Wall Street analysts expect Alcoa (AA Quick QuoteAA - Free Report) to post quarterly earnings of $2.41 per share in its upcoming report, which indicates a year-over-year increase of 518%. Revenues are expected to be $3.93 billion, up 30.2% from the year-ago quarter.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 14% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

That said, let's delve into the average estimates of some Alcoa metrics that Wall Street analysts commonly model and monitor.

The consensus among analysts is that 'Total sales- Aluminum' will reach $3.34 billion. The estimate indicates a change of +70.4% from the prior-year quarter.

Analysts' assessment points toward 'Total sales- Alumina' reaching $975.67 million. The estimate indicates a change of -35.7% from the prior-year quarter.

The combined assessment of analysts suggests that 'Third-party sales- Aluminum' will likely reach $3.40 billion. The estimate indicates a year-over-year change of +73.8%.

Analysts forecast 'Third-party sales- Alumina' to reach $489.67 million. The estimate indicates a change of -41.9% from the prior-year quarter.

It is projected by analysts that the 'Average realized third-party price per metric ton of alumina' will reach $319.06 . Compared to the present estimate, the company reported $378.00 in the same quarter last year.

Based on the collective assessment of analysts, 'Average realized third-party price per metric ton of aluminum' should arrive at $5009.54 . The estimate compares to the year-ago value of $3143.00 .

The consensus estimate for 'Average cost per metric ton of aluminum shipped' stands at $2578.81 . Compared to the present estimate, the company reported $2718.00 in the same quarter last year.

Analysts expect 'Third-party alumina shipments in Tons' to come in at 1569 thousands metric tons. The estimate compares to the year-ago value of 2195 thousands metric tons.

The average prediction of analysts places 'Alumina production in Tons' at 2351 thousands metric tons. Compared to the present estimate, the company reported 2351 thousands metric tons in the same quarter last year.

The collective assessment of analysts points to an estimated 'Aluminum production in Tons' of 619 thousands metric tons. Compared to the present estimate, the company reported 572 thousands metric tons in the same quarter last year.

According to the collective judgment of analysts, 'Bauxite production in Tons' should come in at 9 millions of metric ton. Compared to the current estimate, the company reported 9 millions of metric ton in the same quarter of the previous year.

Analysts predict that the 'Intersegment Alumina Shipments' will reach 1241 thousands metric tons. Compared to the present estimate, the company reported 1089 thousands metric tons in the same quarter last year.

Over the past month, shares of Alcoa have returned -29.2% versus the Zacks S&P 500 composite's +4.3% change. Currently, AA carries a Zacks Rank #5 (Strong Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .