Alcoa (AA - Free Report) closed the most recent trading day at $42.06, moving -0.17% from the previous trading session. This move lagged the S&P 500's daily gain of 0.22%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had gained 10.09% over the past month. This has outpaced the Industrial Products sector's gain of 2.84% and the S&P 500's gain of 1.86% in that time.
Investors will be hoping for strength from AA as it approaches its next earnings release. The company is expected to report EPS of $1.38, up 217.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.8 billion, up 18.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.89 per share and revenue of $11.34 billion, which would represent changes of +521.55% and +22.15%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AA is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AA is currently trading at a Forward P/E ratio of 8.62. This represents a discount compared to its industry's average Forward P/E of 9.79.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
To follow AA in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Alcoa (AA - Free Report) closed the most recent trading day at $42.06, moving -0.17% from the previous trading session. This move lagged the S&P 500's daily gain of 0.22%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had gained 10.09% over the past month. This has outpaced the Industrial Products sector's gain of 2.84% and the S&P 500's gain of 1.86% in that time.
Investors will be hoping for strength from AA as it approaches its next earnings release. The company is expected to report EPS of $1.38, up 217.95% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.8 billion, up 18.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.89 per share and revenue of $11.34 billion, which would represent changes of +521.55% and +22.15%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for AA. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. AA is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, AA is currently trading at a Forward P/E ratio of 8.62. This represents a discount compared to its industry's average Forward P/E of 9.79.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% 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.
To follow AA in the coming trading sessions, be sure to utilize Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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