$3.11 Billion in Sales Expected for Alcoa Corp (AA) This Quarter

Wall Street brokerages expect Alcoa Corp (NYSE:AA) to report sales of $3.11 billion for the current quarter, according to Zacks. Two analysts have made estimates for Alcoa’s earnings. The highest sales estimate is $3.20 billion and the lowest is $3.02 billion. Alcoa posted sales of $2.66 billion during the same quarter last year, which would indicate a positive year over year growth rate of 16.9%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, April 18th.

On average, analysts expect that Alcoa will report full-year sales of $3.11 billion for the current financial year, with estimates ranging from $11.83 billion to $13.16 billion. For the next financial year, analysts forecast that the company will report sales of $12.97 billion per share, with estimates ranging from $11.78 billion to $13.59 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Alcoa.

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Alcoa (NYSE:AA) last announced its quarterly earnings results on Wednesday, January 17th. The industrial products company reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.19). The firm had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Alcoa had a net margin of 1.86% and a return on equity of 7.20%. The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 EPS.

Several brokerages have weighed in on AA. BMO Capital Markets reissued a “buy” rating and set a $65.00 price target on shares of Alcoa in a research report on Friday, December 22nd. ValuEngine raised shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Cowen reissued a “market perform” rating and set a $59.00 price target (up previously from $51.00) on shares of Alcoa in a research report on Thursday, January 18th. JPMorgan Chase & Co. increased their price target on shares of Alcoa to $68.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Finally, Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $42.00 to $61.00 in a report on Wednesday, December 20th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Alcoa has a consensus rating of “Buy” and an average price target of $58.64.

Shares of Alcoa (NYSE:AA) traded down $0.21 on Tuesday, reaching $44.71. 3,221,848 shares of the company’s stock traded hands, compared to its average volume of 3,334,351. The stock has a market cap of $8,323.93, a PE ratio of 38.88, a P/E/G ratio of 1.46 and a beta of 0.10. The company has a quick ratio of 0.86, a current ratio of 1.30 and a debt-to-equity ratio of 0.20. Alcoa has a fifty-two week low of $29.55 and a fifty-two week high of $57.50.

In related news, VP William F. Oplinger sold 229,475 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $52.86, for a total value of $12,130,048.50. Following the completion of the transaction, the vice president now directly owns 108,915 shares in the company, valued at approximately $5,757,246.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Tomas Mar Sigurdsson sold 10,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $51.37, for a total transaction of $513,700.00. Following the completion of the transaction, the chief operating officer now owns 46,832 shares of the company’s stock, valued at $2,405,759.84. The disclosure for this sale can be found here.

Several institutional investors have recently modified their holdings of AA. Alliancebernstein L.P. increased its stake in shares of Alcoa by 207.1% in the 4th quarter. Alliancebernstein L.P. now owns 5,279,091 shares of the industrial products company’s stock worth $284,385,000 after acquiring an additional 3,559,958 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Alcoa in the 3rd quarter worth about $99,757,000. Dimensional Fund Advisors LP increased its stake in shares of Alcoa by 88.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,700,684 shares of the industrial products company’s stock worth $125,898,000 after acquiring an additional 1,264,324 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of Alcoa in the 4th quarter worth about $35,651,000. Finally, BlackRock Inc. increased its stake in shares of Alcoa by 7.0% in the 4th quarter. BlackRock Inc. now owns 8,761,507 shares of the industrial products company’s stock worth $471,984,000 after acquiring an additional 570,178 shares in the last quarter.

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Alcoa Company Profile

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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