Brokers Offer Predictions for Alcoa Co.’s Q4 2024 Earnings (NYSE:AA)

Alcoa Co. (NYSE:AA) – B. Riley raised their Q4 2024 earnings per share (EPS) estimates for Alcoa in a research note issued to investors on Tuesday, September 17th. B. Riley analyst L. Pipes now anticipates that the industrial products company will post earnings per share of $0.43 for the quarter, up from their prior forecast of $0.39. B. Riley has a “Neutral” rating and a $41.00 price objective on the stock. The consensus estimate for Alcoa’s current full-year earnings is $0.70 per share.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.84 billion. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.35) EPS.

Several other equities research analysts also recently issued reports on the company. Morgan Stanley dropped their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Bank of America dropped their price objective on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 target price on shares of Alcoa in a report on Tuesday. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Finally, Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Wednesday, September 4th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.45.

Alcoa Stock Performance

NYSE AA opened at $34.92 on Thursday. The company’s 50 day moving average is $32.70 and its 200-day moving average is $35.61. The firm has a market cap of $6.27 billion, a P/E ratio of -9.29 and a beta of 2.42. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.

Alcoa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.15%. Alcoa’s dividend payout ratio is presently -10.64%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AA. Newbridge Financial Services Group Inc. purchased a new stake in Alcoa in the second quarter worth approximately $27,000. Spire Wealth Management boosted its stake in shares of Alcoa by 252.5% in the 1st quarter. Spire Wealth Management now owns 899 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 644 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Alcoa during the 4th quarter valued at $39,000. Quest Partners LLC bought a new position in shares of Alcoa during the 4th quarter valued at $40,000. Finally, Quadrant Capital Group LLC raised its position in Alcoa by 56.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 576 shares during the period. 82.39% of the stock is currently owned by hedge funds and other institutional investors.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.