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An Analysis Of Alcoa Corporation (AA) Stock

Alcoa Corporation (NYSE:AA) has a beta value of 2.47 and has seen 5.56 million shares traded in the last trading session. The company, currently valued at $9.08B, closed the last trade at $52.87 per share which meant it gained $1.12 on the day or 2.16% during that session. The AA stock price is -85.53% off its 52-week high price of $98.09 and 36.54% above the 52-week low of $33.55. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.45 million shares traded. The 3-month trading volume is 5.35 million shares.

The consensus among analysts is that Alcoa Corporation (AA) is an Overweight stock at the moment, with a recommendation rating of 2.40. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 9 out of 14 have rated it as a Hold, with 5 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.63.

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Alcoa Corporation (NYSE:AA) trade information

Sporting 2.16% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the AA stock price touched $52.87 or saw a rise of 8.23%. Year-to-date, Alcoa Corporation shares have moved 16.27%, while the 5-day performance has seen it change -3.63%. Over the past 30 days, the shares of Alcoa Corporation (NYSE:AA) have changed 17.83%. Short interest in the company has seen 8.14 million shares shorted with days to cover at 0.91.

Wall Street analysts have a consensus price target for the stock at $52.55, which means that the shares’ value could drop -0.61% from current levels. The projected low price target is $42.00 while the price target rests at a high of $65.00. In that case, then, we find that the current price level is -22.94% off the targeted high while a plunge would see the stock lose 20.56% from current levels.

Alcoa Corporation (AA) estimates and forecasts

Figures show that Alcoa Corporation shares have underperformed across the wider relevant industry. The company’s shares have gained 12.97% over the past 6 months, with this year growth rate of -47.00%, compared to 12.00% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -125.20% and -86.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be 3.40%.

7 analysts offering their estimates for the company have set an average revenue estimate of $2.64 billion for the current quarter. 4 have an estimated revenue figure of $2.81 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $3.34 billion and $3.45 billion respectively for this quarter and the next, and analysts expect sales will shrink by -20.90% for the current quarter and -18.40% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 24.80% over the past 5 years. Earnings growth for 2023 is a modest 347.00% while over the next 5 years, the company’s earnings are expected to increase by 12.30%.

AA Dividends

Alcoa Corporation is expected to release its next earnings report between April 18 and April 24 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.40 at a share yield of 0.76%. The company’s dividend yield has gone up over the past 12 months.

Alcoa Corporation (NYSE:AA)’s Major holders

Insiders own 0.90% of the company shares, while shares held by institutions stand at 86.99% with a share float percentage of 87.78%. Investors are also buoyed by the number of investors in a company, with Alcoa Corporation having a total of 714 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 22.33 million shares worth more than $1.02 billion. As of Jun 29, 2022, Blackrock Inc. held 12.41% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 18.15 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $827.29 million and represent 10.09% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Core S&P Midcap ETF. As of Jun 29, 2022, the former fund manager holds about 3.02% shares in the company for having 5.43 million shares of worth $247.34 million while later fund manager owns 5.23 million shares of worth $176.12 million as of Sep 29, 2022, which makes it owner of about 2.91% of company’s outstanding stock.

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