Zacks: Brokerages Anticipate Alcoa Corp (NYSE:AA) to Post -$0.56 EPS

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Brokerages predict that Alcoa Corp (NYSE:AA) will post ($0.56) earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Alcoa’s earnings, with the highest EPS estimate coming in at ($0.08) and the lowest estimate coming in at ($1.21). Alcoa posted earnings of ($0.01) per share during the same quarter last year, which would indicate a negative year over year growth rate of 5,500%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Wednesday, July 15th.

On average, analysts expect that Alcoa will report full-year earnings of ($1.13) per share for the current financial year, with EPS estimates ranging from ($2.02) to ($0.04). For the next year, analysts forecast that the company will post earnings of ($0.34) per share, with EPS estimates ranging from ($1.03) to $0.39. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Alcoa.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.06. Alcoa had a negative return on equity of 2.93% and a negative net margin of 8.38%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm earned ($0.23) earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year.

AA has been the subject of several recent analyst reports. Deutsche Bank downgraded Alcoa from a “buy” rating to a “hold” rating and set a $10.00 price target for the company. in a report on Monday, June 15th. Morgan Stanley raised their price target on Alcoa from $8.50 to $11.70 and gave the stock an “equal weight” rating in a report on Tuesday, June 23rd. Credit Suisse Group raised their price target on Alcoa from $13.00 to $15.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, June 17th. Finally, Citigroup raised their price target on Alcoa from $8.00 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, June 16th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $15.25.

Several institutional investors have recently added to or reduced their stakes in AA. Donald Smith & CO. Inc. acquired a new stake in shares of Alcoa during the first quarter worth about $9,263,000. JPMorgan Chase & Co. lifted its holdings in shares of Alcoa by 140.8% during the first quarter. JPMorgan Chase & Co. now owns 2,061,943 shares of the industrial products company’s stock worth $12,701,000 after purchasing an additional 1,205,694 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Alcoa by 625.1% during the first quarter. Wells Fargo & Company MN now owns 1,230,001 shares of the industrial products company’s stock worth $7,577,000 after purchasing an additional 1,060,359 shares during the period. FMR LLC lifted its holdings in Alcoa by 136.4% in the first quarter. FMR LLC now owns 1,048,586 shares of the industrial products company’s stock valued at $29,528,000 after acquiring an additional 605,094 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in Alcoa by 332.7% in the fourth quarter. Point72 Asset Management L.P. now owns 349,120 shares of the industrial products company’s stock valued at $7,510,000 after acquiring an additional 499,120 shares during the period.

Shares of NYSE AA opened at $11.51 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.82 and a current ratio of 1.50. The company has a market cap of $2.12 billion, a PE ratio of -2.52 and a beta of 2.19. The business has a 50-day simple moving average of $11.05 and a two-hundred day simple moving average of $11.77. Alcoa has a fifty-two week low of $5.16 and a fifty-two week high of $24.63.

Alcoa Company Profile

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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