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Alcoa Corporation (NYSE: AA): It Is A Stock Worth Considering Today

In today’s recent session, 0.82 million shares of the Alcoa Corporation (NYSE:AA) have been traded, and its beta is 2.43. Most recently the company’s share price was $34.46, and it changed around -$1.21 or -3.39% from the last close, which brings the market valuation of the company to $6.49B. AA at last check was trading at a discount to its 52-week high of $67.52, offering almost -95.94% off that amount. The share price’s 52-week low was $33.55, which indicates that the recent value has risen by an impressive 2.64% since then. We note from Alcoa Corporation’s average daily trading volume that its 10-day average is 3.26 million shares, with the 3-month average coming to 4.72 million.

Alcoa Corporation (NYSE:AA) trade information

Instantly AA has been showing red trend so far today with a performance of -3.39% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 37.15 on Tuesday, 05/23/23 increased the stock’s daily price by 7.24%. The company’s shares are currently down -24.21% year-to-date, but still down -6.21% over the last five days. On the other hand, Alcoa Corporation (NYSE:AA) is -3.61% down in the 30-day period. We can see from the shorts that 5.81 million shares have been sold at a short interest cover period of 1.25 day(s).

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The consensus price target as assigned by Wall Street analysts is $49.63, which translates to bulls needing to increase their stock price by 30.57% from its current value. Analyst projections state that AA is forecast to be at a low of $37.00 and a high of $65.00. In order for the stock price to hit the forecast high, the stock would need to plunge -88.62% from its current level, while the stock would need to crash -7.37% from its current level to reach the projected low.

Alcoa Corporation (AA) estimates and forecasts

Alcoa Corporation share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -26.10 percent over the past six months and at a -83.64% annual growth rate that is well below the industry average of -22.00%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -100.40% in revenue this quarter, and will report an increase of 251.50% in the next quarter. The year-over-year growth rate is expected to be -10.70%, down from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $2.76 billion in revenue for the current quarter. 6 analysts expect Alcoa Corporation to make $2.86 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $3.64 billion and $2.96 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -24.30%. Forecasts for the next quarter put sales growth at -3.20%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.70%. Alcoa Corporation earnings are expected to increase by -130.10% in 2023, but the outlook is positive 12.30% per year for the next five years.

AA Dividends

Alcoa Corporation’s next quarterly earnings report is expected to be released around July 18 and July 24. The annual dividend yield of the stock is 1.12 percent and its annual dividend per share was 0.40. It is important to note, however, that the 1.12% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Alcoa Corporation (NYSE:AA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.62% of Alcoa Corporation shares, and 84.88% of them are in the hands of institutional investors. The stock currently has a share float of 85.41%. Alcoa Corporation stock is held by 734 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2023, it held 12.33% of the shares, which is about 22.0 million shares worth $763.94 million.

Vanguard Group, Inc. (The), with 10.13% or 18.08 million shares worth $627.77 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Feb 27, 2023. The former held 5.51 million shares worth $191.31 million, making up 3.09% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 5.38 million shares worth around $186.62 million, which represents about 3.01% of the total shares outstanding.

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