Stock Performance And Outlook Of Alcoa Corp (NYSE: AA)

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In the last trading session, 4.44 million shares of the Alcoa Corp (NYSE:AA) were traded, and its beta was 2.47. Most recently the company’s share price was $34.02, and it changed around $0.23 or 0.68% from the last close, which brings the market valuation of the company to $6.11B. AA currently trades at a discount to its 52-week high of $42.95, offering almost -26.25% off that amount. The share price’s 52-week low was $23.07, which indicates that the current value has risen by an impressive 32.19% since then. We note from Alcoa Corp’s average daily trading volume that its 10-day average is 6.34 million shares, with the 3-month average coming to 6.14 million.

Alcoa Corp stock received a consensus recommendation rating of Buy, based on a mean score of 3.14. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 5 recommended AA as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Alcoa Corp is expected to report earnings per share of -$0.46 for the current quarter.

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Alcoa Corp (NYSE:AA) trade information

Instantly AA has showed a green trend with a performance of 0.68% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 0.06% year-to-date, but still up 8.34% over the last five days. On the other hand, Alcoa Corp (NYSE:AA) is 25.03% up in the 30-day period. We can see from the shorts that 13.18 million shares have been sold at a short interest cover period of 2.14 day(s).

The consensus price target as assigned by Wall Street analysts is $65.11, which translates to bulls needing to increase their stock price by 47.75% from its current value. Analyst projections state that AA is forecast to be at a low of $28 and a high of $95.

Alcoa Corp (AA) estimates and forecasts

Alcoa Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 20.90 percent over the past six months and at a 112.78% annual growth rate that is well above the industry average of -17.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -100.00% in revenue this quarter, and will report an increase of 117.10% in the next quarter. The year-over-year growth rate is expected to be 1.40%, up from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $2.55 billion in revenue for the current quarter. 6 analysts expect Alcoa Corp to make $2.68 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $2.73 billion and $2.69 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -6.40%. Forecasts for the next quarter put sales growth at -0.60%.

Alcoa Corp earnings are expected to increase by 100.26% in 2024, but the outlook is positive 44.30% per year for the next five years.

AA Dividends

Alcoa Corp’s next quarterly earnings report is expected to be released around April 17 and April 22. The annual dividend yield of the stock is 1.18 percent and its annual dividend per share was 0.40. It is important to note, however, that the 1.18% 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 Corp (NYSE:AA)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 1.09% of Alcoa Corp shares, and 85.89% of them are in the hands of institutional investors. The stock currently has a share float of 86.83%. Alcoa Corp stock is held by 622 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 11.91% of the shares, which is about 21.25 million shares worth $721.12 million.

Vanguard Group Inc, with 10.06% or 17.95 million shares worth $609.07 million as of Jun 29, 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 Sep 29, 2023. The former held 5.58 million shares worth $162.19 million, making up 3.13% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 5.57 million shares worth around $189.11 million, which represents about 3.12% of the total shares outstanding.