Alcoa Co. (NYSE:AA) Forecasted to Post Q1 2023 Earnings of $0.22 Per Share

Alcoa Co. (NYSE:AAGet Rating) – Equities researchers at Jefferies Financial Group issued their Q1 2023 earnings per share estimates for Alcoa in a note issued to investors on Thursday, January 19th. Jefferies Financial Group analyst C. Lafemina anticipates that the industrial products company will earn $0.22 per share for the quarter. The consensus estimate for Alcoa’s current full-year earnings is $2.45 per share.

Several other research firms have also commented on AA. BMO Capital Markets dropped their target price on Alcoa from $55.00 to $50.00 and set a “market perform” rating for the company in a research note on Thursday. Citigroup upped their target price on Alcoa from $45.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group began coverage on Alcoa in a research note on Thursday, October 6th. They issued a “neutral” rating and a $43.00 target price for the company. TheStreet lowered Alcoa from a “b-” rating to a “c-” rating in a research note on Wednesday, October 19th. Finally, The Goldman Sachs Group dropped their target price on Alcoa from $75.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, October 13th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Alcoa has an average rating of “Hold” and a consensus target price of $68.00.

Alcoa Stock Up 3.0 %

Shares of NYSE:AA opened at $51.00 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.75 and a debt-to-equity ratio of 0.27. Alcoa has a 52-week low of $33.55 and a 52-week high of $98.09. The stock’s fifty day simple moving average is $47.61 and its 200-day simple moving average is $45.72. The company has a market capitalization of $9.02 billion, a P/E ratio of -60.00, a P/E/G ratio of 1.67 and a beta of 2.41.

Alcoa (NYSE:AAGet Rating) last issued its quarterly earnings data on Wednesday, January 18th. The industrial products company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.05. Alcoa had a positive return on equity of 13.18% and a negative net margin of 0.82%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same period in the prior year, the business earned $2.50 earnings per share. The business’s revenue was down 20.3% on a year-over-year basis.

Institutional Investors Weigh In On Alcoa

Several institutional investors and hedge funds have recently modified their holdings of the stock. Moors & Cabot Inc. boosted its position in shares of Alcoa by 2.2% in the first quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company’s stock worth $788,000 after buying an additional 185 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in shares of Alcoa by 19.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,232 shares of the industrial products company’s stock worth $56,000 after buying an additional 200 shares during the period. Buckingham Strategic Partners boosted its position in shares of Alcoa by 1.9% in the third quarter. Buckingham Strategic Partners now owns 13,179 shares of the industrial products company’s stock worth $444,000 after buying an additional 240 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Alcoa by 0.6% in the second quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company’s stock worth $2,206,000 after buying an additional 284 shares during the period. Finally, Securian Asset Management Inc. boosted its position in shares of Alcoa by 1.8% in the second quarter. Securian Asset Management Inc. now owns 16,815 shares of the industrial products company’s stock worth $766,000 after buying an additional 296 shares during the period.

About Alcoa

(Get Rating)

Alcoa Corp. engages in the production of bauxite, alumina, and aluminum products. It operates through the following segments: Bauxite, Alumina, and Aluminum. The Bauxite segment represents the company’ global bauxite mining operations. The Alumina segment includes the company’s worldwide refining system, which processes bauxite into alumina.

See Also

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.