Alcoa Corporation (NYSE:AA) is reporting third quarter financial results on Wednesday 14th October 2020, after market close.
According to analysts surveyed by Thomson Reuters, AA is expected to report 3Q20 loss of $ 1.38 per share from revenue of $ 2233.26 million.
For the full year, analysts anticipate top line of $ 9439.83 million, while looking forward to loss of $ 1.43 per share bottom line.
Previous Quarter Performance
Alcoa Corporation recorded loss for the second quarter of $ 0.02 per share, from the revenue of $ 2,148.00 million. The quarterly revenues declined 20.77 percent compared with the same quarter last year. Wall street analysts are predicting, AA to report 2Q20 loss of $ 0.45 per share from revenue of $ 2112.83 million. The bottom line results beat street analysts by $ 0.43 or 95.56 percent, at the same time, top line results outshined analysts by $ 35.17 million or 1.66 percent.
Stock Performance
Shares of Alcoa Corporation traded up $ 0.13 or 1.03 percent on Tuesday, reaching $ 12.72 with volume of 5.86 million shares. Alcoa Corporation has traded high as $ 12.83 and has cracked $ 12.36 on the downward trend
According to the previous trading day, closing price of $ 12.72, representing a 143.99 % increase from the 52 week low of $ 5.16 and a 46.36 % decrease over the 52 week high of $ 23.47.
The company has a market capital of $ 2.36 billion and is part of the Basic Materials sector and Aluminum industry.
Recent Analyst recommendations
- On 24th September 2020, maintained by Morgan Stanley at Equal-Weight rating, with $ 14.00 target price.
- On 16th September 2020, maintained by Credit Suisse Group at Outperform rating, with $ 18.00 target price.
- On 8th September 2020, upgraded by Bank of America to Buy from Neutral rating, with $ 17.00 target price.
Conference Call
Alcoa Corporation will be hosting a conference call at 5:00 PM eastern time on 14th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.alcoa.com
Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
