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Alcoa (AA) Gains As Market Dips: What You Should Know
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Alcoa (AA - Free Report) closed the most recent trading day at $58.55, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.94%. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.
Heading into today, shares of the bauxite, alumina and aluminum products company had gained 22.56% over the past month, outpacing the Industrial Products sector's gain of 4.53% and the S&P 500's gain of 5.72% in that time.
Alcoa will be looking to display strength as it nears its next earnings release, which is expected to be January 19, 2022. The company is expected to report EPS of $1.73, up 565.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.19 billion, up 33.34% from the prior-year quarter.
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 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. Over the past month, the Zacks Consensus EPS estimate has moved 19.36% lower. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Alcoa is currently trading at a Forward P/E ratio of 10.52. This valuation marks a discount compared to its industry's average Forward P/E of 11.68.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% 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.
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Alcoa (AA) Gains As Market Dips: What You Should Know
Alcoa (AA - Free Report) closed the most recent trading day at $58.55, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.94%. At the same time, the Dow lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.
Heading into today, shares of the bauxite, alumina and aluminum products company had gained 22.56% over the past month, outpacing the Industrial Products sector's gain of 4.53% and the S&P 500's gain of 5.72% in that time.
Alcoa will be looking to display strength as it nears its next earnings release, which is expected to be January 19, 2022. The company is expected to report EPS of $1.73, up 565.38% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $3.19 billion, up 33.34% from the prior-year quarter.
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 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. Over the past month, the Zacks Consensus EPS estimate has moved 19.36% lower. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Alcoa is currently trading at a Forward P/E ratio of 10.52. This valuation marks a discount compared to its industry's average Forward P/E of 11.68.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 15, which puts it in the top 6% 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.