Alcoa (AA) Outperforms Broader Market: What You Need to Know
In the latest market close, Alcoa (AA) reached $26.86, with a +1.59% movement compared to the previous day. The stock exceeded the S&P 500, which registered a gain of 0.38% for the day. On the other hand, the Dow registered a gain of 1.47%, and the technology-centric Nasdaq decreased by 0.23%.
The bauxite, alumina and aluminum products company's shares have seen an increase of 5.63% over the last month, not keeping up with the Industrial Products sector's gain of 8.45% and the S&P 500's gain of 10.72%.
Analysts and investors alike will be keeping a close eye on the performance of Alcoa in its upcoming earnings disclosure. On that day, Alcoa is projected to report earnings of -$0.82 per share, which would represent a year-over-year decline of 17.14%. Alongside, our most recent consensus estimate is anticipating revenue of $2.62 billion, indicating a 1.66% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of -$2.39 per share and a revenue of $10.67 billion, demonstrating changes of -149.48% and -14.3%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Alcoa. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.42% higher. Currently, Alcoa is carrying a Zacks Rank of #4 (Sell).
The Metal Products - Distribution industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 240, this industry ranks in the bottom 5% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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) : Free Stock Analysis Report
