In last trading session, Alcoa Corp (NYSE:AA) saw 4.3 million shares changing hands with its beta currently measuring 2.46. Company’s recent per share price level of $31.40 trading at $0.05 or 0.16% at ring of the bell on the day assigns it a market valuation of $5.64B. That closing price of AA’s stock is at a discount of -36.78% from its 52-week high price of $42.95 and is indicating a premium of 26.53% from its 52-week low price of $23.07. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.93 million shares which gives us an average trading volume of 6.21 million if we extend that period to 3-months.
Alcoa Corp (NYSE:AA) trade information
Upright in the green during last session for gaining 0.16%, in the last five days AA remained trading in the green while hitting it’s week-highest on Thursday, 03/21/24 when the stock touched $31.40 price level, adding 2.27% to its value on the day. Alcoa Corp’s shares saw a change of -7.65% in year-to-date performance and have moved 3.15% in past 5-day. Alcoa Corp (NYSE:AA) showed a performance of 13.15% in past 30-days. Number of shares sold short was 11.84 million shares which calculate 2.07 days to cover the short interests.
Alcoa Corp (AA) estimates and forecasts
Statistics highlight that Alcoa Corp is scoring comparatively higher than the scores of other players of the relevant industry. The company added 12.67% of value to its shares in past 6 months, showing an annual growth rate of 112.78% while that of industry is -17.20. Apart from that, the company came raising its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -69.60% in the current quarter and calculating 117.10% increase in the next quarter. This year revenue growth is estimated to rise 1.20% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $2.55 billion for the same. And 6 analysts are in estimates of company making revenue of $2.68 billion in the next quarter that will end on Jun 2024. Company posted $2.73 billion and $2.69 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -6.40% while estimating it to be -0.60% for the next quarter.
In 2024, company’s earnings growth rate is likely to be around 102.51% while estimates for its earnings growth in next 5 years are of 44.30%.
AA Dividends
Alcoa Corp is more likely to be releasing its next quarterly report between April 17 and April 22 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Alcoa Corp (NYSE:AA)’s Major holders
Insiders are in possession of 0.75% of company’s total shares while institution are holding 85.83 percent of that, with stock having share float percentage of 86.48%. Investors also watch the number of corporate investors in a company very closely, which is 85.83% institutions for Alcoa Corp that are currently holding shares of the company. Blackrock Inc. is the top institutional holder at AA for having 21.25 million shares of worth $721.12 million. And as of Jun 29, 2023, it was holding 11.91% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 17.95 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 10.06% of outstanding shares, having a total worth of $609.07 million.
On the other hand, iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Sep 29, 2023, the former fund manager was holding 5.58 million shares of worth $162.19 million or 3.13% of the total outstanding shares. The later fund manager was in possession of 5.57 million shares on Jun 29, 2023, making its stake of worth around $189.11 million in the company or a holder of 3.12% of company’s stock.
