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Alcoa (AA) Stock Moves -0.44%: What You Should Know
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Alcoa (AA - Free Report) closed at $38.84 in the latest trading session, marking a -0.44% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had lost 25.87% over the past month. This has lagged the Industrial Products sector's loss of 8.23% and the S&P 500's loss of 8.4% in that time.
Investors will be hoping for strength from Alcoa as it approaches its next earnings release, which is expected to be October 19, 2022. On that day, Alcoa is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 85.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.99 billion, down 3.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.04 per share and revenue of $12.86 billion, which would represent changes of -11.57% and +5.86%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Alcoa. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 16.9% lower. Alcoa is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Alcoa is holding a Forward P/E ratio of 6.46. This represents a premium compared to its industry's average Forward P/E of 6.38.
It is also worth noting that AA currently has a PEG ratio of 0.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Metal Products - Distribution was holding an average PEG ratio of 0.66 at yesterday's closing price.
The Metal Products - Distribution industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Alcoa (AA) Stock Moves -0.44%: What You Should Know
Alcoa (AA - Free Report) closed at $38.84 in the latest trading session, marking a -0.44% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.75%. Elsewhere, the Dow lost 0.32%, while the tech-heavy Nasdaq lost 0.07%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had lost 25.87% over the past month. This has lagged the Industrial Products sector's loss of 8.23% and the S&P 500's loss of 8.4% in that time.
Investors will be hoping for strength from Alcoa as it approaches its next earnings release, which is expected to be October 19, 2022. On that day, Alcoa is projected to report earnings of $0.29 per share, which would represent a year-over-year decline of 85.85%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.99 billion, down 3.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.04 per share and revenue of $12.86 billion, which would represent changes of -11.57% and +5.86%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Alcoa. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 16.9% lower. Alcoa is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Alcoa is holding a Forward P/E ratio of 6.46. This represents a premium compared to its industry's average Forward P/E of 6.38.
It is also worth noting that AA currently has a PEG ratio of 0.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Metal Products - Distribution was holding an average PEG ratio of 0.66 at yesterday's closing price.
The Metal Products - Distribution industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 11, putting it in the top 5% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.