Alcoa Co. (NYSE:AA) Expected to Earn Q4 2024 Earnings of $0.43 Per Share

Alcoa Co. (NYSE:AA) – Research analysts at B. Riley boosted their Q4 2024 earnings per share estimates for shares of Alcoa in a research report issued to clients and investors on Tuesday, September 17th. B. Riley analyst L. Pipes now expects that the industrial products company will post earnings per share of $0.43 for the quarter, up from their prior estimate 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.

Several other equities analysts also recently weighed in on AA. Wolfe Research raised 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. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a research note on Friday. UBS Group raised their price objective on Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley dropped their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, B. Riley Financial reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Alcoa has a consensus rating of “Hold” and an average price target of $40.45.

Alcoa Stock Performance

Shares of AA stock opened at $33.83 on Thursday. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -9.00 and a beta of 2.42. The stock has a 50 day simple moving average of $32.61 and a 200-day simple moving average of $35.61. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AA. Newbridge Financial Services Group Inc. purchased a new position in Alcoa in the second quarter valued at about $27,000. Spire Wealth Management raised its position in Alcoa by 252.5% in the first 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 during the period. Scarborough Advisors LLC purchased a new position in Alcoa in the fourth quarter valued at about $39,000. Quest Partners LLC purchased a new position in Alcoa in the fourth quarter valued at about $40,000. Finally, Quadrant Capital Group LLC raised its position in Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock valued at $55,000 after purchasing an additional 576 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, August 12th. Alcoa’s payout ratio is currently -10.64%.

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.