Wall Street brokerages forecast that Alcoa Corp (NYSE:AA) will post earnings of $0.77 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Alcoa Corp’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.85. The firm is expected to report its next earnings results after the market closes on Wednesday, October 18th.

On average, analysts expect that Alcoa Corp will report full-year earnings of $2.94 per share for the current year, with EPS estimates ranging from $2.60 to $3.37. For the next year, analysts anticipate that the company will post earnings of $3.15 per share, with EPS estimates ranging from $1.22 to $4.28. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Alcoa Corp.

Alcoa Corp (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 19th. The industrial products company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.88 billion. Alcoa Corp had a net margin of 1.63% and a return on equity of 3.29%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS.

Several equities analysts have recently issued reports on AA shares. Deutsche Bank AG reissued a “hold” rating and set a $44.00 target price (up from $37.00) on shares of Alcoa Corp in a research note on Sunday, June 25th. Zacks Investment Research raised Alcoa Corp from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Thursday, September 14th. Morgan Stanley reissued an “overweight” rating on shares of Alcoa Corp in a research note on Friday, July 21st. Credit Suisse Group started coverage on Alcoa Corp in a research note on Wednesday, August 9th. They set a “neutral” rating and a $42.00 target price on the stock. Finally, Berenberg Bank cut Alcoa Corp from a “buy” rating to a “hold” rating and boosted their target price for the company from $41.00 to $44.00 in a research note on Friday. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $43.69.

Shares of Alcoa Corp (AA) traded down 1.88% during mid-day trading on Thursday, hitting $45.38. 3,224,564 shares of the stock traded hands. The firm’s 50-day moving average is $44.87 and its 200-day moving average is $44.87. Alcoa Corp has a 52 week low of $20.00 and a 52 week high of $46.44. The stock has a market cap of $8.37 billion and a price-to-earnings ratio of 51.63.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC purchased a new stake in shares of Alcoa Corp in the first quarter worth $133,000. Pacer Advisors Inc. grew its stake in shares of Alcoa Corp by 3.3% in the first quarter. Pacer Advisors Inc. now owns 4,140 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 132 shares during the last quarter. NEXT Financial Group Inc grew its stake in shares of Alcoa Corp by 2.4% in the second quarter. NEXT Financial Group Inc now owns 4,462 shares of the industrial products company’s stock worth $146,000 after acquiring an additional 104 shares during the last quarter. Global X Management Co. LLC grew its stake in shares of Alcoa Corp by 220.6% in the second quarter. Global X Management Co. LLC now owns 5,803 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 3,993 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Alcoa Corp by 3.8% in the second quarter. Van ECK Associates Corp now owns 5,779 shares of the industrial products company’s stock worth $189,000 after acquiring an additional 213 shares during the last quarter.

About Alcoa Corp

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 Corp (NYSE:AA)

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