Brokerages expect Alcoa Corp (NYSE:AA) to post $0.74 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Alcoa’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.94. Alcoa reported earnings of $0.72 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.8%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, October 17th.

On average, analysts expect that Alcoa will report full-year earnings of $4.22 per share for the current fiscal year, with EPS estimates ranging from $3.37 to $4.89. For the next fiscal year, analysts expect that the company will report earnings of $4.19 per share, with EPS estimates ranging from $3.15 to $5.27. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Alcoa.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, July 18th. The industrial products company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.19. Alcoa had a return on equity of 10.30% and a net margin of 1.11%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The business’s revenue was up 25.2% compared to the same quarter last year.

AA has been the topic of several research reports. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research report on Tuesday. Credit Suisse Group dropped their price target on Alcoa from $65.00 to $58.00 and set an “outperform” rating on the stock in a research report on Tuesday. Berenberg Bank initiated coverage on Alcoa in a research report on Friday, September 21st. They set a “buy” rating and a $54.00 price target on the stock. B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the company from $48.00 to $50.00 in a research report on Wednesday, September 12th. Finally, ValuEngine lowered Alcoa from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $61.12.

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Alcoa in the second quarter worth $105,000. Quad Cities Investment Group LLC purchased a new position in shares of Alcoa in the second quarter worth $112,000. Berson & Corrado Investment Advisors LLC purchased a new position in shares of Alcoa in the second quarter worth $202,000. Lodestar Investment Counsel LLC IL purchased a new position in shares of Alcoa in the second quarter worth $205,000. Finally, Hartford Investment Management Co. purchased a new position in shares of Alcoa in the second quarter worth $206,000.

AA opened at $40.15 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 1.42. Alcoa has a 52-week low of $39.58 and a 52-week high of $62.35. The company has a market cap of $7.69 billion, a PE ratio of 13.39, a price-to-earnings-growth ratio of 2.15 and a beta of -0.23.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products. The company offers aluminum sheets for the production of cans for beverage and food. It also engages in the aluminum smelting, casting, and rolling businesses; and generation and sale of renewable energy, as well as provision of ancillary services.

Featured Story: Day Trading

Get a free copy of the Zacks research report on Alcoa (AA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.