Alcoa Co. (NYSE:AA – Get Rating) – Stock analysts at B. Riley issued their Q1 2023 earnings estimates for shares of Alcoa in a research note issued to investors on Thursday, January 19th. B. Riley analyst L. Pipes expects that the industrial products company will earn ($0.12) per share for the quarter. B. Riley currently has a "Neutral" rating and a $42.00 target price on the stock. The consensus estimate for Alcoa's current full-year earnings is $2.45 per share. B. Riley also issued estimates for Alcoa's Q2 2023 earnings at $0.26 EPS, Q3 2023 earnings at $0.77 EPS, Q4 2023 earnings at $0.86 EPS, FY2023 earnings at $1.76 EPS, FY2024 earnings at $4.59 EPS and FY2025 earnings at $4.59 EPS.
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Alcoa (NYSE:AA – Get Rating) last issued its quarterly earnings results on Wednesday, January 18th. The industrial products company reported ($0.70) EPS for the quarter, topping analysts' consensus estimates of ($0.75) by $0.05. Alcoa had a negative net margin of 0.82% and a positive return on equity of 13.18%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business's revenue for the quarter was down 20.3% compared to the same quarter last year.
Other equities research analysts have also recently issued research reports about the stock. StockNews.com began coverage on shares of Alcoa in a research note on Wednesday, October 12th. They issued a "hold" rating for the company. BMO Capital Markets cut their price objective on shares of Alcoa from $55.00 to $50.00 and set a "market perform" rating for the company in a research note on Thursday. Morgan Stanley cut their price objective on shares of Alcoa from $56.00 to $52.00 and set an "equal weight" rating for the company in a research note on Friday. TheStreet cut shares of Alcoa from a "b-" rating to a "c-" rating in a research note on Wednesday, October 19th. Finally, UBS Group initiated coverage on shares of Alcoa in a research report on Thursday, October 6th. They set a "neutral" rating and a $43.00 price target for the company. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Alcoa currently has a consensus rating of "Hold" and a consensus price target of $68.00.
Alcoa Price Performance
Shares of Alcoa stock opened at $51.00 on Monday. Alcoa has a 52-week low of $33.55 and a 52-week high of $98.09. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of -60.00, a price-to-earnings-growth ratio of 1.67 and a beta of 2.41. The company has a fifty day moving average of $47.61 and a 200-day moving average of $45.72. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.00 and a current ratio of 1.75.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Deutsche Bank AG increased its stake in shares of Alcoa by 39.9% in the 2nd quarter. Deutsche Bank AG now owns 667,512 shares of the industrial products company's stock worth $30,424,000 after acquiring an additional 190,523 shares in the last quarter. Aviva PLC bought a new position in shares of Alcoa in the 2nd quarter worth about $3,272,000. Securian Asset Management Inc. increased its stake in shares of Alcoa by 1.8% in the 2nd quarter. Securian Asset Management Inc. now owns 16,815 shares of the industrial products company's stock worth $766,000 after acquiring an additional 296 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Alcoa in the 2nd quarter worth about $3,662,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Alcoa by 48.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 2,267 shares of the industrial products company's stock worth $76,000 after acquiring an additional 743 shares in the last quarter.
About Alcoa
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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.
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