ALCOA CORP EXPECTED TO ANNOUNCE QUARTERLY SALES OF $3.03 BILLION

　　Equities analysts expect that ALCOA CORP will post sales of $3.03 billion for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for ALCOA CORP’s earnings. The lowest sales estimate is $2.97 billion and the highest is $3.09 billion. The firm is expected to announce its next earnings results after the market closes on Wednesday, October 18th.

According to Zacks, analysts expect that ALCOA CORP will report full-year sales of $3.03 billion for the current year, with estimates ranging from $11.10 billion to $11.87 billion. For the next fiscal year, analysts expect that the business will report sales of $11.90 billion per share, with estimates ranging from $11.27 billion to $12.80 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover ALCOA CORP.

ALCOA CORP last released 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 net margin of 1.63% and a return on equity of 3.29%. The firm had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year.

Several research firms have issued reports on AA. BMO Capital Markets reiterated a “buy” rating and issued a $45.00 price objective on shares of ALCOA CORP in a research report on Friday, June 2nd. Morgan Stanley cut ALCOA CORP from a “top pick” rating to a “buy” rating and increased their price objective for the stock from $43.00 to $47.00 in a research report on Tuesday, June 27th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and issued a $44.00 price objective on shares of ALCOA CORP in a research report on Wednesday, August 9th. Zacks Investment Research upgraded ALCOA CORP from a “hold” rating to a “strong-buy” rating and set a $51.00 price objective for the company in a research report on Wednesday, September 6th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price objective on shares of ALCOA CORP in a research report on Saturday, July 22nd. Four analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.44.

A number of large investors have recently modified their holdings of AA. BlackRock Inc. boosted its stake in ALCOA CORP by 4,113.0% in the 1st quarter. BlackRock Inc. now owns 6,820,599 shares of the industrial products company’s stock worth $234,632,000 after buying an additional 6,658,703 shares during the last quarter. Old Mutual Global Investors UK Ltd. boosted its stake in ALCOA CORP by 163.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 4,539,019 shares of the industrial products company’s stock worth $148,198,000 after buying an additional 2,816,320 shares during the last quarter. BT Investment Management Ltd acquired a new stake in ALCOA CORP in the 2nd quarter worth about $83,380,000. Assenagon Asset Management S.A. acquired a new stake in ALCOA CORP in the 2nd quarter worth about $63,686,000. Finally, Vanguard Group Inc. boosted its stake in ALCOA CORP by 14.5% in the 2nd quarter. Vanguard Group Inc. now owns 14,851,293 shares of the industrial products company’s stock worth $484,895,000 after buying an additional 1,885,745 shares during the last quarter.

Shares of ALCOA CORP opened at 45.38 on Friday. ALCOA CORP has a 1-year low of $20.00 and a 1-year high of $46.44. The firm has a market cap of $8.37 billion and a PE ratio of 51.63. The company has a 50-day moving average of $44.87 and a 200-day moving average of $44.87.