Brokerages predict that Alcoa Corp (NYSE:AA) will announce $3.51 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Alcoa’s earnings, with the lowest sales estimate coming in at $3.37 billion and the highest estimate coming in at $3.67 billion. Alcoa posted sales of $3.17 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.7%. The company is scheduled to report its next quarterly earnings results on Wednesday, January 16th.

On average, analysts expect that Alcoa will report full-year sales of $13.51 billion for the current fiscal year, with estimates ranging from $13.22 billion to $13.73 billion. For the next financial year, analysts forecast that the company will post sales of $13.76 billion, with estimates ranging from $13.28 billion to $14.49 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Alcoa.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, October 17th. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.27. Alcoa had a positive return on equity of 10.38% and a negative net margin of 0.09%. The business had revenue of $3.39 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The business’s revenue was up 14.4% compared to the same quarter last year.

AA has been the topic of a number of recent research reports. Zacks Investment Research raised 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, September 25th. Credit Suisse Group dropped their price target on Alcoa from $69.00 to $65.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. Morgan Stanley dropped their price target on Alcoa from $60.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, July 23rd. ValuEngine downgraded Alcoa from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. Finally, BMO Capital Markets dropped their price target on Alcoa from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $61.67.

Several hedge funds and other institutional investors have recently modified their holdings of AA. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Alcoa in the third quarter valued at about $2,084,000. GSA Capital Partners LLP purchased a new stake in Alcoa in the third quarter valued at about $750,000. Standard Life Aberdeen plc raised its stake in Alcoa by 262.7% in the third quarter. Standard Life Aberdeen plc now owns 136,249 shares of the industrial products company’s stock valued at $5,505,000 after buying an additional 98,684 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Alcoa in the third quarter valued at about $2,848,000. Finally, Dimensional Fund Advisors LP raised its stake in Alcoa by 23.9% in the third quarter. Dimensional Fund Advisors LP now owns 4,310,667 shares of the industrial products company’s stock valued at $174,152,000 after buying an additional 831,410 shares during the last quarter.

Shares of AA traded up $0.99 during midday trading on Tuesday, reaching $34.72. 4,016,944 shares of the stock were exchanged, compared to its average volume of 4,062,227. Alcoa has a 52 week low of $33.08 and a 52 week high of $62.35. The company has a current ratio of 1.40, a quick ratio of 0.84 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 1.04 and a beta of 0.75.

Alcoa announced that its Board of Directors has authorized a share repurchase program on Wednesday, October 17th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.

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Earnings History and Estimates for Alcoa (NYSE:AA)

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