In today’s recent session, 2.03 million shares of the Alcoa Corporation (NYSE:AA) have been traded, and its beta is 2.41. Most recently the company’s share price was $50.63, and it changed around $1.61 or 3.28% from the last close, which brings the market valuation of the company to $9.19B. AA at last check was trading at a discount to its 52-week high of $57.57, offering almost -13.71% off that amount. The share price’s 52-week low was $17.30, which indicates that the recent value has risen by an impressive 65.83% since then. We note from Alcoa Corporation’s average daily trading volume that its 3-month average coming to 8.09 million.
Alcoa Corporation stock received a consensus recommendation rating of a Buy, based on a mean score of 2.20. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended AA as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Alcoa Corporation is expected to report earnings per share of $2.16 for the current quarter.
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Instantly AA has been showing a green trend so far today with a performance of 3.28% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 50.21 on Tuesday, 11/23/21 decreased the stock’s daily price by -0.84%. The company’s shares are currently up 112.67% year-to-date, but still up 1.70% over the last five days. On the other hand, Alcoa Corporation (NYSE:AA) is -4.20% up in the 30-day period.
The consensus price target as assigned by Wall Street analysts is $59.52, which translates to bulls needing to increase their stock price by 14.94% from its current value. Analyst projections state that AA is forecast to be at a low of $52.00 and a high of $66.00. In order for the stock price to hit the forecast high, the stock would need to plunge -30.36% from its current level, while the stock would need to crash -2.71% from its current level to reach the projected low.
Alcoa Corporation (AA) estimates and forecasts
Alcoa Corporation 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 34.12 percent over the past six months and at a 675.86% annual growth rate that is well above the industry average of 25.30%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 730.80% in revenue this quarter, and will report an increase of 139.20% in the next quarter. The year-over-year growth rate is expected to be 32.00%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $3.38 billion in revenue for the current quarter. 3 analysts expect Alcoa Corporation to make $3.2 billion in revenue for the quarter ending Mar 2022. The company’s sales for the same quarters a year ago were $2.39 billion and $2.65 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 41.50%. Forecasts for the next quarter put sales growth at 20.90%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 28.00%.
Alcoa Corporation’s next quarterly earnings report is expected to be released around January 18 and January 24. The annual dividend yield of the stock is 0.82 percent and its annual dividend per share was 0.40. It is important to note, however, that the 0.82% 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 1.58% of Alcoa Corporation shares, and 77.46% of them are in the hands of institutional investors. The stock currently has a share float of 78.70%. Alcoa Corporation stock is held by 619 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2021, it held 8.93% of the shares, which is about 16.71 million shares worth $817.89 million.
Blackrock Inc., with 4.51% or 8.45 million shares worth $413.3 million as of Sep 29, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Jun 29, 2021. The former held 4.89 million shares worth $180.03 million, making up 2.61% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 4.31 million shares worth around $158.62 million, which represents about 2.30% of the total shares outstanding.