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Alcoa (AA) closed at $44.07 in the latest trading session, marking a -1.67% move from the prior day. This change lagged the S&P 500's 0.85% loss on the day. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.05%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had lost 3.34% over the past month. This has lagged the Industrial Products sector's loss of 2.37% and the S&P 500's loss of 0.97% in that time.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. On that day, Alcoa is projected to report earnings of $2.50 per share, which would represent year-over-year growth of 861.54%. Our most recent consensus estimate is calling for quarterly revenue of $3.43 billion, up 43.43% from the year-ago period.
AA's full-year Zacks Consensus Estimates are calling for earnings of $6.59 per share and revenue of $12.33 billion. These results would represent year-over-year changes of +668.1% and +32.81%, respectively.
Investors might also notice recent changes to analyst estimates for Alcoa. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 3.73% lower. Alcoa currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alcoa has a Forward P/E ratio of 6.8 right now. This valuation marks a discount compared to its industry's average Forward P/E of 8.09.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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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