Alcoa Co. to Post Q4 2024 Earnings of $0.43 Per Share, B. Riley Forecasts (NYSE:AA)

Alcoa Co. (NYSE:AA) – Equities researchers at B. Riley lifted 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 anticipates that the industrial products company will post earnings of $0.43 per share 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.

Alcoa (NYSE:AA) last released its quarterly earnings results 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 business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) earnings per share.

A number of other analysts have also commented on AA. Bank of America dropped their price target on Alcoa from $46.00 to $43.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. Morgan Stanley cut their price target on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Wednesday, September 4th. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research report on Thursday, July 18th. Finally, B. Riley Financial reissued a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Alcoa presently has a consensus rating of “Hold” and an average price target of $40.27.

Alcoa Price Performance

Shares of NYSE AA opened at $34.38 on Thursday. The company has a market capitalization of $6.17 billion, a PE ratio of -9.14 and a beta of 2.42. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $32.78 and its 200-day moving average price is $35.62. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48.

Alcoa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a dividend of $0.10 per share. The ex-dividend date was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.16%. Alcoa’s dividend payout ratio is currently -10.64%.

Hedge Funds Weigh In On Alcoa

Several hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC bought a new position in shares of Alcoa in the fourth quarter valued at approximately $247,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Alcoa by 34.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,788 shares of the industrial products company’s stock valued at $673,000 after purchasing an additional 5,058 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Alcoa by 4.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 37,158 shares of the industrial products company’s stock worth $1,263,000 after purchasing an additional 1,676 shares during the period. Quadrant Capital Group LLC raised its position in shares of Alcoa by 56.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,605 shares of the industrial products company’s stock worth $55,000 after buying an additional 576 shares in the last quarter. Finally, ING Groep NV bought a new stake in Alcoa during the fourth quarter valued at $1,326,000. 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.