Equities research analysts expect Alcoa Corp (NYSE:AA) to post sales of $2.61 billion for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Alcoa’s earnings, with the lowest sales estimate coming in at $2.54 billion and the highest estimate coming in at $2.70 billion. Alcoa posted sales of $3.39 billion during the same quarter last year, which would indicate a negative year over year growth rate of 23%. The business is scheduled to report its next earnings report on Wednesday, October 16th.

According to Zacks, analysts expect that Alcoa will report full year sales of $10.97 billion for the current year, with estimates ranging from $10.54 billion to $11.89 billion. For the next year, analysts expect that the business will post sales of $11.05 billion, with estimates ranging from $10.51 billion to $11.70 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Alcoa.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.33. Alcoa had a positive return on equity of 2.78% and a negative net margin of 4.92%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Alcoa’s revenue was down 24.3% on a year-over-year basis.

Several research firms recently issued reports on AA. BMO Capital Markets set a $35.00 target price on Alcoa and gave the stock a “buy” rating in a report on Wednesday, July 3rd. ValuEngine upgraded Alcoa from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group lowered Alcoa from a “buy” rating to a “hold” rating and dropped their target price for the stock from $29.00 to $23.00 in a report on Thursday, July 18th. Macquarie lowered Alcoa from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $34.00 to $25.00 in a report on Tuesday, July 9th. Finally, Zacks Investment Research lowered Alcoa from a “hold” rating to a “sell” rating in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $35.69.

A number of large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in Alcoa by 143.3% in the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after buying an additional 589 shares during the period. US Bancorp DE grew its position in shares of Alcoa by 7.6% in the second quarter. US Bancorp DE now owns 8,662 shares of the industrial products company’s stock valued at $203,000 after purchasing an additional 614 shares during the last quarter. Jennison Associates LLC grew its position in shares of Alcoa by 0.3% in the first quarter. Jennison Associates LLC now owns 249,415 shares of the industrial products company’s stock valued at $7,024,000 after purchasing an additional 629 shares during the last quarter. Virginia Retirement Systems ET AL grew its position in shares of Alcoa by 2.4% in the second quarter. Virginia Retirement Systems ET AL now owns 34,300 shares of the industrial products company’s stock valued at $803,000 after purchasing an additional 800 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Alcoa by 10.0% in the first quarter. CIBC Asset Management Inc now owns 9,005 shares of the industrial products company’s stock valued at $254,000 after purchasing an additional 821 shares during the last quarter.

AA traded up $0.59 on Thursday, hitting $19.11. 4,086,340 shares of the company were exchanged, compared to its average volume of 3,628,349. Alcoa has a 12 month low of $18.33 and a 12 month high of $45.65. The company has a market cap of $3.56 billion, a P/E ratio of 5.34 and a beta of 1.34. The company has a current ratio of 1.51, a quick ratio of 0.81 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $22.17.

About Alcoa

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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