In the last trading session, 6.03 million Alcoa Corporation (NYSE:AA) shares changed hands as the company’s beta touched 2.72. With the company’s per share price at $33.91 changed hands at $0.82 or 2.48% during last session, the market valuation stood at $6.63B. AA’s last price was a discount, traded about -30.99% off its 52-week high of $44.42. The share price had its 52-week low at $10.43, which suggests the last value was 69.24% up since then. When we look at Alcoa Corporation’s average trading volume, we note the 10-day average is 8.19 million shares, with the 3-month average coming to 6.75 million.
Analysts gave the Alcoa Corporation (AA) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.40. If we narrow down to specifics, the data shows that 0 out of 13 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 6 recommended AA as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Alcoa Corporation’s EPS for the current quarter is expected to be $1.3.
Alcoa Corporation (NYSE:AA) trade information
Instantly AA was in green as seen at the end of in last trading. With action -6.56%, the performance over the past five days has been red. The jump to weekly highs of 35.85 on Tuesday, 06/22/21 added 2.48% to the stock’s daily price. The company’s shares are showing year-to-date upside of 47.11%, with the 5-day performance at -6.56% in the red. However, in the 30-day time frame, Alcoa Corporation (NYSE:AA) is -6.17% down. Looking at the short shares, we see there were 9.51 million shares sold at short interest cover period of 1.55 days.
The consensus price target for the stock as assigned by Wall Street analysts is $41.32, meaning bulls need an upside of 17.93% from its current market value. According to analyst projections, AA’s forecast low is $27.00 with $56.00 as the target high. To hit the forecast high, the stock’s price needs a -65.14% plunge from its current level, while the stock would need to tank 20.38% for it to hit the projected low.
Alcoa Corporation (AA) estimates and forecasts
Data shows that the Alcoa Corporation share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 54.07% over the past 6 months, a 502.59% in annual growth rate that is considerably higher than the industry average of 49.40%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2021 revenue estimates. The rating firms predict current quarter revenue for Alcoa Corporation will rise 6,600.00%, while the growth in revenue is estimated to hit 213.70% for the next quarter. Year-over-year growth is forecast to reach 16.20% up from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $2.63 billion. 6 analysts are of the opinion that Alcoa Corporation’s revenue for the quarter ending Sep 2021 will be $2.71 billion. The company’s revenue for the corresponding quarters a year ago was $2.11 billion and $2.23 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 24.40%. The estimates for the next quarter sales put growth at 21.10%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 28.00%. The 2021 estimates are for Alcoa Corporation earnings to increase by 85.00%.
Alcoa Corporation is expected to release its next quarterly earnings report in July.
Alcoa Corporation (NYSE:AA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.96% of Alcoa Corporation shares while 79.96% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 80.74%. There are 79.96% institutions holding the Alcoa Corporation stock share, with Vanguard Group, Inc. (The) the top institutional holder. As of Dec 30, 2020, the company held 8.78% of the shares, roughly 16.36 million AA shares worth $377.19 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.47% or 13.93 million shares worth $320.98 million as of Dec 30, 2020.
Among Mutual Funds, the top two as of Dec 30, 2020 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 4.94 million shares estimated at $113.95 million under it, the former controlled 2.65% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.46% of the shares, roughly 4.58 million shares worth around $148.77 million.