In the latest trading session, 1.31 million Alcoa Corp (NYSE:AA) shares changed hands as the company’s beta touched 2.46. With the company’s most recent per share price at $32.49 changing hands around $0.91 or 2.88% at last look, the market valuation stands at $5.83B. AA’s current price is a discount, trading about -32.19% off its 52-week high of $42.95. The share price had its 52-week low at $23.07, which suggests the last value was 28.99% up since then. When we look at Alcoa Corp’s average trading volume, we note the 10-day average is 6.32 million shares, with the 3-month average coming to 6.10 million.
Alcoa Corp (NYSE:AA) trade information
Instantly AA is in green as seen in intraday trades today. With action 3.64%, the performance over the past five days has been green. The jump to weekly highs of 32.74 added 2.88% to the stock’s daily price. The company’s shares are showing year-to-date downside of -4.44%, with the 5-day performance at 3.64% in the green. However, in the 30-day time frame, Alcoa Corp (NYSE:AA) is 21.69% up. Looking at the short shares, we see there were 11.84 million shares sold at short interest cover period of 2.07 days.
Alcoa Corp (AA) estimates and forecasts
Data shows that the Alcoa Corp 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 25.64% over the past 6 months, a 112.78% in annual growth rate that is considerably higher than the industry average of -17.20%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Alcoa Corp will fall -69.60%, while the growth in revenue is estimated to hit 117.10% for the next quarter. Year-over-year growth is forecast to reach 1.20% up from the last financial year.
Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $2.55 billion. 6 analysts are of the opinion that Alcoa Corp’s revenue for the quarter ending Jun 2024 will be $2.68 billion. The company’s revenue for the corresponding quarters a year ago was $2.73 billion and $2.69 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -6.40%. The estimates for the next quarter sales put growth at -0.60%. The 2024 estimates are for Alcoa Corp earnings to increase by 100.62%, but the outlook for the next 5-year period is at 44.30% per year.
AA Dividends
Alcoa Corp is expected to release its next quarterly earnings report on April 17. The 1.23% annual yield figure for the share gives it an annual dividend of 0.40. It is important to note, however, that the 1.23% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
Alcoa Corp (NYSE:AA)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.09% of Alcoa Corp shares while 85.81% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.75%. There are 85.81% institutions holding the Alcoa Corp stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 11.91% of the shares, roughly 21.25 million AA shares worth $721.12 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 10.06% or 17.95 million shares worth $609.07 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Sep 29, 2023 were iShares Core S&P Midcap ETF and Vanguard Total Stock Market Index Fund. With 5.58 million shares estimated at $162.19 million under it, the former controlled 3.13% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.12% of the shares, roughly 5.57 million shares worth around $189.11 million.
