What is B. Riley’s Forecast for Alcoa FY2024 Earnings?

Alcoa Co. (NYSE:AA) – Analysts at B. Riley upped their FY2024 earnings per share estimates for Alcoa in a report released on Tuesday, January 21st. B. Riley analyst L. Pipes now expects that the industrial products company will earn $0.71 per share for the year, up from their prior forecast of $0.64. B. Riley has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for Alcoa’s current full-year earnings is $0.94 per share. B. Riley also issued estimates for Alcoa’s Q4 2024 earnings at $0.79 EPS, FY2025 earnings at $2.85 EPS and FY2026 earnings at $2.49 EPS.

Other equities analysts have also recently issued research reports about the stock. UBS Group increased their price objective on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, October 15th. JPMorgan Chase & Co. upped their target price on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. BMO Capital Markets upped their target price on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Morgan Stanley upped their target price on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.36.

Alcoa Trading Up 0.4 %

Shares of AA opened at $38.78 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.41 and a debt-to-equity ratio of 0.47. The firm’s fifty day simple moving average is $40.54 and its two-hundred day simple moving average is $37.70. Alcoa has a 12 month low of $24.86 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a negative net margin of 2.65% and a negative return on equity of 1.45%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. YHB Investment Advisors Inc. lifted its holdings in shares of Alcoa by 3.6% during the 4th quarter. YHB Investment Advisors Inc. now owns 12,810 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 447 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Alcoa by 2.2% during the 4th quarter. Pacer Advisors Inc. now owns 38,516 shares of the industrial products company’s stock worth $1,455,000 after acquiring an additional 817 shares during the last quarter. KBC Group NV lifted its holdings in shares of Alcoa by 70.3% during the 4th quarter. KBC Group NV now owns 11,135 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 4,598 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Alcoa during the 4th quarter worth $454,000. Finally, Blue Trust Inc. lifted its holdings in shares of Alcoa by 37.3% during the 4th quarter. Blue Trust Inc. now owns 4,423 shares of the industrial products company’s stock worth $171,000 after acquiring an additional 1,201 shares during the last quarter.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.