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Alcoa (AA) Dips More Than Broader Markets: What You Should Know
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Alcoa (AA - Free Report) closed the most recent trading day at $40.40, moving -1.32% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the bauxite, alumina and aluminum products company had gained 0.47% in the past month. In that same time, the Industrial Products sector gained 0.48%, while the S&P 500 gained 7.71%.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. This is expected to be April 19, 2023. The company is expected to report EPS of -$0.05, down 101.63% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 19.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.09 per share and revenue of $10.73 billion, which would represent changes of -56.73% and -13.82%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alcoa. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 13.35% lower. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alcoa has a Forward P/E ratio of 19.57 right now. This represents a premium compared to its industry's average Forward P/E of 11.42.
We can also see that AA currently has a PEG ratio of 6.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Metal Products - Distribution was holding an average PEG ratio of 6.48 at yesterday's closing price.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% 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) Dips More Than Broader Markets: What You Should Know
Alcoa (AA - Free Report) closed the most recent trading day at $40.40, moving -1.32% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the bauxite, alumina and aluminum products company had gained 0.47% in the past month. In that same time, the Industrial Products sector gained 0.48%, while the S&P 500 gained 7.71%.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. This is expected to be April 19, 2023. The company is expected to report EPS of -$0.05, down 101.63% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 19.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.09 per share and revenue of $10.73 billion, which would represent changes of -56.73% and -13.82%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alcoa. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 13.35% lower. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alcoa has a Forward P/E ratio of 19.57 right now. This represents a premium compared to its industry's average Forward P/E of 11.42.
We can also see that AA currently has a PEG ratio of 6.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Metal Products - Distribution was holding an average PEG ratio of 6.48 at yesterday's closing price.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% 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.