $11.50 billion to $11.88 billion. For the next financial year, analysts forecast that the firm will post sales of $12.44 billion per share, with estimates ranging from $12.06 billion to $13.20 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Alcoa.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.05). Alcoa had a return on equity of 4.90% and a net margin of 2.61%. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis.

A number of equities research analysts have issued reports on AA shares. BMO Capital Markets reissued a “buy” rating and set a $65.00 target price on shares of Alcoa in a research note on Friday, December 22nd. Credit Suisse Group raised shares of Alcoa from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $42.00 to $61.00 in a research note on Wednesday, December 20th. Morgan Stanley set a $55.00 target price on shares of Alcoa and gave the company a “buy” rating in a research note on Tuesday, December 19th. Citigroup set a $55.00 target price on shares of Alcoa and gave the company a “buy” rating in a research note on Wednesday, November 29th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $60.00 target price on shares of Alcoa in a research note on Thursday, October 19th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $53.07.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fruth Investment Management acquired a new stake in Alcoa in the 4th quarter worth $200,000. Prudential Financial Inc. grew its position in Alcoa by 26.0% in the 3rd quarter. Prudential Financial Inc. now owns 1,230,774 shares of the industrial products company’s stock worth $57,378,000 after purchasing an additional 254,100 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Alcoa by 48.0% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 613,306 shares of the industrial products company’s stock valued at $28,592,000 after acquiring an additional 198,895 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Alcoa by 6.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 80,047 shares of the industrial products company’s stock valued at $3,732,000 after acquiring an additional 5,137 shares in the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in shares of Alcoa during the 3rd quarter valued at about $10,295,000.

Alcoa (AA) opened at $56.17 on Thursday. Alcoa has a 52 week low of $29.55 and a 52 week high of $56.26. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.38 and a quick ratio of 0.90. The company has a market cap of $10,390.00 and a P/E ratio of 38.47.

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About Alcoa

Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.

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Earnings History and Estimates for Alcoa (NYSE:AA)

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