Alcoa (NYSE:AA) Releases Q2 2020 Pre-Market Earnings Guidance

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Alcoa (NYSE:AA) updated its second quarter 2020
Pre-Market earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of -0.08-0.00 for the period, compared to the Thomson Reuters consensus estimate of $-0.54. The company issued revenue guidance of $2.1-2.175 billion, compared to the consensus revenue estimate of $2.09 billion.Alcoa also updated its Q2 guidance to (0.08)-0.00 EPS.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Alcoa from a hold rating to a buy rating and set a $13.00 price target for the company in a research note on Wednesday, June 17th. B. Riley reaffirmed a hold rating and issued a $8.00 price target on shares of Alcoa in a research note on Wednesday, June 3rd. Morgan Stanley increased their price objective on Alcoa from $8.50 to $11.70 and gave the stock an equal weight rating in a research note on Tuesday, June 23rd. Credit Suisse Group boosted their target price on shares of Alcoa from $13.00 to $15.00 and gave the company an outperform rating in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Alcoa from $14.00 to $12.00 and set an overweight rating for the company in a research report on Thursday, April 23rd. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Alcoa presently has an average rating of Hold and an average target price of $15.25.

Alcoa stock opened at $10.52 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.50 and a debt-to-equity ratio of 0.31. The stock has a market cap of $2.06 billion, a PE ratio of -2.31 and a beta of 2.19. Alcoa has a 12-month low of $5.16 and a 12-month high of $24.63. The business’s 50-day moving average price is $10.75 and its two-hundred day moving average price is $12.03.

Alcoa (NYSE:AA) last posted its earnings results on Wednesday, April 22nd. The industrial products company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.06. Alcoa had a negative return on equity of 2.93% and a negative net margin of 8.38%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the company earned ($0.23) earnings per share. The business’s quarterly revenue was down 12.4% on a year-over-year basis. As a group, analysts expect that Alcoa will post -1.27 earnings per share for the current year.

Alcoa Company Profile

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Earnings History and Estimates for Alcoa (NYSE:AA)

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