Alcoa Co. (NYSE:AA) Expected to Announce Earnings of $1.30 Per Share

Wall Street analysts predict that Alcoa Co. (NYSE:AA) will report earnings per share of $1.30 for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Alcoa’s earnings, with the lowest EPS estimate coming in at $0.84 and the highest estimate coming in at $1.65. Alcoa posted earnings per share of ($0.02) in the same quarter last year, which would suggest a positive year-over-year growth rate of 6,600%. The firm is scheduled to report its next earnings report on Wednesday, July 21st.

According to Zacks, analysts expect that Alcoa will report full year earnings of $4.65 per share for the current financial year, with EPS estimates ranging from $3.19 to $5.83. For the next financial year, analysts expect that the company will post earnings of $4.40 per share, with EPS estimates ranging from $2.05 to $8.50. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Alcoa.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 14th. The industrial products company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.33. Alcoa had a negative return on equity of 0.45% and a negative net margin of 0.77%. The company had revenue of $2.87 billion during the quarter, compared to the consensus estimate of $2.65 billion. During the same quarter in the prior year, the company earned ($0.23) earnings per share. The firm’s revenue for the quarter was up 20.5% on a year-over-year basis.

Several research firms recently commented on AA. BMO Capital Markets boosted their price objective on shares of Alcoa from $36.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, April 16th. Deutsche Bank Aktiengesellschaft raised their price objective on Alcoa from $41.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 26th. B. Riley boosted their target price on Alcoa from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, April 30th. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, March 26th. Finally, JPMorgan Chase & Co. lifted their price target on Alcoa from $39.00 to $49.00 and gave the stock an “overweight” rating in a research report on Monday, May 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Alcoa has an average rating of “Buy” and an average target price of $33.50.

In related news, CEO Roy Christopher Harvey sold 238,037 shares of the firm’s stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $32.91, for a total value of $7,833,797.67. Following the sale, the chief executive officer now owns 534,297 shares in the company, valued at $17,583,714.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey D. Heeter sold 12,260 shares of Alcoa stock in a transaction that occurred on Tuesday, April 20th. The stock was sold at an average price of $35.35, for a total transaction of $433,391.00. Following the completion of the sale, the executive vice president now directly owns 93,948 shares of the company’s stock, valued at approximately $3,321,061.80. The disclosure for this sale can be found here. Insiders have sold 298,639 shares of company stock worth $10,127,456 over the last ninety days.

A number of institutional investors have recently bought and sold shares of AA. Independence Bank of Kentucky bought a new stake in Alcoa during the first quarter valued at approximately $32,000. Lion Point Capital LP purchased a new position in shares of Alcoa during the 1st quarter worth $32,000. Eudaimonia Partners LLC bought a new stake in shares of Alcoa during the 1st quarter valued at $41,000. IFP Advisors Inc increased its stake in shares of Alcoa by 181.2% in the 1st quarter. IFP Advisors Inc now owns 1,468 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 946 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Alcoa by 83.0% in the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,554 shares of the industrial products company’s stock worth $50,000 after purchasing an additional 705 shares during the period.

Shares of NYSE:AA traded up $0.43 during midday trading on Friday, reaching $37.85. The company’s stock had a trading volume of 86,294 shares, compared to its average volume of 6,672,696. 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 business has a 50 day moving average of $36.68. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of -92.56 and a beta of 2.65. Alcoa has a 12-month low of $10.27 and a 12-month high of $44.42.

Alcoa Company Profile

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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Earnings History and Estimates for Alcoa (NYSE:AA)

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