Alcoa Co. (NYSE:AA) to Post Q3 2024 Earnings of $0.24 Per Share, B. Riley Forecasts

Alcoa Co. (NYSE:AA) – Equities research analysts at B. Riley issued their Q3 2024 earnings per share estimates for Alcoa in a report released on Tuesday, September 24th. B. Riley analyst L. Pipes expects that the industrial products company will post earnings of $0.24 per share for the quarter. 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 $0.56 per share. B. Riley also issued estimates for Alcoa’s Q4 2024 earnings at $0.44 EPS, FY2024 earnings at $0.03 EPS and FY2026 earnings at $2.49 EPS.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley cut their target price on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. assumed coverage on shares of Alcoa in a research note on Wednesday. They issued a “neutral” rating and a $36.00 target price for the company. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. B. Riley Financial reiterated a “neutral” rating and issued a $41.00 target price on shares of Alcoa in a research note on Tuesday, September 17th. Finally, Bank of America cut their target price on shares of Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $40.82.

Alcoa Stock Down 0.0 %

NYSE AA opened at $39.27 on Friday. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average is $32.51 and its two-hundred day moving average is $35.97. The company has a market capitalization of $7.05 billion, a price-to-earnings ratio of -10.44 and a beta of 2.42. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $2.91 billion for 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 quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) earnings per share.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AA. Newbridge Financial Services Group Inc. bought a new stake in shares of Alcoa during the 2nd quarter valued at $27,000. Scarborough Advisors LLC bought a new stake in shares of Alcoa during the 4th quarter valued at $39,000. Quest Partners LLC bought a new stake in shares of Alcoa during the 4th quarter valued at $40,000. Toronto Dominion Bank raised its position in shares of Alcoa by 1,501.9% during the 1st quarter. Toronto Dominion Bank now owns 1,698 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,592 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Alcoa by 15.1% during the 2nd quarter. Fifth Third Bancorp now owns 2,353 shares of the industrial products company’s stock valued at $94,000 after acquiring an additional 309 shares during the last quarter. Institutional investors own 82.39% of the company’s stock.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.02%. The ex-dividend date was Monday, August 12th. Alcoa’s dividend payout ratio (DPR) is presently -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.