In the latest trading session, Alcoa (AA - Free Report) closed at $59.21, marking a -0.7% move from the previous day. This move lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.33%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had gained 36.2% over the past month. This has outpaced the Industrial Products sector's gain of 2.34% and the S&P 500's gain of 3.11% in that time.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. This is expected to be January 19, 2022. The company is expected to report EPS of $1.78, up 584.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.19 billion, up 33.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.33 per share and revenue of $12.11 billion. These totals would mark changes of +645.69% and +30.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Alcoa. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.91% lower within the past month. Alcoa currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Alcoa currently has a Forward P/E ratio of 9.42. Its industry sports an average Forward P/E of 8.8, so we one might conclude that Alcoa is trading at a premium comparatively.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
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In the latest trading session, Alcoa (AA - Free Report) closed at $59.21, marking a -0.7% move from the previous day. This move lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.33%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had gained 36.2% over the past month. This has outpaced the Industrial Products sector's gain of 2.34% and the S&P 500's gain of 3.11% in that time.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. This is expected to be January 19, 2022. The company is expected to report EPS of $1.78, up 584.62% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.19 billion, up 33.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $6.33 per share and revenue of $12.11 billion. These totals would mark changes of +645.69% and +30.38%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Alcoa. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.91% lower within the past month. Alcoa currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Alcoa currently has a Forward P/E ratio of 9.42. Its industry sports an average Forward P/E of 8.8, so we one might conclude that Alcoa is trading at a premium comparatively.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Zacks Naming Top 10 Stocks for 2024
Want to be tipped off early to our 10 top picks for the entirety of 2024?
History suggests their performance could be sensational.
From 2012 (when our Director of Research, Sheraz Mian assumed responsibility for the portfolio) through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Now Sheraz is combing through 4,400 companies to handpick the best 10 tickers to buy and hold in 2024. Don’t miss your chance to get in on these stocks when they’re released on January 2.
Be First to New Top 10 Stocks >>
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