ALCOA CORP to Release Earnings on Wednesday

　　ALCOA CORP (NYSE:AA) is set to post its quarterly earnings results after the market closes on Wednesday, October 18th. Analysts expect ALCOA CORP to post earnings of $0.71 per share for the quarter.

ALCOA CORP (NYSE:AA) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. ALCOA CORP had a return on equity of 3.29% and a net margin of 1.63%. The company had revenue of $2.86 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the business earned $0.15 EPS. ALCOA CORP’s revenue was up 23.1% compared to the same quarter last year. On average, analysts expect ALCOA CORP to post $3.1 EPS for the current fiscal year and $3.67 EPS for the next fiscal year.

ALCOA CORP (AA) opened at 47.71 on Monday. ALCOA CORP has a one year low of $20.00 and a one year high of $49.30. The company’s 50-day moving average price is $46.13 and its 200-day moving average price is $46.13. The stock has a market cap of $8.79 billion and a P/E ratio of 54.28.

AA has been the subject of several analyst reports. Deutsche Bank AG raised shares of ALCOA CORP from a “hold” rating to a “buy” rating and raised their price objective for the stock from $44.00 to $60.00 in a research note on Tuesday, September 12th. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price objective on shares of ALCOA CORP in a research note on Saturday, July 22nd. BMO Capital Markets set a $45.00 price objective on shares of ALCOA CORP and gave the stock a “buy” rating in a research note on Saturday, August 5th. Morgan Stanley downgraded shares of ALCOA CORP from a “top pick” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $47.00 in a research note on Tuesday, June 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of ALCOA CORP from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Thursday, September 14th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $48.88.

ALCOA CORP Company Profile

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.