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500.0 | 2023-05-08 00:00:00 UTC | JP Morgan Initiates Coverage of Alcoa (AA) with Overweight Recommendation | AA | https://www.nasdaq.com/articles/jp-morgan-initiates-coverage-of-alcoa-aa-with-overweight-recommendation | Fintel reports that on May 8, 2023, JP Morgan initiated coverage of Alcoa (NYSE:AA) with a Overweight recommendation.
Analyst Price Forecast Suggests 45.70% Upside
As of April 24, 2023, the average one-year price target for Alcoa is 52.67. The forecasts range from a low of 40.40 to a high of $68.25. The average price target represents an increase of 45.70% from its latest reported closing price of 36.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is 12,227MM, an increase of 3.37%. The projected annual non-GAAP EPS is 3.60.
Alcoa Declares $0.10 Dividend
On May 4, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of May 16, 2023 will receive the payment on June 2, 2023. Previously, the company paid $0.10 per share.
At the current share price of $36.15 / share, the stock's dividend yield is 1.11%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.43 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 1044 funds or institutions reporting positions in Alcoa. This is an increase of 2 owner(s) or 0.19% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. Total shares owned by institutions increased in the last three months by 7.74% to 171,300K shares.
The put/call ratio of AA is 1.15, indicating a bearish outlook.
What are Other Shareholders Doing?
Bank of New York Mellon holds 5,974K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 6,107K shares, representing a decrease of 2.23%. The firm increased its portfolio allocation in AA by 24.32% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,464K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 5,258K shares, representing an increase of 3.77%. The firm increased its portfolio allocation in AA by 22.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,375K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 5,357K shares, representing an increase of 0.34%. The firm increased its portfolio allocation in AA by 25.18% over the last quarter.
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main holds 4,578K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 95K shares, representing an increase of 97.93%. The firm increased its portfolio allocation in AA by 5,918.07% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,558K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,568K shares, representing a decrease of 0.21%. The firm increased its portfolio allocation in AA by 24.79% over the last quarter.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
See all Alcoa regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on May 8, 2023, JP Morgan initiated coverage of Alcoa (NYSE:AA) with a Overweight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. | Fintel reports that on May 8, 2023, JP Morgan initiated coverage of Alcoa (NYSE:AA) with a Overweight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. | Fintel reports that on May 8, 2023, JP Morgan initiated coverage of Alcoa (NYSE:AA) with a Overweight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. | Fintel reports that on May 8, 2023, JP Morgan initiated coverage of Alcoa (NYSE:AA) with a Overweight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. |
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501.0 | 2023-05-06 00:00:00 UTC | Alcoa (AA) Declares $0.10 Dividend | AA | https://www.nasdaq.com/articles/alcoa-aa-declares-%240.10-dividend | Alcoa said on May 4, 2023 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Previously, the company paid $0.10 per share.
Shares must be purchased before the ex-div date of May 15, 2023 to qualify for the dividend. Shareholders of record as of May 16, 2023 will receive the payment on June 2, 2023.
At the current share price of $36.15 / share, the stock's dividend yield is 1.11%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.43 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
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What is the Fund Sentiment?
There are 1044 funds or institutions reporting positions in Alcoa. This is an increase of 2 owner(s) or 0.19% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. Total shares owned by institutions increased in the last three months by 7.74% to 171,300K shares.
The put/call ratio of AA is 1.15, indicating a bearish outlook.
Analyst Price Forecast Suggests 45.70% Upside
As of April 24, 2023, the average one-year price target for Alcoa is 52.67. The forecasts range from a low of 40.40 to a high of $68.25. The average price target represents an increase of 45.70% from its latest reported closing price of 36.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is 12,227MM, an increase of 3.37%. The projected annual non-GAAP EPS is 3.60.
What are Other Shareholders Doing?
Bank of New York Mellon holds 5,974K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 6,107K shares, representing a decrease of 2.23%. The firm increased its portfolio allocation in AA by 24.32% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,464K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 5,258K shares, representing an increase of 3.77%. The firm increased its portfolio allocation in AA by 22.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,375K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 5,357K shares, representing an increase of 0.34%. The firm increased its portfolio allocation in AA by 25.18% over the last quarter.
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main holds 4,578K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 95K shares, representing an increase of 97.93%. The firm increased its portfolio allocation in AA by 5,918.07% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,558K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,568K shares, representing a decrease of 0.21%. The firm increased its portfolio allocation in AA by 24.79% over the last quarter.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. The put/call ratio of AA is 1.15, indicating a bearish outlook. The projected annual non-GAAP EPS is 3.60. | Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. The put/call ratio of AA is 1.15, indicating a bearish outlook. The projected annual non-GAAP EPS is 3.60. | Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. The put/call ratio of AA is 1.15, indicating a bearish outlook. The projected annual non-GAAP EPS is 3.60. | Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.64%. The put/call ratio of AA is 1.15, indicating a bearish outlook. The projected annual non-GAAP EPS is 3.60. |
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502.0 | 2023-05-05 00:00:00 UTC | Why Arconic Stock Zoomed This Week | AA | https://www.nasdaq.com/articles/why-arconic-stock-zoomed-this-week | What happened
Shares of Arconic (NYSE: ARNC) rocketed this week and were trading up 16.9% for the week as of 9:40 a.m. ET Friday, according to data provided by S&P Global Market Intelligence.
The aluminum company, which primarily serves the aerospace and automotive industries, just announced its quarterly numbers, but that has nothing to do with the stock's meteoric rise. The reason behind Arconic's jump is much bigger, and it will affect every investor in the company.
So what
Arconic announced Thursday that it has agreed to be taken private by alternative asset manager Apollo Global Management. As is typically the case, the stock shot up close to the levels at which the deal was struck -- $30 a share. It's an all-cash deal, so every Arconic investor will receive $30 per share in cash when the deal closes, which is expected to be sometime later this year.
Since the deal represented a significant premium to Arconic stock's Wednesday closing price of $22.55 per share, the stock shot up almost 29% by Thursday's closing. It clocked a day's high of $28.93 per share.
Investors in Arconic have seen a lot of volatility in recent years. Arconic was spun off from aluminum giant Alcoa in 2016. Arconic itself then split into two in 2020 and spun off its components and parts businesses into a newly publicly listed company, Howmet Aerospace.
Yet the volatility in commodity prices throttled Arconic's growth, and it struggled to make money. Just this week, Arconic reported a 12% year-over-year drop in sales and a 40% drop in net income for its first quarter. In 2022, Arconic reported a net loss of $182 million, although its revenue rose 19% to $9 billion.
Now what
To be sure, this deal shouldn't have come as a surprise. Arconic has been a potential takeover target for several years now, with Apollo emerging as the front-running suitor. In fact, The Wall Street Journal even reported that Apollo had submitted a buyout offer for Arconic in March of this year.
As it turns out, this time, it was more than just a rumor or speculation, and Arconic is indeed selling itself. Investors who bought Arconic shares in 2020 after it became a stand-alone company have made a lot of money, and this week's gains have only added to their returns.
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Neha Chamaria has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The aluminum company, which primarily serves the aerospace and automotive industries, just announced its quarterly numbers, but that has nothing to do with the stock's meteoric rise. In fact, The Wall Street Journal even reported that Apollo had submitted a buyout offer for Arconic in March of this year. Investors who bought Arconic shares in 2020 after it became a stand-alone company have made a lot of money, and this week's gains have only added to their returns. | So what Arconic announced Thursday that it has agreed to be taken private by alternative asset manager Apollo Global Management. Since the deal represented a significant premium to Arconic stock's Wednesday closing price of $22.55 per share, the stock shot up almost 29% by Thursday's closing. See the 10 stocks *Stock Advisor returns as of May 1, 2023 Neha Chamaria has no position in any of the stocks mentioned. | Since the deal represented a significant premium to Arconic stock's Wednesday closing price of $22.55 per share, the stock shot up almost 29% by Thursday's closing. 10 stocks we like better than Arconic When our analyst team has a stock tip, it can pay to listen. See the 10 stocks *Stock Advisor returns as of May 1, 2023 Neha Chamaria has no position in any of the stocks mentioned. | Investors in Arconic have seen a lot of volatility in recent years. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market. See the 10 stocks *Stock Advisor returns as of May 1, 2023 Neha Chamaria has no position in any of the stocks mentioned. |
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503.0 | 2023-05-04 00:00:00 UTC | Guru Fundamental Report for AA | AA | https://www.nasdaq.com/articles/guru-fundamental-report-for-aa-2 | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Price/Sales Investor model based on the published strategy of Kenneth Fisher. This value strategy rewards stocks with low P/S ratios, long-term profit growth, strong free cash flow and consistent profit margins.
ALCOA CORP (AA) is a mid-cap value stock in the Metal Mining industry. The rating using this strategy is 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
PRICE/SALES RATIO: PASS
TOTAL DEBT/EQUITY RATIO: PASS
PRICE/RESEARCH RATIO: PASS
PRICE/SALES RATIO: PASS
LONG-TERM EPS GROWTH RATE: FAIL
FREE CASH PER SHARE: PASS
THREE YEAR AVERAGE NET PROFIT MARGIN: FAIL
Detailed Analysis of ALCOA CORP
AA Guru Analysis
AA Fundamental Analysis
More Information on Kenneth Fisher
Kenneth Fisher Portfolio
About Kenneth Fisher: The son of Philip Fisher, who is considered the "Father of Growth Investing", Kenneth Fisher is a money manager, bestselling author, and longtime Forbes columnist. The younger Fisher wowed Wall Street in the mid-1980s when his book Super Stocks first popularized the idea of using the price/sales ratio (PSR) as a means of identifying attractive stocks. According to his alma mater, Humboldt State University, Fisher is also one of the world's foremost experts on 19th century logging. Appropriately, Fisher's firm, Fisher Investments, is located in a lush forest preserve in Woodside, California, where the contrarian-minded Fisher says he and his employees can get away from Wall Street groupthink.
Additional Research Links
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ALCOA CORP (AA) is a mid-cap value stock in the Metal Mining industry. Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Price/Sales Investor model based on the published strategy of Kenneth Fisher. | Below is Validea's guru fundamental report for ALCOA CORP (AA). Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Kenneth Fisher Kenneth Fisher Portfolio About Kenneth Fisher: The son of Philip Fisher, who is considered the "Father of Growth Investing", Kenneth Fisher is a money manager, bestselling author, and longtime Forbes columnist. Of the 22 guru strategies we follow, AA rates highest using our Price/Sales Investor model based on the published strategy of Kenneth Fisher. | Of the 22 guru strategies we follow, AA rates highest using our Price/Sales Investor model based on the published strategy of Kenneth Fisher. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Kenneth Fisher Kenneth Fisher Portfolio About Kenneth Fisher: The son of Philip Fisher, who is considered the "Father of Growth Investing", Kenneth Fisher is a money manager, bestselling author, and longtime Forbes columnist. Below is Validea's guru fundamental report for ALCOA CORP (AA). | Below is Validea's guru fundamental report for ALCOA CORP (AA). Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Kenneth Fisher Kenneth Fisher Portfolio About Kenneth Fisher: The son of Philip Fisher, who is considered the "Father of Growth Investing", Kenneth Fisher is a money manager, bestselling author, and longtime Forbes columnist. Of the 22 guru strategies we follow, AA rates highest using our Price/Sales Investor model based on the published strategy of Kenneth Fisher. |
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504.0 | 2023-05-04 00:00:00 UTC | AA June 23rd Options Begin Trading | AA | https://www.nasdaq.com/articles/aa-june-23rd-options-begin-trading | Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 23rd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 23rd contracts and identified one put and one call contract of particular interest.
The put contract at the $34.00 strike price has a current bid of $2.14. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $34.00, but will also collect the premium, putting the cost basis of the shares at $31.86 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $34.65/share today.
Because the $34.00 strike represents an approximate 2% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.29% return on the cash commitment, or 45.95% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $34.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $35.00 strike price has a current bid of $2.42. If an investor was to purchase shares of AA stock at the current price level of $34.65/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $35.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 7.99% if the stock gets called away at the June 23rd expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $35.00 strike highlighted in red:
Considering the fact that the $35.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.98% boost of extra return to the investor, or 50.98% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $34.65) to be 62%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $35.00 strike highlighted in red: Considering the fact that the $35.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 23rd expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $35.00 strike highlighted in red: Considering the fact that the $35.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 23rd expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $35.00 strike highlighted in red: Considering the fact that the $35.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 23rd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 23rd contracts and identified one put and one call contract of particular interest. | Below is a chart showing AA's trailing twelve month trading history, with the $35.00 strike highlighted in red: Considering the fact that the $35.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 23rd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 23rd contracts and identified one put and one call contract of particular interest. |
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505.0 | 2023-04-27 00:00:00 UTC | ‘Load Up,’ Says Goldman Sachs About These 3 Metal Stocks | AA | https://www.nasdaq.com/articles/load-up-says-goldman-sachs-about-these-3-metal-stocks | There's been a lot of buzz lately about the US potentially heading towards a recession this year. That’s a serious issue, and it should prompt investors to start getting creative in portfolio allocation. One idea is to take advantage of growth-oriented sectors – and to start thinking globally for where to find them.
Banking giant Goldman Sachs has done much of the footwork, and the firm’s chief US equity strategist David Kostin has pointed out that China’s pullback from the zero-COVID lockdown policies is likely to ignite a commodities boom. With pundits from the International Monetary Fund and Bloomberg adding their voices – estimating that China will contribute more than 22% of total global economic growth this year – Kostin notes that the metal and mining sectors are best positioned to gain heavily from Chinese demand.
“Metals & Mining stocks stand to benefit from continued China economic growth. China accounts for about half of global demand for industrial metals such as aluminum and copper... US mining companies are not heavily reliant on China as an export market but stand to benefit indirectly from China demand through higher global metals prices," Kostin explained.
Stock analyst Emily Chieng, one of Goldman’s mining industry experts, is running with Kostin’s lead, and picking out metal stocks that stand to gain in a commodities boom. Using TipRanks, the world’s biggest database of analysts and research, we've pulled up the details on three of these stock picks, which are offering up to 60% upside potential.
Cleveland-Cliffs (CLF)
We’ll start with Cleveland-Cliffs, a major producer of flat-rolled steel in the US market, with a diversified portfolio of finished steel products. This company got its start in the mining business, and still operates iron mines in upper Michigan and northern Minnesota, that feed the firm’s steelmaking, metal stamping, tooling production, and tubular component production. In addition to its leading position in the flat-rolled steel segment, Cleveland-Cliffs is also a leader in the production of automotive-grade steel products.
Cleveland-Cliffs benefits greatly from its position as a producer of iron ore, and in addition, the company also mines coking coal, with a mining facility in West Virginia and coking facilities, which turn the raw coal into a vital ingredient for steel-making, in West Virginia, Ohio, and Pennsylvania. The company's steel and steel products have applications in manufacturing and packaging, as well as the appliance, auto, equipment, construction, and energy industries.
While revenues and earnings have decreased in recent quarters, they have still managed to exceed expectations. In the most recent release, for 1Q23, the company had a top line of $5.3 billion, down 11% from the year-ago period – but the Q1 result beat analyst expectations by $90 million. The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast.
The company reported total steel sales of 4.1 million tons in Q1, for a year-over-year increase of 14%. The increase in volume sold partially offset a reduction in average net selling price.
In a development that bodes well for the company’s balance sheet, the firm reported $1.65 billion in borrowings under its credit facilities during Q1, and made $1.34 billion in payments against that debt. Cleveland-Cliffs has stated a commitment to paying down short-term revolver debt, and to that end, on April 14, the company announced closure on an offering of unsecured guaranteed notes, to the total of $750 million and due in 2030, at 6.75% annually. Net proceeds from this offering will be used to repay revolver credit borrowings.
That forms the background for the comments by Goldman Sachs' Emily Chieng, who says of this company: "We believe fixed-price contract renegotiation at higher levels and line of sight on sequential cost reduction will drive margin improvement for CLF this year versus second half of last year, particularly as natural gas prices sit below our forecasts. Further, we expect volume growth of ~8% versus prior year to be driven by automotive end markets on improving supply chain efficiencies, low dealer inventories, and healthy consumer backlogs. While CLF has made progress on improving its balance sheet last year, we continue to expect a focus on deleveraging and remain focused on share buybacks.”
Chieng complements her comments with a Buy rating on CLF shares, and a $24 price target that implies a one-year gain of ~60%. (To watch Chieng’s track record, click here)
Overall, there are 5 recent analyst reviews on record for this stock, and they include 2 Buys and 3 Holds – for a Moderate Buy consensus rating. The stock is priced at $15 and its $22 average price target implies ~47% upside on the one-year horizon. (See CLF stock forecast)
Freeport-McMoRan (FCX)
Now we’ll take a look at Freeport-McMoRan, a straight-out mining firm with a major position in the production of molybdenum, copper, and gold. The company, from its base in Phoenix, Arizona, has extensive mining operations in both North and South America, and operates one of the world’s largest copper and gold mines, the Grasberg mine in Indonesia’s Papua region. Freeport-McMoRan is the world’s largest producer of molybdenum.
Metals prices have been experiencing a surge due to high demand, with copper showing a particularly notable upward trend in recent years. The metal is up 19.5% from a trough last June, and has gained more than 25% in the last 5 years. Freeport-McMoRan produced 832 million pounds of copper in 1Q23, along with 19 million pounds of molybdenum and 270,000 ounces of gold. The company foresees total consolidated sales this year of 4.1 billion pounds of copper, 79 million pounds of molybdenum, and 1.8 million ounces of gold. In the first quarter of this year, the company realized an average price of $4.11 per pound of copper, $30.32 per pound of molybdenum, and $1,949 per ounce for gold.
Those production and price numbers generated the firm’s total Q1 revenue of $5.39 billion, which was down 18% y/y but came in $140 million better than expected. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. Freeport-McMoRan is supporting its mining ops with extensive exploration activities; the company’s exploration expense in Q1 was up 29% y/y, to $31 million.
All of this adds up to a clear buying opportunity, in the eyes of Goldman's Chieng, who writes: “We continue to view FCX favorably on consistent operational execution, leverage to copper price upside, and medium-to-long term brownfield growth optionality, and maintain our 12-month price target at $47.”
Chieng’s Buy rating on the stock, and her $47 price target, suggest a 27% upside potential for the year ahead.
Overall, FCX gets a Moderate Buy rating from the analyst consensus, based on 12 recent reviews that include 6 Buys, 5 Holds, and 1 Sell. The shares are priced at $36.87, and their one-year average price target of $46.67 implies a potential gain of ~27%. (See FCX stock forecast)
Alcoa (AA)
Last on our list of Goldman metal/mining picks is a name that may be familiar: Alcoa. Based in Pittsburgh, Pennsylvania, Alcoa is a perennial member of the global ‘top 10’ in aluminum producers, and is known for its production of high-end primary aluminum, fabricated aluminum, and alumina products. Alcoa’s aluminum end products are found in a wide range of products and industries, from automobiles and bicycles to airplanes and spacecraft, and even to such everyday items as home appliances and cookware.
The company has felt pressure from the usual macroeconomic headwinds, in the form of high inflation and interest rates, along with supply chain disruptions, combining to increase the cost of production. At the same time, Alcoa has remained profitable – and has even achieved its industry’s lowest carbon footprint.
The effects of this can be seen in Alcoa’s recent 1Q23 earnings release, and in its outlook for Q2. The company had a Q1 top line of $2.67 billion, down almost 19% year-over-year and missing the forecast by $90 million. The bottom line EPS, in non-GAAP terms, came to a net loss of 23 cents per share – where the Street had expected a break-even. Looking ahead, Alcoa is expecting a $115 million increase in the cost of energy and raw materials to offset a predicted increase in the realized third-party prices of both alumina and aluminum.
In some positive notes, the company’s EBITDA passed $1 billion in 1Q23, setting a company record, and Alcoa finished the quarter with a solid cash balance of $1.1 billion, giving the company deep pockets to withstand a difficult economic situation.
Goldman’s Chieng is bullish on Alcoa, seeing the company as more than capable of expanding its business despite the headwinds. Putting her thoughts in a recent note, she writes: “We continue to view AA positively, driven by (1) ~9% aluminum volume growth in the next two years (driven by production restarts) and (2) the company’s leverage to aluminum price upside which remains the more important driver of the company’s earnings profile; specifically, on our ~$2,700/t assumption for 2023, we estimate that the aluminum segment comprises ~75% of attributable EBITDA.”
Quantifying her stance, Chieng gives Alcoa stock a price target of $54 alongside a Buy rating; this implies an upside of 51% on the one-year time frame.
Even though the Goldman view is bullish here, Wall Street is taking a more cautious approach. Alcoa shares have a Hold rating from the analyst consensus, based on 8 reviews that include 3 Buys, 4 Holds, and 1 Sell. However, the stock’s $35.83 trading price and $47.75 average price target suggest a one-year upside potential of 34%. (See AA stock forecast)
To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.
Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. (See FCX stock forecast) Alcoa (AA) Last on our list of Goldman metal/mining picks is a name that may be familiar: Alcoa. | The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. (See FCX stock forecast) Alcoa (AA) Last on our list of Goldman metal/mining picks is a name that may be familiar: Alcoa. | Putting her thoughts in a recent note, she writes: “We continue to view AA positively, driven by (1) ~9% aluminum volume growth in the next two years (driven by production restarts) and (2) the company’s leverage to aluminum price upside which remains the more important driver of the company’s earnings profile; specifically, on our ~$2,700/t assumption for 2023, we estimate that the aluminum segment comprises ~75% of attributable EBITDA.” Quantifying her stance, Chieng gives Alcoa stock a price target of $54 alongside a Buy rating; this implies an upside of 51% on the one-year time frame. The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. | Putting her thoughts in a recent note, she writes: “We continue to view AA positively, driven by (1) ~9% aluminum volume growth in the next two years (driven by production restarts) and (2) the company’s leverage to aluminum price upside which remains the more important driver of the company’s earnings profile; specifically, on our ~$2,700/t assumption for 2023, we estimate that the aluminum segment comprises ~75% of attributable EBITDA.” Quantifying her stance, Chieng gives Alcoa stock a price target of $54 alongside a Buy rating; this implies an upside of 51% on the one-year time frame. The bottom line non-GAAP EPS of 11 cents was a far cry from the $1.50 reported in 1Q22, but was a penny better than the forecast. The non-GAAP EPS of 52 cents was less than half the $1.07 reported in 1Q22, but beat the forecast by 6 cents, or 13%. |
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506.0 | 2023-04-27 00:00:00 UTC | Japan buyers agree to pay Q2 aluminium premiums of $125-$130/T -sources | AA | https://www.nasdaq.com/articles/japan-buyers-agree-to-pay-q2-aluminium-premiums-of-%24125-%24130-t-sources | By Yuka Obayashi
TOKYO, April 27 (Reuters) - The premiums for aluminium shipments to Japanese buyers for April to June were set at $125-$130 a tonne, up 45-53% from the previous quarter, to reflect higher spot premiums elsewhere in Asia, four people directly involved in pricing talks said.
The figures compare with $85-$86 per tonne paid in the January-March quarter and mark the first quarterly increase in six quarters. The higher prices are in line with or lower than the initial offers of $125-$145 per tonne made by producers.
Japan is Asia's biggest importer of the light metal and the premiums PREM-ALUM-JP for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price CMAL0 set the benchmark for the region.
The hike reflected higher premiums in other Asian markets such as South Korea while the premiums in the United States and Europe remained at high levels, a source from a Japanese trading house said.
"We had to compromise to agree at $130 this week as a producer was not going to lower its offer any further," a source at a Japanese fabricator said.
Both sides share the view that local demand for the light metal remains weak due to slow recovery in automobile production, causing high levels of inventories.
Aluminium stocks at three major Japanese ports AL-STK-JPPRT stood at 370,700 tonnes at the end of March, above 354,300 tonnes a year earlier, according to Marubeni Corp 8002.T.
But lower import during the last quarter will likely trim the inventory in the coming months, another source at a producer said.
Japan's import of aluminium and aluminium alloys in January-March declined by 23% from a year earlier, the trade data shows.
The quarterly pricing talks, which began in late February between Japanese buyers and global suppliers, including Rio Tinto Ltd RIO.AX and South32 Ltd S32.AX, have dragged on for a month longer than usual because of a wide gap in two sides' market outlooks. The last round of talks also lasted long.
(Reporting by Yuka Obayashi Editing by Tomasz Janowski, Alexandra Hudson)
(([email protected]; +813-4520-1265;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Yuka Obayashi TOKYO, April 27 (Reuters) - The premiums for aluminium shipments to Japanese buyers for April to June were set at $125-$130 a tonne, up 45-53% from the previous quarter, to reflect higher spot premiums elsewhere in Asia, four people directly involved in pricing talks said. Both sides share the view that local demand for the light metal remains weak due to slow recovery in automobile production, causing high levels of inventories. The quarterly pricing talks, which began in late February between Japanese buyers and global suppliers, including Rio Tinto Ltd RIO.AX and South32 Ltd S32.AX, have dragged on for a month longer than usual because of a wide gap in two sides' market outlooks. | By Yuka Obayashi TOKYO, April 27 (Reuters) - The premiums for aluminium shipments to Japanese buyers for April to June were set at $125-$130 a tonne, up 45-53% from the previous quarter, to reflect higher spot premiums elsewhere in Asia, four people directly involved in pricing talks said. Japan is Asia's biggest importer of the light metal and the premiums PREM-ALUM-JP for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price CMAL0 set the benchmark for the region. The hike reflected higher premiums in other Asian markets such as South Korea while the premiums in the United States and Europe remained at high levels, a source from a Japanese trading house said. | By Yuka Obayashi TOKYO, April 27 (Reuters) - The premiums for aluminium shipments to Japanese buyers for April to June were set at $125-$130 a tonne, up 45-53% from the previous quarter, to reflect higher spot premiums elsewhere in Asia, four people directly involved in pricing talks said. Japan is Asia's biggest importer of the light metal and the premiums PREM-ALUM-JP for primary metal shipments it agrees to pay each quarter over the benchmark London Metal Exchange (LME) cash price CMAL0 set the benchmark for the region. The hike reflected higher premiums in other Asian markets such as South Korea while the premiums in the United States and Europe remained at high levels, a source from a Japanese trading house said. | By Yuka Obayashi TOKYO, April 27 (Reuters) - The premiums for aluminium shipments to Japanese buyers for April to June were set at $125-$130 a tonne, up 45-53% from the previous quarter, to reflect higher spot premiums elsewhere in Asia, four people directly involved in pricing talks said. The figures compare with $85-$86 per tonne paid in the January-March quarter and mark the first quarterly increase in six quarters. The higher prices are in line with or lower than the initial offers of $125-$145 per tonne made by producers. |
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507.0 | 2023-04-27 00:00:00 UTC | June 9th Options Now Available For Alcoa (AA) | AA | https://www.nasdaq.com/articles/june-9th-options-now-available-for-alcoa-aa | Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 9th contracts and identified one put and one call contract of particular interest.
The put contract at the $35.00 strike price has a current bid of $2.06. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $35.00, but will also collect the premium, putting the cost basis of the shares at $32.94 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $35.46/share today.
Because the $35.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 5.89% return on the cash commitment, or 49.96% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $35.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $36.00 strike price has a current bid of $2.16. If an investor was to purchase shares of AA stock at the current price level of $35.46/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $36.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 7.61% if the stock gets called away at the June 9th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $36.00 strike highlighted in red:
Considering the fact that the $36.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 6.09% boost of extra return to the investor, or 51.71% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $35.46) to be 62%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $36.00 strike highlighted in red: Considering the fact that the $36.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 9th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $36.00 strike highlighted in red: Considering the fact that the $36.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 9th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $36.00 strike highlighted in red: Considering the fact that the $36.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 9th contracts and identified one put and one call contract of particular interest. | Below is a chart showing AA's trailing twelve month trading history, with the $36.00 strike highlighted in red: Considering the fact that the $36.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the June 9th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 9th contracts and identified one put and one call contract of particular interest. |
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508.0 | 2023-04-25 00:00:00 UTC | Morgan Stanley Maintains Alcoa (AA) Equal-Weight Recommendation | AA | https://www.nasdaq.com/articles/morgan-stanley-maintains-alcoa-aa-equal-weight-recommendation | Fintel reports that on April 25, 2023, Morgan Stanley maintained coverage of Alcoa (NYSE:AA) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 38.46% Upside
As of April 24, 2023, the average one-year price target for Alcoa is 52.67. The forecasts range from a low of 40.40 to a high of $68.25. The average price target represents an increase of 38.46% from its latest reported closing price of 38.04.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is 12,227MM, an increase of 3.37%. The projected annual non-GAAP EPS is 3.60.
Alcoa Declares $0.10 Dividend
On February 23, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of March 7, 2023 received the payment on March 23, 2023. Previously, the company paid $0.10 per share.
At the current share price of $38.04 / share, the stock's dividend yield is 1.05%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.48 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 1039 funds or institutions reporting positions in Alcoa. This is a decrease of 21 owner(s) or 1.98% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 14.04%. Total shares owned by institutions increased in the last three months by 7.74% to 170,129K shares.
The put/call ratio of AA is 1.31, indicating a bearish outlook.
What are Other Shareholders Doing?
Bank of New York Mellon holds 5,974K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 6,107K shares, representing a decrease of 2.23%. The firm increased its portfolio allocation in AA by 24.32% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,464K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 5,258K shares, representing an increase of 3.77%. The firm increased its portfolio allocation in AA by 22.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,375K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 5,357K shares, representing an increase of 0.34%. The firm increased its portfolio allocation in AA by 25.18% over the last quarter.
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main holds 4,578K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 95K shares, representing an increase of 97.93%. The firm increased its portfolio allocation in AA by 5,918.07% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,558K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,568K shares, representing a decrease of 0.21%. The firm increased its portfolio allocation in AA by 24.79% over the last quarter.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
See all Alcoa regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on April 25, 2023, Morgan Stanley maintained coverage of Alcoa (NYSE:AA) with a Equal-Weight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 14.04%. | Fintel reports that on April 25, 2023, Morgan Stanley maintained coverage of Alcoa (NYSE:AA) with a Equal-Weight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 14.04%. | Fintel reports that on April 25, 2023, Morgan Stanley maintained coverage of Alcoa (NYSE:AA) with a Equal-Weight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 14.04%. | Fintel reports that on April 25, 2023, Morgan Stanley maintained coverage of Alcoa (NYSE:AA) with a Equal-Weight recommendation. The projected annual non-GAAP EPS is 3.60. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 14.04%. |
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509.0 | 2023-04-25 00:00:00 UTC | AA Crosses Critical Technical Indicator | AA | https://www.nasdaq.com/articles/aa-crosses-critical-technical-indicator | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $36.17 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Alcoa Corporation, the RSI reading has hit 29.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 46.7, the RSI of Spot Gold is at 15.1, and the RSI of Spot Silver is presently 21.3. A bullish investor could look at AA's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), AA's low point in its 52 week range is $33.55 per share, with $72.68 as the 52 week high point — that compares with a last trade of $36.45. Alcoa Corporation shares are currently trading down about 4.2% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A bullish investor could look at AA's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Free Report: Top 8%+ Dividends (paid monthly) Click here to find out what 9 other oversold metals stocks you need to know about » Also see: Top Stocks Held By Victor Mashaal Top Ten Hedge Funds Holding AUSE Top Ten Hedge Funds Holding FDM The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $36.17 per share. | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $36.17 per share. Free Report: Top 8%+ Dividends (paid monthly) Click here to find out what 9 other oversold metals stocks you need to know about » Also see: Top Stocks Held By Victor Mashaal Top Ten Hedge Funds Holding AUSE Top Ten Hedge Funds Holding FDM The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. A bullish investor could look at AA's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $36.17 per share. Free Report: Top 8%+ Dividends (paid monthly) Click here to find out what 9 other oversold metals stocks you need to know about » Also see: Top Stocks Held By Victor Mashaal Top Ten Hedge Funds Holding AUSE Top Ten Hedge Funds Holding FDM The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. A bullish investor could look at AA's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $36.17 per share. A bullish investor could look at AA's 29.9 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $33.55 per share, with $72.68 as the 52 week high point — that compares with a last trade of $36.45. |
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510.0 | 2023-04-24 00:00:00 UTC | Notable Monday Option Activity: RETA, AA, FOXA | AA | https://www.nasdaq.com/articles/notable-monday-option-activity%3A-reta-aa-foxa | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Reata Pharmaceuticals Inc (Symbol: RETA), where a total of 2,330 contracts have traded so far, representing approximately 233,000 underlying shares. That amounts to about 40.4% of RETA's average daily trading volume over the past month of 577,290 shares. Particularly high volume was seen for the $120 strike call option expiring May 19, 2023, with 757 contracts trading so far today, representing approximately 75,700 underlying shares of RETA. Below is a chart showing RETA's trailing twelve month trading history, with the $120 strike highlighted in orange:
Alcoa Corporation (Symbol: AA) options are showing a volume of 18,455 contracts thus far today. That number of contracts represents approximately 1.8 million underlying shares, working out to a sizeable 40.4% of AA's average daily trading volume over the past month, of 4.6 million shares. Particularly high volume was seen for the $38.50 strike call option expiring April 28, 2023, with 928 contracts trading so far today, representing approximately 92,800 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $38.50 strike highlighted in orange:
And Fox Corp (Symbol: FOXA) options are showing a volume of 11,732 contracts thus far today. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 40.3% of FOXA's average daily trading volume over the past month, of 2.9 million shares. Particularly high volume was seen for the $33 strike put option expiring April 28, 2023, with 2,575 contracts trading so far today, representing approximately 257,500 underlying shares of FOXA. Below is a chart showing FOXA's trailing twelve month trading history, with the $33 strike highlighted in orange:
For the various different available expirations for RETA options, AA options, or FOXA options, visit StockOptionsChannel.com.
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Institutional Holders of CUSP
MDGN Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $38.50 strike call option expiring April 28, 2023, with 928 contracts trading so far today, representing approximately 92,800 underlying shares of AA. Below is a chart showing RETA's trailing twelve month trading history, with the $120 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 18,455 contracts thus far today. That number of contracts represents approximately 1.8 million underlying shares, working out to a sizeable 40.4% of AA's average daily trading volume over the past month, of 4.6 million shares. | Below is a chart showing RETA's trailing twelve month trading history, with the $120 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 18,455 contracts thus far today. That number of contracts represents approximately 1.8 million underlying shares, working out to a sizeable 40.4% of AA's average daily trading volume over the past month, of 4.6 million shares. Particularly high volume was seen for the $38.50 strike call option expiring April 28, 2023, with 928 contracts trading so far today, representing approximately 92,800 underlying shares of AA. | Particularly high volume was seen for the $38.50 strike call option expiring April 28, 2023, with 928 contracts trading so far today, representing approximately 92,800 underlying shares of AA. Below is a chart showing FOXA's trailing twelve month trading history, with the $33 strike highlighted in orange: For the various different available expirations for RETA options, AA options, or FOXA options, visit StockOptionsChannel.com. Below is a chart showing RETA's trailing twelve month trading history, with the $120 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 18,455 contracts thus far today. | Below is a chart showing FOXA's trailing twelve month trading history, with the $33 strike highlighted in orange: For the various different available expirations for RETA options, AA options, or FOXA options, visit StockOptionsChannel.com. Below is a chart showing RETA's trailing twelve month trading history, with the $120 strike highlighted in orange: Alcoa Corporation (Symbol: AA) options are showing a volume of 18,455 contracts thus far today. That number of contracts represents approximately 1.8 million underlying shares, working out to a sizeable 40.4% of AA's average daily trading volume over the past month, of 4.6 million shares. |
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511.0 | 2023-04-24 00:00:00 UTC | New Strong Sell Stocks for April 24th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-april-24th | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days.
Angel Oak Mortgage REIT Inc. AOMR is a vertically integrated asset manager delivering mortgage and consumer credit solutions.The Zacks Consensus Estimate for its current year earnings has been revised 36.0% downward over the last 60 days.
AdvanSix ASIX is a producer and supplier of Nylon 6 materials. The Zacks Consensus Estimate for its current year earnings has been revised almost 17.4% downward over the last 60 days.
View the entire Zacks Rank #5 List.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Alcoa (AA) : Free Stock Analysis Report
AdvanSix (ASIX) : Free Stock Analysis Report
Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for its current year earnings has been revised almost 17.4% downward over the last 60 days. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. Angel Oak Mortgage REIT Inc. AOMR is a vertically integrated asset manager delivering mortgage and consumer credit solutions.The Zacks Consensus Estimate for its current year earnings has been revised 36.0% downward over the last 60 days. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. Angel Oak Mortgage REIT Inc. AOMR is a vertically integrated asset manager delivering mortgage and consumer credit solutions.The Zacks Consensus Estimate for its current year earnings has been revised 36.0% downward over the last 60 days. | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alcoa AA is a global industry leader in bauxite, alumina and aluminum products.The Zacks Consensus Estimate for its current year earnings has been revised 53.7% downward over the last 60 days. Click to get this free report Alcoa (AA) : Free Stock Analysis Report AdvanSix (ASIX) : Free Stock Analysis Report Angel Oak Mortgage REIT Inc. (AOMR) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for its current year earnings has been revised almost 17.4% downward over the last 60 days. |
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512.0 | 2023-04-21 00:00:00 UTC | B. Riley Securities Maintains Alcoa (AA) Neutral Recommendation | AA | https://www.nasdaq.com/articles/b.-riley-securities-maintains-alcoa-aa-neutral-recommendation | Fintel reports that on April 21, 2023, B. Riley Securities maintained coverage of Alcoa (NYSE:AA) with a Neutral recommendation.
Analyst Price Forecast Suggests 39.22% Upside
As of April 7, 2023, the average one-year price target for Alcoa is $56.01. The forecasts range from a low of $44.44 to a high of $68.25. The average price target represents an increase of 39.22% from its latest reported closing price of $40.23.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is $12,227MM, an increase of 3.37%. The projected annual non-GAAP EPS is $3.60.
Alcoa Declares $0.10 Dividend
On February 23, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of March 7, 2023 received the payment on March 23, 2023. Previously, the company paid $0.10 per share.
At the current share price of $40.23 / share, the stock's dividend yield is 0.99%. Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.53 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What are Other Shareholders Doing?
FNDB - Schwab Fundamental U.S. Broad Market Index ETF holds 4K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 4K shares, representing a decrease of 10.41%. The firm decreased its portfolio allocation in AA by 14.37% over the last quarter.
GGMBX - Goldman Sachs Global Managed Beta Fund Institutional Shares holds 1K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 70.79%. The firm increased its portfolio allocation in AA by 247.67% over the last quarter.
KOKU - Xtrackers MSCI Kokusai Equity ETF holds 2K shares representing 0.00% ownership of the company. No change in the last quarter.
Assenagon Asset Management holds 25K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 29K shares, representing a decrease of 16.62%. The firm increased its portfolio allocation in AA by 78,867.33% over the last quarter.
PBUS - Invesco PureBeta MSCI USA ETF holds 12K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 12K shares, representing a decrease of 1.97%. The firm decreased its portfolio allocation in AA by 3.16% over the last quarter.
What is the Fund Sentiment?
There are 1040 funds or institutions reporting positions in Alcoa. This is a decrease of 19 owner(s) or 1.79% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.27%, an increase of 40.49%. Total shares owned by institutions increased in the last three months by 7.33% to 170,142K shares.
The put/call ratio of AA is 1.15, indicating a bearish outlook.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
See all Alcoa regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on April 21, 2023, B. Riley Securities maintained coverage of Alcoa (NYSE:AA) with a Neutral recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 14.37% over the last quarter. | Fintel reports that on April 21, 2023, B. Riley Securities maintained coverage of Alcoa (NYSE:AA) with a Neutral recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 14.37% over the last quarter. | Fintel reports that on April 21, 2023, B. Riley Securities maintained coverage of Alcoa (NYSE:AA) with a Neutral recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 14.37% over the last quarter. | Fintel reports that on April 21, 2023, B. Riley Securities maintained coverage of Alcoa (NYSE:AA) with a Neutral recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 14.37% over the last quarter. |
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513.0 | 2023-04-21 00:00:00 UTC | COLUMN-Aluminium's fortunes tied to Yunnan weather forecast: Andy Home | AA | https://www.nasdaq.com/articles/column-aluminiums-fortunes-tied-to-yunnan-weather-forecast%3A-andy-home | By Andy Home
LONDON, April 21 (Reuters) - Global primary aluminium production grew by 2.0% year-on-year to 16.9 million tonnes in the first three months of 2023, according to the latest monthly assessment from the International Aluminium Institute (IAI).
The headline growth figure flatters to deceive.
Production outside of China is flat-lining, with restarts and curtailments largely cancelling each other out.
China, which accounts for just under 60% of the world's primary metal production, lifted output by 3.9% relative to the first quarter of 2022, but the growth rate slowed sharply to just 0.9% in March.
Expressed in terms of annualised run-rates, China's output of 39.9 million tonnes last month was the lowest in a year and down by 1.6 million tonnes from August's record 41.5 million.
New and restarted capacity is failing to offset lower production in the hydro-rich province of Yunnan, where power-hungry smelters have been ordered to reduce operations to help cope with a severe drought.
China's aluminium production is now highly dependent on weather patterns in the south of the country. So too is the global aluminium market.
PRAYING FOR RAIN
Yunnan province accounts for around 12% of China's aluminium capacity and produced 4.2 million tonnes in 2022.
It has been a fast-growing production hub as Chinese operators have migrated from coal-powered provinces in a quest to produce low-carbon "green" aluminium using hydro energy.
Hydro power, however, requires rainfall and Yunnan is experiencing its worst drought in decades.
The provincial capital Kunming, which has received only 10% of its normal precipitation so far this year, earlier this week issued an orange drought alert, the second most severe warning in a four-tiered system. Many other towns have done the same, according to China Daily.
Industrial energy users, including aluminium smelters, have been instructed to reduce operations to balance the power system.
Around two million tonnes of the province's production capacity is now off-line, according to Li Jiahui, an analyst at consultancy Shanghai Metals Market, speaking at a conference in Zhengzhou.
While other provinces have restarted capacity or even brought on new electrolysis lines, the impact has failed to offset the losses in Yunnan.
In theory things will turn around with the approaching rainy season, but in practice it will depend on just how much rain falls and whether there will be sufficient guaranteed power to allow smelters to commit to the costs of reactivating idled capacity.
WESTERN PRODUCTION FLAT-LINES
Primary aluminium production outside of China was flat year-on-year in the first quarter.
Only two regions registered significant changes relative to the first three months of 2022.
Latin American production surged by 24% thanks to the ramp-up of the Alumar smelter in Brazil, which is being restarted after six years of care and maintenance, and the return to full operations of the Aluar plant in Argentina.
However, the region is a relatively small producer and even with the stellar growth rate accounted for just 5% of non-Chinese production in the first quarter.
At the other end of the spectrum lies Western Europe, where first-quarter production was down by 10% on last year.
High energy prices have forced multiple smelters to idle capacity over the last year, and annualised run-rates in the region have fallen to multi-year lows of 2.7 million tonnes.
Output appears to be bottoming out, with no new announcements of curtailments and Norwegian producer Hydro NHY.OL negotiating a last-minute deal to avoid a potentially protracted strike at two of its smelters.
Next year will see the return of the San Ciprian smelter in Spain, which Alcoa AA.N will restart after two years of idling with new renewable power agreements.
Others may also reactivate curtailed capacity if power prices hold their lower levels after spiking in the wake of Russia's invasion of Ukraine.
WEATHER WATCH
However, China's dominant position in the global aluminium picture means that it holds the key to future production patterns.
And the key variable within China is Yunnan, which can churn out as much metal as all the smelters in North and Latin America combined.
Both the global supply chain and the aluminium price are becoming ever more dependent on rainfall patterns in southern China.
Seasonality is a new source of volatility for a metal that was previously defined by the predictable nature of the continuous aluminium smelter process.
Aluminium's green energy-transition ambitions come with a big green production caveat.
The opinions expressed here are those of the author, a columnist for Reuters.
China's production is falling due to drought in Yunnanhttps://tmsnrt.rs/43S9xOD
(Editing by Jan Harvey)
(([email protected], 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Next year will see the return of the San Ciprian smelter in Spain, which Alcoa AA.N will restart after two years of idling with new renewable power agreements. The provincial capital Kunming, which has received only 10% of its normal precipitation so far this year, earlier this week issued an orange drought alert, the second most severe warning in a four-tiered system. In theory things will turn around with the approaching rainy season, but in practice it will depend on just how much rain falls and whether there will be sufficient guaranteed power to allow smelters to commit to the costs of reactivating idled capacity. | Next year will see the return of the San Ciprian smelter in Spain, which Alcoa AA.N will restart after two years of idling with new renewable power agreements. By Andy Home LONDON, April 21 (Reuters) - Global primary aluminium production grew by 2.0% year-on-year to 16.9 million tonnes in the first three months of 2023, according to the latest monthly assessment from the International Aluminium Institute (IAI). Yunnan province accounts for around 12% of China's aluminium capacity and produced 4.2 million tonnes in 2022. | Next year will see the return of the San Ciprian smelter in Spain, which Alcoa AA.N will restart after two years of idling with new renewable power agreements. By Andy Home LONDON, April 21 (Reuters) - Global primary aluminium production grew by 2.0% year-on-year to 16.9 million tonnes in the first three months of 2023, according to the latest monthly assessment from the International Aluminium Institute (IAI). Expressed in terms of annualised run-rates, China's output of 39.9 million tonnes last month was the lowest in a year and down by 1.6 million tonnes from August's record 41.5 million. | Next year will see the return of the San Ciprian smelter in Spain, which Alcoa AA.N will restart after two years of idling with new renewable power agreements. New and restarted capacity is failing to offset lower production in the hydro-rich province of Yunnan, where power-hungry smelters have been ordered to reduce operations to help cope with a severe drought. Yunnan province accounts for around 12% of China's aluminium capacity and produced 4.2 million tonnes in 2022. |
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514.0 | 2023-04-21 00:00:00 UTC | Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks | AA | https://www.nasdaq.com/articles/friday-sector-laggards%3A-metals-mining-non-precious-metals-non-metallic-mining-stocks-0 | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Helping drag down the group were shares of 5E Advanced Materials, off about 12.1% and shares of Gatos Silver down about 6.4% on the day.
Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%.
VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. VIDEO: Friday Sector Laggards: Metals & Mining, Non-Precious Metals & Non-Metallic Mining Stocks The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, metals & mining shares were relative laggards, down on the day by about 2.9%. Helping drag down the group were shares of 5E Advanced Materials, off about 12.1% and shares of Gatos Silver down about 6.4% on the day. Also lagging the market Friday are non-precious metals & non-metallic mining shares, down on the day by about 2.8% as a group, led down by Century Aluminum, trading lower by about 7.1% and Alcoa, trading lower by about 5.9%. |
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515.0 | 2023-04-20 00:00:00 UTC | BMO Capital Maintains Alcoa (AA) Market Perform Recommendation | AA | https://www.nasdaq.com/articles/bmo-capital-maintains-alcoa-aa-market-perform-recommendation | Fintel reports that on April 20, 2023, BMO Capital maintained coverage of Alcoa (NYSE:AA) with a Market Perform recommendation.
Analyst Price Forecast Suggests 35.87% Upside
As of April 7, 2023, the average one-year price target for Alcoa is $56.01. The forecasts range from a low of $44.44 to a high of $68.25. The average price target represents an increase of 35.87% from its latest reported closing price of $41.22.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is $12,227MM, an increase of 3.37%. The projected annual non-GAAP EPS is $3.60.
Alcoa Declares $0.10 Dividend
On February 23, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of March 7, 2023 received the payment on March 23, 2023. Previously, the company paid $0.10 per share.
At the current share price of $41.22 / share, the stock's dividend yield is 0.97%. Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.55 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What are Other Shareholders Doing?
RECS - Columbia Research Enhanced Core ETF holds 2K shares representing 0.00% ownership of the company.
Natixis holds 18K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 261K shares, representing a decrease of 1,328.68%. The firm decreased its portfolio allocation in AA by 88.80% over the last quarter.
FLAPX - Fidelity Flex Mid Cap Index Fund holds 5K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 5K shares, representing an increase of 1.59%. The firm increased its portfolio allocation in AA by 21.81% over the last quarter.
LPL Financial holds 103K shares representing 0.06% ownership of the company. In it's prior filing, the firm reported owning 105K shares, representing a decrease of 2.15%. The firm increased its portfolio allocation in AA by 17.37% over the last quarter.
PESAX - LargeCap Value Fund III R-1 holds 4K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 4K shares, representing a decrease of 12.84%. The firm increased its portfolio allocation in AA by 19.16% over the last quarter.
What is the Fund Sentiment?
There are 1039 funds or institutions reporting positions in Alcoa. This is a decrease of 21 owner(s) or 1.98% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.27%, an increase of 40.66%. Total shares owned by institutions increased in the last three months by 7.96% to 170,077K shares.
The put/call ratio of AA is 1.21, indicating a bearish outlook.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
See all Alcoa regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that on April 20, 2023, BMO Capital maintained coverage of Alcoa (NYSE:AA) with a Market Perform recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 88.80% over the last quarter. | Fintel reports that on April 20, 2023, BMO Capital maintained coverage of Alcoa (NYSE:AA) with a Market Perform recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 88.80% over the last quarter. | Fintel reports that on April 20, 2023, BMO Capital maintained coverage of Alcoa (NYSE:AA) with a Market Perform recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 88.80% over the last quarter. | Fintel reports that on April 20, 2023, BMO Capital maintained coverage of Alcoa (NYSE:AA) with a Market Perform recommendation. The projected annual non-GAAP EPS is $3.60. The firm decreased its portfolio allocation in AA by 88.80% over the last quarter. |
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516.0 | 2023-04-20 00:00:00 UTC | Guru Fundamental Report for AA | AA | https://www.nasdaq.com/articles/guru-fundamental-report-for-aa-1 | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. This deep value model looks for inexpensive stocks that could be potential takeover targets.
ALCOA CORP (AA) is a mid-cap value stock in the Metal Mining industry. The rating using this strategy is 89% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
SECTOR: PASS
QUALITY: PASS
ACQUIRER'S MULTIPLE FAIL
Detailed Analysis of ALCOA CORP
AA Guru Analysis
AA Fundamental Analysis
More Information on Tobias Carlisle
Tobias Carlisle Portfolio
About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. He is the author of "The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market" and the founder of Acquirer's Funds. He is also the author of "Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations" and co-author of Quantitative Value: "A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors" Tobias is originally from Australia, where he worked an an analyst at an activist hedge fund and was a lawyer specializing in mergers and acquisitions.
Additional Research Links
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Harry Browne Permanent Portfolio
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ALCOA CORP (AA) is a mid-cap value stock in the Metal Mining industry. Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. | Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. Below is Validea's guru fundamental report for ALCOA CORP (AA). | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. |
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517.0 | 2023-04-19 00:00:00 UTC | Alcoa (AA) Reports Q1 Loss, Tops Revenue Estimates | AA | https://www.nasdaq.com/articles/alcoa-aa-reports-q1-loss-tops-revenue-estimates | Alcoa (AA) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to earnings of $3.06 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -360%. A quarter ago, it was expected that this bauxite, alumina and aluminum products company would post a loss of $0.85 per share when it actually produced a loss of $0.70, delivering a surprise of 17.65%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.67 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 0.31%. This compares to year-ago revenues of $3.29 billion. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Alcoa shares have lost about 7.3% since the beginning of the year versus the S&P 500's gain of 8.2%.
What's Next for Alcoa?
While Alcoa has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Alcoa: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.44 on $2.67 billion in revenues for the coming quarter and $2.09 on $10.73 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Metal Products - Distribution is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Arconic (ARNC), is yet to report results for the quarter ended March 2023.
This company is expected to post quarterly earnings of $0.21 per share in its upcoming report, which represents a year-over-year change of -46.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Arconic's revenues are expected to be $1.82 billion, down 17% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.05. Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa (AA) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.05. Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.67 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 0.31%. | Alcoa (AA) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.05. Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.67 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 0.31%. | Alcoa (AA) came out with a quarterly loss of $0.23 per share versus the Zacks Consensus Estimate of a loss of $0.05. Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.67 billion for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 0.31%. |
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518.0 | 2023-04-19 00:00:00 UTC | Alcoa Corp. Q1 Earnings Summary | AA | https://www.nasdaq.com/articles/alcoa-corp.-q1-earnings-summary | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA):
Earnings: -$231 million in Q1 vs. $469 million in the same period last year. EPS: -$1.30 in Q1 vs. $2.49 in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$41 million or -$0.23 per share for the period.
Analysts projected -$0.11 per share Revenue: $2.67 billion in Q1 vs. $3.29 billion in the same period last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$231 million in Q1 vs. $469 million in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$41 million or -$0.23 per share for the period. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$231 million in Q1 vs. $469 million in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$41 million or -$0.23 per share for the period. Analysts projected -$0.11 per share Revenue: $2.67 billion in Q1 vs. $3.29 billion in the same period last year. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$231 million in Q1 vs. $469 million in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$41 million or -$0.23 per share for the period. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$231 million in Q1 vs. $469 million in the same period last year. EPS: -$1.30 in Q1 vs. $2.49 in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$41 million or -$0.23 per share for the period. |
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519.0 | 2023-04-19 00:00:00 UTC | Alcoa Q1 23 Earnings Conference Call At 5:00 PM ET | AA | https://www.nasdaq.com/articles/alcoa-q1-23-earnings-conference-call-at-5%3A00-pm-et | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on April 19, 2023, to discuss Q1 23 earnings results.
To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx
To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 8998726.
For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 9037770.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on April 19, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 8998726. For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 9037770. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on April 19, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 8998726. For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 9037770. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on April 19, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 8998726. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on April 19, 2023, to discuss Q1 23 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 8998726. For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 9037770. |
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520.0 | 2023-04-18 00:00:00 UTC | GRAPHIC-Hefty shortages to help buoy aluminium prices this year | AA | https://www.nasdaq.com/articles/graphic-hefty-shortages-to-help-buoy-aluminium-prices-this-year | By Pratima Desai
LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices.
Smelter shutdowns in Europe due to high energy prices over the past couple of years and consumers there shunning Russian metal after Moscow invaded Ukraine last year make the problem particularly acute in the region.
Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China.
At $2,400 a tonne, they have dropped 10% since mid-January.
However, in recent weeks deficits have emerged, as seen in sliding inventories of aluminium used in the transport, construction and packaging industries.
In warehouses monitored by the Shanghai Futures Exchanges, aluminium stocks AL-STX-SGH at 274,347 tonnes have dropped 12% over the last month. In LME approved warehouses, stocks MALSTX-TOTAL have fallen 5% since mid-February.
Chinese production should rise, but at a slower pace than previously forecast due to power rationing and disruptions in provinces such as Yunnan where aluminium is mostly smelted using hydro electricity.
"China's smelters remain under pressure because of hydro power shortages. At the same time, demand should pick up, so exports will likely remain capped," said Bank of America analyst Michael Widmer. "We expect rising deficits going forward."
Widmer expects an aluminium market deficit of 1.53 million tonnes this year and a shortage of 1.93 million tonnes next.
Meanwhile, in Europe lower power prices have helped to reduce production costs, but smelter restarts are limited.
A scramble for supplies has since mid-January fuelled a 20% jump in the duty-paid aluminium premiums buyers in Europe EPDc1 pay in the physical market - above the LME price - to $330 a tonne.
"Physical premiums managed to hold up in Europe where supply constraints remain following the large smelter cuts last year and Russian metal being diverted to Asia," Macquarie analysts said in a note.
"Given more Russian metal is expected to flow to China, there should be fundamental support for physical premiums."
Macquarie forecasts an aluminium market deficit of 670,000 tonnes this year and global consumption at 70.8 million tonnes.
Aluminium market balanceshttps://tmsnrt.rs/3A57NUL
Physical aluminium premiums in Europehttps://tmsnrt.rs/3KMVhhs
Aluminium inventorieshttps://tmsnrt.rs/3A5UV0v
Aluminium pricehttps://tmsnrt.rs/43Ffsqo
(Reporting by Pratima Desai Editing by Mark Potter)
(([email protected]; +44 207 513 5681;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | By Pratima Desai LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices. Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China. "Physical premiums managed to hold up in Europe where supply constraints remain following the large smelter cuts last year and Russian metal being diverted to Asia," Macquarie analysts said in a note. | By Pratima Desai LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices. Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China. Widmer expects an aluminium market deficit of 1.53 million tonnes this year and a shortage of 1.93 million tonnes next. | By Pratima Desai LONDON, April 18 (Reuters) - Supply disruptions in top producer China due to problems with hydro power mean hefty shortages of aluminium this year, which are likely to offset slow demand growth and help bolster prices. Widmer expects an aluminium market deficit of 1.53 million tonnes this year and a shortage of 1.93 million tonnes next. Aluminium market balanceshttps://tmsnrt.rs/3A57NUL Physical aluminium premiums in Europehttps://tmsnrt.rs/3KMVhhs Aluminium inventorieshttps://tmsnrt.rs/3A5UV0v Aluminium pricehttps://tmsnrt.rs/43Ffsqo (Reporting by Pratima Desai Editing by Mark Potter) (([email protected]; +44 207 513 5681;)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Despite expectations of tight supplies, aluminium prices CMAL3 on the London Metal Exchange (LME) have come under pressure due to interest rate hikes in the United States and sluggish demand in top consumer China. "China's smelters remain under pressure because of hydro power shortages. "Physical premiums managed to hold up in Europe where supply constraints remain following the large smelter cuts last year and Russian metal being diverted to Asia," Macquarie analysts said in a note. |
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521.0 | 2023-04-17 00:00:00 UTC | What To Anticipate From Alcoa's Q1 Results? | AA | https://www.nasdaq.com/articles/what-to-anticipate-from-alcoas-q1-results | Alcoa (NYSE:AA) is expected to publish its Q1 2023 results on April 19 reporting on a quarter that saw aluminum prices face considerable volatility. We expect the company’s revenues to come in at about $2.76 billion, roughly in line with the consensus estimates. While this would mark a sequential increase of about 4%, it would translate into a year-over-year decline of around 16%. We estimate that earnings will stand at just $0.05 per share, slightly ahead of the consensus, although this would mark a decline from levels of around $2.49 in the year-ago period. So what are some of the trends that are likely to drive Alcoa’s results? See our interactive dashboard analysis on Alcoa Earnings Preview for more details on how AA’s revenues and earnings are likely to trend for the quarter.
Aluminum prices have been quite volatile in recent months, rising from $2,300 per ton in early January to about $2,650 by the end of January, due to optimism surrounding the post-Covid re-opening in China. However, prices fell to about $2,400 by the end of March. Aluminum output from China has been expanding, driven by relaxed power restrictions and new capacity coming online and this has also been putting a lid on price appreciation. Moreover, Alcoa’s production is also facing some headwinds due to the high price of natural gas, particularly in European countries such as Spain and Norway. The higher costs could also impact margins and earnings. The company is also likely to be impacted by the lower quality of bauxite at its Australian refineries. Although Alcoa has not provided specific guidance for Q1 2023, it expects to ship between 2.5 and 2.6 million metric tons of aluminum in 2023, consistent with 2022, while alumina shipments are projected to decline a bit.
However, we still remain positive on AA stock. Alcoa stock has already declined by over 55% from levels seen around March 2022 and remains down almost 14% year-to-date. Moreover, rising investments in the renewable energy sector including electric vehicles, charging infrastructure, and solar and wind power plants remain secular drivers for aluminum demand. We think that Alcoa has an edge over other aluminum producers given its strong balance sheet (net debt of about $440 million) and also due to the fact that its facilities are largely based in the U.S., resulting in lower energy costs compared to European rivals. We value AA stock at $48 per share, about 20% ahead of the current market price. See our analysis of Alcoa valuation for a closer look at what’s driving our price estimate for Alcoa and how Alcoa’s valuation compares with peers. Also, see our analysis of Alcoa Revenue for more details on how Alcoa’s revenues are expected to trend.
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Returns Apr 2023
MTD [1] 2023
YTD [1] 2017-23
Total [2]
AA Return -8% -14% 41%
S&P 500 Return 0% 7% 83%
Trefis Multi-Strategy Portfolio -2% 6% 232%
[1] Month-to-date and year-to-date as of 4/9/2023
[2] Cumulative total returns since the end of 2016
Invest with Trefis Market Beating Portfolios
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (NYSE:AA) is expected to publish its Q1 2023 results on April 19 reporting on a quarter that saw aluminum prices face considerable volatility. See our interactive dashboard analysis on Alcoa Earnings Preview for more details on how AA’s revenues and earnings are likely to trend for the quarter. However, we still remain positive on AA stock. | Total [2] AA Return -8% -14% 41% S&P 500 Return 0% 7% 83% Trefis Multi-Strategy Portfolio -2% 6% 232% [1] Month-to-date and year-to-date as of 4/9/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Alcoa (NYSE:AA) is expected to publish its Q1 2023 results on April 19 reporting on a quarter that saw aluminum prices face considerable volatility. See our interactive dashboard analysis on Alcoa Earnings Preview for more details on how AA’s revenues and earnings are likely to trend for the quarter. | Total [2] AA Return -8% -14% 41% S&P 500 Return 0% 7% 83% Trefis Multi-Strategy Portfolio -2% 6% 232% [1] Month-to-date and year-to-date as of 4/9/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Alcoa (NYSE:AA) is expected to publish its Q1 2023 results on April 19 reporting on a quarter that saw aluminum prices face considerable volatility. See our interactive dashboard analysis on Alcoa Earnings Preview for more details on how AA’s revenues and earnings are likely to trend for the quarter. | Alcoa (NYSE:AA) is expected to publish its Q1 2023 results on April 19 reporting on a quarter that saw aluminum prices face considerable volatility. See our interactive dashboard analysis on Alcoa Earnings Preview for more details on how AA’s revenues and earnings are likely to trend for the quarter. However, we still remain positive on AA stock. |
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522.0 | 2023-04-14 00:00:00 UTC | Alcoa (AA) Dips More Than Broader Markets: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-dips-more-than-broader-markets%3A-what-you-should-know-8 | Alcoa (AA) closed the most recent trading day at $40.40, moving -1.32% from the previous trading session. This change lagged the S&P 500's daily loss of 0.21%. At the same time, the Dow lost 0.42%, and the tech-heavy Nasdaq lost 0.64%.
Coming into today, shares of the bauxite, alumina and aluminum products company had gained 0.47% in the past month. In that same time, the Industrial Products sector gained 0.48%, while the S&P 500 gained 7.71%.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. This is expected to be April 19, 2023. The company is expected to report EPS of -$0.05, down 101.63% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.66 billion, down 19.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.09 per share and revenue of $10.73 billion, which would represent changes of -56.73% and -13.82%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alcoa. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 13.35% lower. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Alcoa has a Forward P/E ratio of 19.57 right now. This represents a premium compared to its industry's average Forward P/E of 11.42.
We can also see that AA currently has a PEG ratio of 6.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Metal Products - Distribution was holding an average PEG ratio of 6.48 at yesterday's closing price.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% 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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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed the most recent trading day at $40.40, moving -1.32% from the previous trading session. We can also see that AA currently has a PEG ratio of 6.57. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $40.40, moving -1.32% from the previous trading session. We can also see that AA currently has a PEG ratio of 6.57. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $40.40, moving -1.32% from the previous trading session. We can also see that AA currently has a PEG ratio of 6.57. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $40.40, moving -1.32% from the previous trading session. We can also see that AA currently has a PEG ratio of 6.57. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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523.0 | 2023-04-14 00:00:00 UTC | Noteworthy Friday Option Activity: APLS, AA, CELH | AA | https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-apls-aa-celh | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in Apellis Pharmaceuticals Inc (Symbol: APLS), where a total of 7,621 contracts have traded so far, representing approximately 762,100 underlying shares. That amounts to about 42.6% of APLS's average daily trading volume over the past month of 1.8 million shares. Particularly high volume was seen for the $85 strike call option expiring May 19, 2023, with 2,801 contracts trading so far today, representing approximately 280,100 underlying shares of APLS. Below is a chart showing APLS's trailing twelve month trading history, with the $85 strike highlighted in orange:
Alcoa Corporation (Symbol: AA) saw options trading volume of 20,499 contracts, representing approximately 2.0 million underlying shares or approximately 42.1% of AA's average daily trading volume over the past month, of 4.9 million shares. Particularly high volume was seen for the $40 strike call option expiring June 16, 2023, with 3,116 contracts trading so far today, representing approximately 311,600 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $40 strike highlighted in orange:
And Celsius Holdings Inc (Symbol: CELH) options are showing a volume of 2,541 contracts thus far today. That number of contracts represents approximately 254,100 underlying shares, working out to a sizeable 41.9% of CELH's average daily trading volume over the past month, of 606,205 shares. Especially high volume was seen for the $100 strike call option expiring January 19, 2024, with 593 contracts trading so far today, representing approximately 59,300 underlying shares of CELH. Below is a chart showing CELH's trailing twelve month trading history, with the $100 strike highlighted in orange:
For the various different available expirations for APLS options, AA options, or CELH options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $40 strike call option expiring June 16, 2023, with 3,116 contracts trading so far today, representing approximately 311,600 underlying shares of AA. Below is a chart showing APLS's trailing twelve month trading history, with the $85 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 20,499 contracts, representing approximately 2.0 million underlying shares or approximately 42.1% of AA's average daily trading volume over the past month, of 4.9 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $40 strike highlighted in orange: And Celsius Holdings Inc (Symbol: CELH) options are showing a volume of 2,541 contracts thus far today. | Below is a chart showing APLS's trailing twelve month trading history, with the $85 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 20,499 contracts, representing approximately 2.0 million underlying shares or approximately 42.1% of AA's average daily trading volume over the past month, of 4.9 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $40 strike highlighted in orange: And Celsius Holdings Inc (Symbol: CELH) options are showing a volume of 2,541 contracts thus far today. Below is a chart showing CELH's trailing twelve month trading history, with the $100 strike highlighted in orange: For the various different available expirations for APLS options, AA options, or CELH options, visit StockOptionsChannel.com. | Below is a chart showing APLS's trailing twelve month trading history, with the $85 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 20,499 contracts, representing approximately 2.0 million underlying shares or approximately 42.1% of AA's average daily trading volume over the past month, of 4.9 million shares. Below is a chart showing CELH's trailing twelve month trading history, with the $100 strike highlighted in orange: For the various different available expirations for APLS options, AA options, or CELH options, visit StockOptionsChannel.com. Particularly high volume was seen for the $40 strike call option expiring June 16, 2023, with 3,116 contracts trading so far today, representing approximately 311,600 underlying shares of AA. | Below is a chart showing APLS's trailing twelve month trading history, with the $85 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 20,499 contracts, representing approximately 2.0 million underlying shares or approximately 42.1% of AA's average daily trading volume over the past month, of 4.9 million shares. Below is a chart showing CELH's trailing twelve month trading history, with the $100 strike highlighted in orange: For the various different available expirations for APLS options, AA options, or CELH options, visit StockOptionsChannel.com. Particularly high volume was seen for the $40 strike call option expiring June 16, 2023, with 3,116 contracts trading so far today, representing approximately 311,600 underlying shares of AA. |
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524.0 | 2023-04-14 00:00:00 UTC | What's in the Offing for Alcoa (AA) This Earnings Season? | AA | https://www.nasdaq.com/articles/whats-in-the-offing-for-alcoa-aa-this-earnings-season | Alcoa Corporation AA is scheduled to release first-quarter 2023 results on Apr 19, after market close.
The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters.
Let’s see how things are shaping up for Alcoa this earnings season.
Alcoa Price and EPS Surprise
Alcoa price-eps-surprise | Alcoa Quote
Factors to Note
Lower prices in Alumina and Aluminum segments are likely to have weighed on AA’s top line in the first quarter. The Zacks Consensus Estimate for total revenues in the first quarter indicates a 19.2% decline from the year-ago quarter.
Weakness in Alumina shipments due to the partial curtailment of the San Ciprian refinery and lower bauxite quality at the Australian refineries is likely to have impacted AA’s first-quarter performance.
High raw material and energy costs, primarily in Europe due to war tensions, are expected to have dented Alcoa’s bottom line. The Zacks Consensus Estimate for first-quarter earnings hints at a more than 100% drop from the year-ago reported number.
The Aluminum segment is likely to have put up a weak show due to softness in shipments, thanks to expectations of lower trading volume.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Alcoa this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Alcoa has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at a loss of 5 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Alcoa currently carries a Zacks Rank #3.
Highlights of Q4 Earnings
Alcoa incurred an adjusted loss of 70 cents per share in the fourth quarter of 2022, narrower than the Zacks Consensus Estimate of a loss of 85 cents. In the year-ago period, the company had reported adjusted earnings of $2.50. Total revenues of $2.66 billion surpassed the Zacks Consensus Estimate by 2.67%. The top line jumped 25.6% year over year.
Stocks to Consider
Here are some companies you may want to consider from the Zacks Industrial Products sector, as our model shows that these have the right combination of elements to post an earnings beat this season:
A. O. Smith AOS has an Earnings ESP of +5.78% and a Zacks Rank #2. The company is scheduled to release first-quarter 2023 results on Apr 27.
The Zacks Consensus Estimate for A. O. Smith’s first-quarter earnings has remained steady in the past 60 days. The company pulled off a trailing four-quarter earnings surprise of 3.2%, on average.
Graco Inc. GGG has an Earnings ESP of +2.44% and a Zacks Rank #3. The company is slated to release first-quarter 2023 results on Apr 26.
The Zacks Consensus Estimate for Graco’s first-quarter earnings has remained steady in the past 60 days. The company delivered a trailing four-quarter earnings surprise of 0.2%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation AA is scheduled to release first-quarter 2023 results on Apr 19, after market close. Alcoa Price and EPS Surprise Alcoa price-eps-surprise | Alcoa Quote Factors to Note Lower prices in Alumina and Aluminum segments are likely to have weighed on AA’s top line in the first quarter. Weakness in Alumina shipments due to the partial curtailment of the San Ciprian refinery and lower bauxite quality at the Australian refineries is likely to have impacted AA’s first-quarter performance. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report Graco Inc. (GGG) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Corporation AA is scheduled to release first-quarter 2023 results on Apr 19, after market close. Alcoa Price and EPS Surprise Alcoa price-eps-surprise | Alcoa Quote Factors to Note Lower prices in Alumina and Aluminum segments are likely to have weighed on AA’s top line in the first quarter. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report A. O. Smith Corporation (AOS) : Free Stock Analysis Report Graco Inc. (GGG) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Corporation AA is scheduled to release first-quarter 2023 results on Apr 19, after market close. Alcoa Price and EPS Surprise Alcoa price-eps-surprise | Alcoa Quote Factors to Note Lower prices in Alumina and Aluminum segments are likely to have weighed on AA’s top line in the first quarter. | Alcoa Corporation AA is scheduled to release first-quarter 2023 results on Apr 19, after market close. Alcoa Price and EPS Surprise Alcoa price-eps-surprise | Alcoa Quote Factors to Note Lower prices in Alumina and Aluminum segments are likely to have weighed on AA’s top line in the first quarter. Weakness in Alumina shipments due to the partial curtailment of the San Ciprian refinery and lower bauxite quality at the Australian refineries is likely to have impacted AA’s first-quarter performance. |
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525.0 | 2023-04-13 00:00:00 UTC | AA June 2nd Options Begin Trading | AA | https://www.nasdaq.com/articles/aa-june-2nd-options-begin-trading | Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 2nd contracts and identified one put and one call contract of particular interest.
The put contract at the $40.00 strike price has a current bid of $2.92. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $40.00, but will also collect the premium, putting the cost basis of the shares at $37.08 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $40.55/share today.
Because the $40.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 7.30% return on the cash commitment, or 53.29% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $40.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $41.00 strike price has a current bid of $3.10. If an investor was to purchase shares of AA stock at the current price level of $40.55/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $41.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.75% if the stock gets called away at the June 2nd expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $41.00 strike highlighted in red:
Considering the fact that the $41.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 7.64% boost of extra return to the investor, or 55.81% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 250 trading day closing values as well as today's price of $40.55) to be 65%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $41.00 strike highlighted in red: Considering the fact that the $41.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2nd expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $41.00 strike highlighted in red: Considering the fact that the $41.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2nd expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $41.00 strike highlighted in red: Considering the fact that the $41.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2nd expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 2nd contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 2nd contracts and identified one put and one call contract of particular interest. Below is a chart showing AA's trailing twelve month trading history, with the $41.00 strike highlighted in red: Considering the fact that the $41.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2nd expiration. |
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526.0 | 2023-04-11 00:00:00 UTC | Market Awaits Consumer Price Index Numbers | AA | https://www.nasdaq.com/articles/market-awaits-consumer-price-index-numbers | We’re still mostly flat to start another day of trading, which suggests tomorrow morning’s Consumer Price Index (CPI) report for March is what market participants are awaiting before pushing or pulling markets in any particular direction. As we’ve already pointed out yesterday, an Inflation Rate of +6% in February looks to take on a 5-handle for the first time since September of 2021.
The only index looking to creep ahead of the CPI number is the small-cap Russell 2000, but this may be in the service of a realignment of small-cap stocks relative to the rest of equities, which had gotten out of whack over the past few weeks. This was likely in line with fears that the regional bank crisis was more meaningful with smaller growth names, and the hedge was against any contagion in that space. But with that threat seemingly having abated by now, small-caps are now moving to where the Dow, Nasdaq and S&P 500 have been trading for the past week or two.
It’s not just CPI results we’re awaiting, either: the Producer Price Index (PPI) comes out Thursday, along with Weekly Jobless Claims — which are now readjusted to include the new climate of heavier layoffs, and not just in Tech — and Retail Sales results on Friday. The two main economic pillars that have looked resistant to higher interest rates have been the labor market and consumer spending. Both of these will have been addressed as of the month of March by the end of this week.
Let us not forget Q1 earnings season, either. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. Now there’s more of a trickle into the big Wall Street banks — JPMorgan JPM, Citigroup C and Wells Fargo WFC — which report on Friday. Delta Air Lines DAL reports a day earlier, and Paris-based luxury retailer LVMH LVMUY a day earlier than that.
On the labor force aspect of things, Goldman Sachs is out this morning with a report explaining how labor supply in the U.S. has fully recovered to pre-Covid trends, three years after a massive crater of layoffs took a robust American economy into a deep but short-lived recession. Higher wages welcomed many workers back into the fold over time (which helped inflation get its hooks in the economy), but now, according to Goldman, with more labor supply we’re now seeing lower wage gains — and this will assist in bringing inflation down.
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Wells Fargo & Company (WFC) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Citigroup Inc. (C) : Free Stock Analysis Report
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
Alcoa (AA) : Free Stock Analysis Report
LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. The two main economic pillars that have looked resistant to higher interest rates have been the labor market and consumer spending. | Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. Now there’s more of a trickle into the big Wall Street banks — JPMorgan JPM, Citigroup C and Wells Fargo WFC — which report on Friday. | Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. We’re still mostly flat to start another day of trading, which suggests tomorrow morning’s Consumer Price Index (CPI) report for March is what market participants are awaiting before pushing or pulling markets in any particular direction. | Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. And in a new FREE report, Zacks is revealing those stocks to you. |
||
527.0 | 2023-04-11 00:00:00 UTC | Flat Markets Bespeak Importance of CPI Data | AA | https://www.nasdaq.com/articles/flat-markets-bespeak-importance-of-cpi-data | Tuesday, April 11th, 2023
We’re still mostly flat to start another day of trading, which suggests tomorrow morning’s Consumer Price Index (CPI) report for March is what market participants are awaiting before pushing or pulling markets in any particular direction. As we’ve already pointed out yesterday, an Inflation Rate of +6% in February looks to take on a 5-handle for the first time since September of 2021.
The only index looking to creep ahead of the CPI number is the small-cap Russell 2000, but this may be in the service of a realignment of small-cap stocks relative to the rest of equities, which had gotten out of whack over the past few weeks. This was likely in line with fears that the regional bank crisis was more meaningful with smaller growth names, and the hedge was against any contagion in that space. But with that threat seemingly having abated by now, small-caps are now moving to where the Dow, Nasdaq and S&P 500 have been trading for the past week or two.
It’s not just CPI results we’re awaiting, either: the Producer Price Index (PPI) comes out Thursday, along with Weekly Jobless Claims — which are now readjusted to include the new climate of heavier layoffs, and not just in Tech — and Retail Sales results on Friday. The two main economic pillars that have looked resistant to higher interest rates have been the labor market and consumer spending. Both of these will have been addressed as of the month of March by the end of this week.
Let us not forget Q1 earnings season, either. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. Now there’s more of a trickle into the big Wall Street banks — JPMorgan JPM, Citigroup C and Wells Fargo WFC — which report on Friday. Delta Air Lines DAL reports a day earlier, and Paris-based luxury retailer LVMH LVMUY a day earlier than that.
On the labor force aspect of things, Goldman Sachs is out this morning with a report explaining how labor supply in the U.S. has fully recovered to pre-Covid trends, three years after a massive crater of layoffs took a robust American economy into a deep but short-lived recession. Higher wages welcomed many workers back into the fold over time (which helped inflation get its hooks in the economy), but now, according to Goldman, with more labor supply we’re now seeing lower wage gains — and this will assist in bringing inflation down.
Questions or comments about this article and/or its author? Click here>>
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It's undeniable. The metaverse is gaining steam every day. Just follow the money. Google. Microsoft. Adobe. Nike. Facebook even rebranded itself as Meta because Mark Zuckerberg believes the metaverse is the next iteration of the internet. The inevitable result? Many investors will get rich as the metaverse evolves. What do they know that you don't? They’re aware of the companies best poised to grow as the metaverse does. And in a new FREE report, Zacks is revealing those stocks to you. This week, you can download, The Metaverse - What is it? And How to Profit with These 5 Pioneering Stocks. It reveals specific stocks set to skyrocket as this emerging technology develops and expands. Don't miss your chance to access it for free with no obligation.
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Wells Fargo & Company (WFC) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Citigroup Inc. (C) : Free Stock Analysis Report
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
Alcoa (AA) : Free Stock Analysis Report
LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. Now there’s more of a trickle into the big Wall Street banks — JPMorgan JPM, Citigroup C and Wells Fargo WFC — which report on Friday. | Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. Now there’s more of a trickle into the big Wall Street banks — JPMorgan JPM, Citigroup C and Wells Fargo WFC — which report on Friday. | Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. Click here>> Just Released: Free Report Reveals Little-Known Strategies to Help Profit from the $30 Trillion Metaverse Boom It's undeniable. | Click to get this free report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report LVMH-Moet Hennessy Louis Vuitton SA (LVMUY) : Free Stock Analysis Report To read this article on Zacks.com click here. In the olden days, before Alcoa AA split up, its early quarterly report was considered to have kicked off a new season of earnings results. And in a new FREE report, Zacks is revealing those stocks to you. |
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528.0 | 2023-04-06 00:00:00 UTC | Alcoa (AA) Stock Sinks As Market Gains: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-stock-sinks-as-market-gains%3A-what-you-should-know-4 | Alcoa (AA) closed at $39.16 in the latest trading session, marking a -0.68% move from the prior day. This move lagged the S&P 500's daily gain of 0.36%. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 1.91%.
Heading into today, shares of the bauxite, alumina and aluminum products company had lost 22.72% over the past month, lagging the Industrial Products sector's loss of 8.68% and the S&P 500's gain of 1.24% in that time.
Alcoa will be looking to display strength as it nears its next earnings release, which is expected to be April 19, 2023. The company is expected to report EPS of -$0.05, down 101.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.66 billion, down 19.17% from the prior-year quarter.
AA's full-year Zacks Consensus Estimates are calling for earnings of $2.09 per share and revenue of $10.73 billion. These results would represent year-over-year changes of -56.73% and -13.82%, respectively.
It is also important to note the recent changes to analyst estimates for Alcoa. Recent revisions tend to reflect the latest near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 13.35% lower. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Alcoa currently has a Forward P/E ratio of 18.84. This valuation marks a premium compared to its industry's average Forward P/E of 11.39.
Also, we should mention that AA has a PEG ratio of 6.32. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. AA's industry had an average PEG ratio of 6.25 as of yesterday's close.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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Alcoa (AA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed at $39.16 in the latest trading session, marking a -0.68% move from the prior day. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.09 per share and revenue of $10.73 billion. Also, we should mention that AA has a PEG ratio of 6.32. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa (AA) closed at $39.16 in the latest trading session, marking a -0.68% move from the prior day. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.09 per share and revenue of $10.73 billion. | Alcoa (AA) closed at $39.16 in the latest trading session, marking a -0.68% move from the prior day. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.09 per share and revenue of $10.73 billion. Also, we should mention that AA has a PEG ratio of 6.32. | Alcoa (AA) closed at $39.16 in the latest trading session, marking a -0.68% move from the prior day. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.09 per share and revenue of $10.73 billion. Also, we should mention that AA has a PEG ratio of 6.32. |
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529.0 | 2023-04-06 00:00:00 UTC | Guru Fundamental Report for AA | AA | https://www.nasdaq.com/articles/guru-fundamental-report-for-aa-0 | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. This deep value model looks for inexpensive stocks that could be potential takeover targets.
ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. The rating using this strategy is 89% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
SECTOR: PASS
QUALITY: PASS
ACQUIRER'S MULTIPLE FAIL
Detailed Analysis of ALCOA CORP
AA Guru Analysis
AA Fundamental Analysis
More Information on Tobias Carlisle
Tobias Carlisle Portfolio
About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. He is the author of "The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market" and the founder of Acquirer's Funds. He is also the author of "Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations" and co-author of Quantitative Value: "A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors" Tobias is originally from Australia, where he worked an an analyst at an activist hedge fund and was a lawyer specializing in mergers and acquisitions.
Additional Research Links
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Harry Browne Permanent Portfolio
Ray Dalio All Weather Portfolio
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. | Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. Below is Validea's guru fundamental report for ALCOA CORP (AA). | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. |
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530.0 | 2023-04-06 00:00:00 UTC | May 26th Options Now Available For Alcoa (AA) | AA | https://www.nasdaq.com/articles/may-26th-options-now-available-for-alcoa-aa | Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the May 26th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 26th contracts and identified one put and one call contract of particular interest.
The put contract at the $37.00 strike price has a current bid of $2.51. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $37.00, but will also collect the premium, putting the cost basis of the shares at $34.49 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $38.53/share today.
Because the $37.00 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.78% return on the cash commitment, or 49.52% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $37.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $39.00 strike price has a current bid of $3.10. If an investor was to purchase shares of AA stock at the current price level of $38.53/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $39.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 9.27% if the stock gets called away at the May 26th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $39.00 strike highlighted in red:
Considering the fact that the $39.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 8.05% boost of extra return to the investor, or 58.73% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $38.53) to be 65%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
Top YieldBoost Calls of the S&P 500 »
Also see:
WASH Next Dividend Date
COR Price Target
UFPI Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $39.00 strike highlighted in red: Considering the fact that the $39.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the May 26th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $39.00 strike highlighted in red: Considering the fact that the $39.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the May 26th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $39.00 strike highlighted in red: Considering the fact that the $39.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the May 26th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 26th contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 26th contracts and identified one put and one call contract of particular interest. Below is a chart showing AA's trailing twelve month trading history, with the $39.00 strike highlighted in red: Considering the fact that the $39.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the May 26th expiration. |
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531.0 | 2023-04-06 00:00:00 UTC | Pre-Market Most Active for Apr 6, 2023 : AMC, TQQQ, SQQQ, TSLA, AI, QQQ, TSLL, IFRX, BBAI, AA, PLTR, LYG | AA | https://www.nasdaq.com/articles/pre-market-most-active-for-apr-6-2023-%3A-amc-tqqq-sqqq-tsla-ai-qqq-tsll-ifrx-bbai-aa-pltr | The NASDAQ 100 Pre-Market Indicator is down -53.56 to 12,913.64. The total Pre-Market volume is currently 38,638,388 shares traded.
The following are the most active stocks for the pre-market session:
AMC Entertainment Holdings, Inc. (AMC) is +0.59 at $4.64, with 4,508,357 shares traded. AMC's current last sale is 257.78% of the target price of $1.8.
ProShares UltraPro QQQ (TQQQ) is -0.25 at $26.64, with 2,951,436 shares traded. This represents a 65.47% increase from its 52 Week Low.
ProShares UltraPro Short QQQ (SQQQ) is +0.29 at $31.13, with 2,718,824 shares traded. This represents a 6.68% increase from its 52 Week Low.
Tesla, Inc. (TSLA) is -2.16 at $183.36, with 1,727,615 shares traded. TSLA's current last sale is 82.22% of the target price of $223.
C3.ai, Inc. (AI) is +0.2415 at $21.33, with 725,583 shares traded. AI's current last sale is 133.32% of the target price of $16.
Invesco QQQ Trust, Series 1 (QQQ) is -0.95 at $314.97, with 627,049 shares traded. This represents a 23.88% increase from its 52 Week Low.
Direxion Daily TSLA Bull 1.5X Shares (TSLL) is -0.2 at $10.60, with 600,365 shares traded. This represents a 128.45% increase from its 52 Week Low.
InflaRx N.V. (IFRX) is -0.41 at $5.69, with 523,247 shares traded., following a 52-week high recorded in prior regular session.
BigBear.ai, Inc. (BBAI) is +0.04 at $2.24, with 480,780 shares traded. BBAI's current last sale is 49.78% of the target price of $4.5.
Alcoa Corporation (AA) is +0.17 at $39.60, with 467,303 shares traded. AA's current last sale is 78.42% of the target price of $50.5.
Palantir Technologies Inc. (PLTR) is +0.06 at $8.04, with 446,805 shares traded. PLTR's current last sale is 100.5% of the target price of $8.
Lloyds Banking Group Plc (LYG) is +0.03 at $2.40, with 383,903 shares traded. LYG's current last sale is 80% of the target price of $3.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation (AA) is +0.17 at $39.60, with 467,303 shares traded. AA's current last sale is 78.42% of the target price of $50.5. ProShares UltraPro Short QQQ (SQQQ) is +0.29 at $31.13, with 2,718,824 shares traded. | Alcoa Corporation (AA) is +0.17 at $39.60, with 467,303 shares traded. AA's current last sale is 78.42% of the target price of $50.5. AMC's current last sale is 257.78% of the target price of $1.8. | Alcoa Corporation (AA) is +0.17 at $39.60, with 467,303 shares traded. AA's current last sale is 78.42% of the target price of $50.5. The total Pre-Market volume is currently 38,638,388 shares traded. | AA's current last sale is 78.42% of the target price of $50.5. Alcoa Corporation (AA) is +0.17 at $39.60, with 467,303 shares traded. PLTR's current last sale is 100.5% of the target price of $8. |
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532.0 | 2023-04-04 00:00:00 UTC | Unusual Put Option Trade in Alcoa (AA) Worth $421.36K | AA | https://www.nasdaq.com/articles/unusual-put-option-trade-in-alcoa-aa-worth-%24421.36k | On April 4, 2023 at 11:04:31 ET an unusually large $421.36K block of Put contracts in Alcoa (AA) was bought, with a strike price of $41.00 / share, expiring in 17 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 91.84 percentile of all recent large trades made in AA options.
This trade was first picked up on Fintel's real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 35.86% Upside
As of March 30, 2023, the average one-year price target for Alcoa is $56.75. The forecasts range from a low of $42.42 to a high of $68.25. The average price target represents an increase of 35.86% from its latest reported closing price of $41.77.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is $12,227MM, a decrease of 1.80%. The projected annual non-GAAP EPS is $3.60.
What is the Fund Sentiment?
There are 1047 funds or institutions reporting positions in Alcoa. This is a decrease of 6 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.23%, an increase of 17.91%. Total shares owned by institutions increased in the last three months by 6.96% to 169,936K shares. The put/call ratio of AA is 1.36, indicating a bearish outlook.
What are Large Shareholders Doing?
Bank of New York Mellon holds 5,974K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 6,107K shares, representing a decrease of 2.23%. The firm decreased its portfolio allocation in AA by 77.64% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,464K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 5,258K shares, representing an increase of 3.77%. The firm increased its portfolio allocation in AA by 22.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,375K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 5,357K shares, representing an increase of 0.34%. The firm increased its portfolio allocation in AA by 25.18% over the last quarter.
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main holds 4,578K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 95K shares, representing an increase of 97.93%. The firm increased its portfolio allocation in AA by 5,918.07% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,558K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,568K shares, representing a decrease of 0.21%. The firm increased its portfolio allocation in AA by 24.79% over the last quarter.
Alcoa Declares $0.10 Dividend
On February 23, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of March 7, 2023 received the payment on March 23, 2023. Previously, the company paid $0.10 per share.
At the current share price of $41.77 / share, the stock's dividend yield is 0.96%. Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.56 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.70. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | On April 4, 2023 at 11:04:31 ET an unusually large $421.36K block of Put contracts in Alcoa (AA) was bought, with a strike price of $41.00 / share, expiring in 17 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 91.84 percentile of all recent large trades made in AA options. The projected annual non-GAAP EPS is $3.60. | On April 4, 2023 at 11:04:31 ET an unusually large $421.36K block of Put contracts in Alcoa (AA) was bought, with a strike price of $41.00 / share, expiring in 17 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 91.84 percentile of all recent large trades made in AA options. The projected annual non-GAAP EPS is $3.60. | On April 4, 2023 at 11:04:31 ET an unusually large $421.36K block of Put contracts in Alcoa (AA) was bought, with a strike price of $41.00 / share, expiring in 17 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 91.84 percentile of all recent large trades made in AA options. The projected annual non-GAAP EPS is $3.60. | On April 4, 2023 at 11:04:31 ET an unusually large $421.36K block of Put contracts in Alcoa (AA) was bought, with a strike price of $41.00 / share, expiring in 17 days (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.36 sigmas above the mean, placing it in the 91.84 percentile of all recent large trades made in AA options. The projected annual non-GAAP EPS is $3.60. |
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533.0 | 2023-03-31 00:00:00 UTC | Alcoa (AA) Outpaces Stock Market Gains: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-outpaces-stock-market-gains%3A-what-you-should-know-5 | Alcoa (AA) closed at $42.56 in the latest trading session, marking a +1.92% move from the prior day. This change outpaced the S&P 500's 1.44% gain on the day. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 5.21%.
Heading into today, shares of the bauxite, alumina and aluminum products company had lost 22.22% over the past month, lagging the Industrial Products sector's loss of 2.52% and the S&P 500's gain of 2.28% in that time.
Investors will be hoping for strength from Alcoa as it approaches its next earnings release, which is expected to be April 19, 2023. In that report, analysts expect Alcoa to post earnings of -$0.05 per share. This would mark a year-over-year decline of 101.63%. Meanwhile, our latest consensus estimate is calling for revenue of $2.7 billion, down 18.16% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.11 per share and revenue of $10.64 billion, which would represent changes of -56.31% and -14.52%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alcoa. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the past month, the Zacks Consensus EPS estimate has moved 12.53% lower. Alcoa currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Alcoa is holding a Forward P/E ratio of 19.77. For comparison, its industry has an average Forward P/E of 11.72, which means Alcoa is trading at a premium to the group.
We can also see that AA currently has a PEG ratio of 6.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Metal Products - Distribution stocks are, on average, holding a PEG ratio of 5.71 based on yesterday's closing prices.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 14, which puts it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Alcoa (AA) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed at $42.56 in the latest trading session, marking a +1.92% move from the prior day. We can also see that AA currently has a PEG ratio of 6.63. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa (AA) closed at $42.56 in the latest trading session, marking a +1.92% move from the prior day. We can also see that AA currently has a PEG ratio of 6.63. | Alcoa (AA) closed at $42.56 in the latest trading session, marking a +1.92% move from the prior day. We can also see that AA currently has a PEG ratio of 6.63. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed at $42.56 in the latest trading session, marking a +1.92% move from the prior day. We can also see that AA currently has a PEG ratio of 6.63. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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534.0 | 2023-03-30 00:00:00 UTC | AA May 12th Options Begin Trading | AA | https://www.nasdaq.com/articles/aa-may-12th-options-begin-trading | Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 12th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 12th contracts and identified one put and one call contract of particular interest.
The put contract at the $42.00 strike price has a current bid of $3.00. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $42.00, but will also collect the premium, putting the cost basis of the shares at $39.00 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $42.30/share today.
Because the $42.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 7.14% return on the cash commitment, or 60.63% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $42.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $43.00 strike price has a current bid of $3.05. If an investor was to purchase shares of AA stock at the current price level of $42.30/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $43.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.87% if the stock gets called away at the May 12th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $43.00 strike highlighted in red:
Considering the fact that the $43.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 7.21% boost of extra return to the investor, or 61.20% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $42.30) to be 65%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $43.00 strike highlighted in red: Considering the fact that the $43.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 12th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $43.00 strike highlighted in red: Considering the fact that the $43.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 12th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $43.00 strike highlighted in red: Considering the fact that the $43.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 12th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 12th contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 12th contracts and identified one put and one call contract of particular interest. Below is a chart showing AA's trailing twelve month trading history, with the $43.00 strike highlighted in red: Considering the fact that the $43.00 strike represents an approximate 2% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 12th expiration. |
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535.0 | 2023-03-24 00:00:00 UTC | Alcoa (AA) Stock Sinks As Market Gains: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-stock-sinks-as-market-gains%3A-what-you-should-know-3 | Alcoa (AA) closed the most recent trading day at $40.08, moving -0.37% from the previous trading session. This change lagged the S&P 500's daily gain of 0.56%. Meanwhile, the Dow gained 0.41%, and the Nasdaq, a tech-heavy index, added 1.35%.
Heading into today, shares of the bauxite, alumina and aluminum products company had lost 16.12% over the past month, lagging the Industrial Products sector's loss of 5.56% and the S&P 500's loss of 1.48% in that time.
Alcoa will be looking to display strength as it nears its next earnings release. In that report, analysts expect Alcoa to post earnings of -$0.07 per share. This would mark a year-over-year decline of 102.29%. Our most recent consensus estimate is calling for quarterly revenue of $2.65 billion, down 19.55% from the year-ago period.
AA's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $10.52 billion. These results would represent year-over-year changes of -51.35% and -15.55%, respectively.
Investors should also note any recent changes to analyst estimates for Alcoa. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 2.59% lower within the past month. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Alcoa is holding a Forward P/E ratio of 17.1. This represents a premium compared to its industry's average Forward P/E of 11.68.
Also, we should mention that AA has a PEG ratio of 5.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Metal Products - Distribution stocks are, on average, holding a PEG ratio of 5.24 based on yesterday's closing prices.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 33, which puts it in the top 14% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed the most recent trading day at $40.08, moving -0.37% from the previous trading session. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $10.52 billion. Also, we should mention that AA has a PEG ratio of 5.74. | Alcoa (AA) closed the most recent trading day at $40.08, moving -0.37% from the previous trading session. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $10.52 billion. Also, we should mention that AA has a PEG ratio of 5.74. | Alcoa (AA) closed the most recent trading day at $40.08, moving -0.37% from the previous trading session. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $10.52 billion. Also, we should mention that AA has a PEG ratio of 5.74. | Alcoa (AA) closed the most recent trading day at $40.08, moving -0.37% from the previous trading session. AA's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $10.52 billion. Also, we should mention that AA has a PEG ratio of 5.74. |
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536.0 | 2023-03-23 00:00:00 UTC | May 5th Options Now Available For Alcoa (AA) | AA | https://www.nasdaq.com/articles/may-5th-options-now-available-for-alcoa-aa | Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 5th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 5th contracts and identified one put and one call contract of particular interest.
The put contract at the $41.00 strike price has a current bid of $3.05. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $41.00, but will also collect the premium, putting the cost basis of the shares at $37.95 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $41.41/share today.
Because the $41.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 7.44% return on the cash commitment, or 63.15% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $41.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $42.00 strike price has a current bid of $3.15. If an investor was to purchase shares of AA stock at the current price level of $41.41/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $42.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 9.03% if the stock gets called away at the May 5th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $42.00 strike highlighted in red:
Considering the fact that the $42.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 7.61% boost of extra return to the investor, or 64.57% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $41.41) to be 65%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $42.00 strike highlighted in red: Considering the fact that the $42.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 5th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $42.00 strike highlighted in red: Considering the fact that the $42.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 5th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $42.00 strike highlighted in red: Considering the fact that the $42.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 5th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 5th contracts and identified one put and one call contract of particular interest. | Below is a chart showing AA's trailing twelve month trading history, with the $42.00 strike highlighted in red: Considering the fact that the $42.00 strike represents an approximate 1% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the May 5th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new May 5th contracts and identified one put and one call contract of particular interest. |
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537.0 | 2023-03-21 00:00:00 UTC | Guru Fundamental Report for AA | AA | https://www.nasdaq.com/articles/guru-fundamental-report-for-aa | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. This deep value model looks for inexpensive stocks that could be potential takeover targets.
ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. The rating using this strategy is 89% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
SECTOR: PASS
QUALITY: PASS
ACQUIRER'S MULTIPLE FAIL
Detailed Analysis of ALCOA CORP
AA Guru Analysis
AA Fundamental Analysis
More Information on Tobias Carlisle
Tobias Carlisle Portfolio
About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. He is the author of "The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market" and the founder of Acquirer's Funds. He is also the author of "Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations" and co-author of Quantitative Value: "A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors" Tobias is originally from Australia, where he worked an an analyst at an activist hedge fund and was a lawyer specializing in mergers and acquisitions.
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. | Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. Below is Validea's guru fundamental report for ALCOA CORP (AA). | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. |
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538.0 | 2023-03-20 00:00:00 UTC | Noteworthy ETF Outflows: MDYV, RGA, LEA, AA | AA | https://www.nasdaq.com/articles/noteworthy-etf-outflows%3A-mdyv-rga-lea-aa | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $360.2 million dollar outflow -- that's a 13.3% decrease week over week (from 43,100,000 to 37,350,000). Among the largest underlying components of MDYV, in trading today Reinsurance Group of America, Inc. (Symbol: RGA) is up about 4.3%, Lear Corp. (Symbol: LEA) is up about 1.8%, and Alcoa Corporation (Symbol: AA) is up by about 3.4%. For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average:
Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $63.78. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Free Report: Top 8%+ Dividends (paid monthly)
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of MDYV, in trading today Reinsurance Group of America, Inc. (Symbol: RGA) is up about 4.3%, Lear Corp. (Symbol: LEA) is up about 1.8%, and Alcoa Corporation (Symbol: AA) is up by about 3.4%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of MDYV, in trading today Reinsurance Group of America, Inc. (Symbol: RGA) is up about 4.3%, Lear Corp. (Symbol: LEA) is up about 1.8%, and Alcoa Corporation (Symbol: AA) is up by about 3.4%. For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $63.78. Free Report: Top 8%+ Dividends (paid monthly) Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. | Among the largest underlying components of MDYV, in trading today Reinsurance Group of America, Inc. (Symbol: RGA) is up about 4.3%, Lear Corp. (Symbol: LEA) is up about 1.8%, and Alcoa Corporation (Symbol: AA) is up by about 3.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $360.2 million dollar outflow -- that's a 13.3% decrease week over week (from 43,100,000 to 37,350,000). For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $63.78. | Among the largest underlying components of MDYV, in trading today Reinsurance Group of America, Inc. (Symbol: RGA) is up about 4.3%, Lear Corp. (Symbol: LEA) is up about 1.8%, and Alcoa Corporation (Symbol: AA) is up by about 3.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $360.2 million dollar outflow -- that's a 13.3% decrease week over week (from 43,100,000 to 37,350,000). For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $63.78. |
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539.0 | 2023-03-20 00:00:00 UTC | Pre-Market Most Active for Mar 20, 2023 : FRC, TQQQ, PACW, NYCB, UBS, SQQQ, PDD, AA, VTRS, GM, TSLA, BAC | AA | https://www.nasdaq.com/articles/pre-market-most-active-for-mar-20-2023-%3A-frc-tqqq-pacw-nycb-ubs-sqqq-pdd-aa-vtrs-gm-tsla | The NASDAQ 100 Pre-Market Indicator is down -2.55 to 12,517.33. The total Pre-Market volume is currently 61,999,239 shares traded.
The following are the most active stocks for the pre-market session:
FIRST REPUBLIC BANK (FRC) is -4.26 at $18.77, with 7,986,469 shares traded. FRC's current last sale is 13.41% of the target price of $140.
ProShares UltraPro QQQ (TQQQ) is -0.05 at $24.52, with 6,815,301 shares traded. This represents a 52.3% increase from its 52 Week Low.
PacWest Bancorp (PACW) is +1.9585 at $11.24, with 4,778,852 shares traded. PACW's current last sale is 36.25% of the target price of $31.
New York Community Bancorp, Inc. (NYCB) is +1.81 at $8.35, with 4,388,644 shares traded. NYCB's current last sale is 83.5% of the target price of $10.
UBS AG (UBS) is -0.56 at $17.64, with 3,741,005 shares traded. UBS's current last sale is 78.05% of the target price of $22.6.
ProShares UltraPro Short QQQ (SQQQ) is +0.12 at $34.61, with 3,488,357 shares traded. This represents a 11.03% increase from its 52 Week Low.
PDD Holdings Inc. (PDD) is -12.94 at $79.00, with 2,537,970 shares traded. As reported by Zacks, the current mean recommendation for PDD is in the "buy range".
Alcoa Corporation (AA) is +0.338 at $39.49, with 2,148,260 shares traded. AA's current last sale is 76.68% of the target price of $51.5.
Viatris Inc. (VTRS) is unchanged at $9.43, with 2,107,491 shares traded. VTRS's current last sale is 67.36% of the target price of $14.
General Motors Company (GM) is -0.05 at $33.33, with 1,830,347 shares traded. GM's current last sale is 72.46% of the target price of $46.
Tesla, Inc. (TSLA) is -2.12 at $178.01, with 1,422,049 shares traded. TSLA's current last sale is 80.91% of the target price of $220.
Bank of America Corporation (BAC) is -0.02 at $27.80, with 1,306,827 shares traded. BAC's current last sale is 73.16% of the target price of $38.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation (AA) is +0.338 at $39.49, with 2,148,260 shares traded. AA's current last sale is 76.68% of the target price of $51.5. ProShares UltraPro QQQ (TQQQ) is -0.05 at $24.52, with 6,815,301 shares traded. | Alcoa Corporation (AA) is +0.338 at $39.49, with 2,148,260 shares traded. AA's current last sale is 76.68% of the target price of $51.5. FRC's current last sale is 13.41% of the target price of $140. | Alcoa Corporation (AA) is +0.338 at $39.49, with 2,148,260 shares traded. AA's current last sale is 76.68% of the target price of $51.5. The total Pre-Market volume is currently 61,999,239 shares traded. | Alcoa Corporation (AA) is +0.338 at $39.49, with 2,148,260 shares traded. AA's current last sale is 76.68% of the target price of $51.5. The NASDAQ 100 Pre-Market Indicator is down -2.55 to 12,517.33. |
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540.0 | 2023-03-16 00:00:00 UTC | METALS-London copper rebounds as Credit Suisse gets lifeline, China demand | AA | https://www.nasdaq.com/articles/metals-london-copper-rebounds-as-credit-suisse-gets-lifeline-china-demand | Updates prices, adds quotes
March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China.
Credit Swiss CSGN.S, whose shares plunged 30% on Wednesday to a record low amid concerns of its financial strength, planned to borrow from the Swiss National Bank to boost liquidity, shortly after Swiss authorities pledged support to the lender.
Three-month copper on the London Metal Exchange CMCU3 rose 0.9% to $8,581.50 a tonne by 0512 GMT. The contract in the previous session hit $8,489.50 a tonne, its lowest since Jan. 6, on Credit Suisse's rout.
A sign of demand picking up in top consumer China also supported prices, with Yangshan copper premium SMM-CUYP-CN - which reflects demand for imported copper into China - rose to $35 a tonne on Wednesday, its highest since Jan. 9.
"(Copper) looks cheap (and was) unduly sold off," said a metals trader, adding that physical consumers were buying when prices fell, but trading volume was tepid on risk aversion amid uncertainty in the global banking sector.
LME aluminium CMAL3 rose 0.6% to $2,291 a tonne, zinc CMZN3 eased 0.5% to $2,853 a tonne, lead CMPB3 advanced 0.5% to $2,080 a tonne while tin CMSN3 lost 2.2% to $21,960 a tonne.
The premium of SHFE first-month aluminium over the three-month contract was at 25 yuan a tonne, the first premium since Jan. 5, indicating tightening nearby supplies.
The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges.
The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 fell 2.7% to 66,950 yuan ($9,700.09) a tonne, tracking overnight losses in London and dropping to as low as 66,590 yuan a tonne, its lowest since Jan. 10.
SHFE aluminium SAFcv1 declined 1.1% to 18,150 yuan a tonne, nickel SNIcv1 fell 2.9% to 172,850 yuan a tonne, zinc SZNcv1 shed 2.6% to 22,285 yuan a tonne and tin SSNcv1 tumbled as much as 4.5% to 178,760 yuan a tonne, its lowest since November last year.
For the top stories in metals and other news, click
TOP/MTL or MET/L
($1 = 6.9020 yuan)
(Reporting by Mai Nguyen in Hanoi; Editing by Rashmi Aich)
(([email protected]; Reuters Messaging: [email protected]))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Updates prices, adds quotes March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China. "(Copper) looks cheap (and was) unduly sold off," said a metals trader, adding that physical consumers were buying when prices fell, but trading volume was tepid on risk aversion amid uncertainty in the global banking sector. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Updates prices, adds quotes March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China. A sign of demand picking up in top consumer China also supported prices, with Yangshan copper premium SMM-CUYP-CN - which reflects demand for imported copper into China - rose to $35 a tonne on Wednesday, its highest since Jan. 9. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. LME aluminium CMAL3 rose 0.6% to $2,291 a tonne, zinc CMZN3 eased 0.5% to $2,853 a tonne, lead CMPB3 advanced 0.5% to $2,080 a tonne while tin CMSN3 lost 2.2% to $21,960 a tonne. The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 fell 2.7% to 66,950 yuan ($9,700.09) a tonne, tracking overnight losses in London and dropping to as low as 66,590 yuan a tonne, its lowest since Jan. 10. | The Australian unit of U.S. aluminium producer Alcoa Corp AA.N announced a production cut at its Portland smelter in Victoria to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Updates prices, adds quotes March 16 (Reuters) - London copper prices bounced back on Thursday from a more than two-month low hit in the previous session, as authorities pledged liquidity support to Swiss bank Credit Suisse Group and consumption improved in top consumer China. The most-traded April copper contract on the Shanghai Futures Exchange SCFcv1 fell 2.7% to 66,950 yuan ($9,700.09) a tonne, tracking overnight losses in London and dropping to as low as 66,590 yuan a tonne, its lowest since Jan. 10. |
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541.0 | 2023-03-15 00:00:00 UTC | Shares of AA Now Oversold | AA | https://www.nasdaq.com/articles/shares-of-aa-now-oversold | In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $38.85 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of Alcoa Corporation, the RSI reading has hit 29.6 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 40.2, the RSI of Spot Gold is at 14.0, and the RSI of Spot Silver is presently 22.9. A bullish investor could look at AA's 29.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $39.48. Alcoa Corporation shares are currently trading off about 11.4% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | A bullish investor could look at AA's 29.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $38.85 per share. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $39.48. | In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $38.85 per share. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $39.48. A bullish investor could look at AA's 29.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. | In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $38.85 per share. A bullish investor could look at AA's 29.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $39.48. | In trading on Wednesday, shares of Alcoa Corporation (Symbol: AA) entered into oversold territory, changing hands as low as $38.85 per share. A bullish investor could look at AA's 29.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. Looking at a chart of one year performance (below), AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $39.48. |
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542.0 | 2023-03-14 00:00:00 UTC | New Strong Sell Stocks for March 14th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-march-14th-0 | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
CNX Resources Corporation CNX is a natural gas exploration and development company. The Zacks Consensus Estimate for its current year earnings has been revised 24.8% downward over the last 60 days.
CECO Environmental Corp. CECO provides solutions in industrial air quality, water treatment, and energy transition. The Zacks Consensus Estimate for its current year earnings has been revised 18.5% downward over the last 60 days.
Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 10% downward over the last 60 days.
View the entire Zacks Rank #5 List.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. This technology is on the verge of a massive breakthrough, one that could make hydrogen a major source of America's power. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: CNX Resources Corporation CNX is a natural gas exploration and development company. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: CNX Resources Corporation CNX is a natural gas exploration and development company. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CNX Resources Corporation. Alcoa Corporation AA produces and sells bauxite, alumina, and aluminum products. Today, you can download 7 Best Stocks for the Next 30 Days. |
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543.0 | 2023-03-14 00:00:00 UTC | Alcoa (AA) Stock Sinks As Market Gains: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-stock-sinks-as-market-gains%3A-what-you-should-know-2 | Alcoa (AA) closed the most recent trading day at $44.59, moving -0.27% from the previous trading session. This move lagged the S&P 500's daily gain of 1.68%. At the same time, the Dow added 1.06%, and the tech-heavy Nasdaq lost 1.7%.
Heading into today, shares of the bauxite, alumina and aluminum products company had lost 6.76% over the past month, lagging the Industrial Products sector's loss of 5.79% and the S&P 500's loss of 6.68% in that time.
Investors will be hoping for strength from Alcoa as it approaches its next earnings release. On that day, Alcoa is projected to report earnings of $0.04 per share, which would represent a year-over-year decline of 98.69%. Our most recent consensus estimate is calling for quarterly revenue of $2.65 billion, down 19.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.42 per share and revenue of $10.52 billion, which would represent changes of -49.9% and -15.55%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alcoa. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Alcoa is currently a Zacks Rank #5 (Strong Sell).
Valuation is also important, so investors should note that Alcoa has a Forward P/E ratio of 18.51 right now. This represents a premium compared to its industry's average Forward P/E of 11.93.
Investors should also note that AA has a PEG ratio of 5.99 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Metal Products - Distribution industry currently had an average PEG ratio of 5.71 as of yesterday's close.
The Metal Products - Distribution industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
To follow AA in the coming trading sessions, be sure to utilize Zacks.com.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed the most recent trading day at $44.59, moving -0.27% from the previous trading session. Investors should also note that AA has a PEG ratio of 5.99 right now. To follow AA in the coming trading sessions, be sure to utilize Zacks.com. | Alcoa (AA) closed the most recent trading day at $44.59, moving -0.27% from the previous trading session. Investors should also note that AA has a PEG ratio of 5.99 right now. To follow AA in the coming trading sessions, be sure to utilize Zacks.com. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa (AA) closed the most recent trading day at $44.59, moving -0.27% from the previous trading session. Investors should also note that AA has a PEG ratio of 5.99 right now. | Alcoa (AA) closed the most recent trading day at $44.59, moving -0.27% from the previous trading session. Investors should also note that AA has a PEG ratio of 5.99 right now. To follow AA in the coming trading sessions, be sure to utilize Zacks.com. |
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544.0 | 2023-03-14 00:00:00 UTC | Alcoa's Australia unit to cut output at Portland aluminium smelter | AA | https://www.nasdaq.com/articles/alcoas-australia-unit-to-cut-output-at-portland-aluminium-smelter | March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday the output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges.
Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday the output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday the output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday the output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday the output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
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545.0 | 2023-03-14 00:00:00 UTC | Alcoa Australia to cut Portland aluminium smelter output to 75% capacity | AA | https://www.nasdaq.com/articles/alcoa-australia-to-cut-portland-aluminium-smelter-output-to-75-capacity | Updates with detail on output cut, background
March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges.
Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture.
The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement.
"Our teams are focused on safely taking the production offline and working to restore stability across the facility," Rob Bear, vice president for operations at Alcoa's domestic business, said.
The cut in production will begin immediately, it said, without setting out a timeline on when the smelter would return to full capacity.
Alcoa's local unit had, earlier this year, flagged a 30% production cut at its partially owned Kwinana alumina refinery due to a gas supply shortfall.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement. "Our teams are focused on safely taking the production offline and working to restore stability across the facility," Rob Bear, vice president for operations at Alcoa's domestic business, said. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. Alcoa's local unit had, earlier this year, flagged a 30% production cut at its partially owned Kwinana alumina refinery due to a gas supply shortfall. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement. (Reporting by Rishav Chatterjee in Bengaluru; Editing by Dhanya Ann Thoppil) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Updates with detail on output cut, background March 15 (Reuters) - The Australian unit of U.S. aluminium producer Alcoa Corp AA.N said on Wednesday output at its Portland smelter in Victoria would be reduced to about 75% of its total capacity of 358,000 metric tonnes per year, citing instability and production challenges. Australia's Alumina Ltd AWC.AX owns a 40% stake in Alcoa Australia, which holds a 55% stake in the Portland Aluminium joint venture. The smelter, which was previously operating at about 95% of its total capacity, is contending with uncertainty and hurdles related to the production of rodded anodes necessary to transport electricity into the smelting pots, Alcoa Australia said in a statement. |
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546.0 | 2023-03-10 00:00:00 UTC | New Strong Sell Stocks for March 10th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-march-10th-0 | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
Amtech Systems ASYS is engaged in the manufacture of several items of capital equipment, one of which is patented, used by customers in the manufacture of semiconductors. The Zacks Consensus Estimate for its current year earnings has been revised 32.0% downward over the last 60 days.
Alto Ingredients ALTO is a producer of specialty alcohols and essential ingredients. The Zacks Consensus Estimate for its current year earnings has been revised almost 16.7% downward over the last 60 days.
Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 10.0% downward over the last 60 days.
View the entire Zacks Rank #5 List.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report Amtech Systems, Inc. (ASYS) : Free Stock Analysis Report Alto Ingredients, Inc. (ALTO) : Free Stock Analysis Report To read this article on Zacks.com click here. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Amtech Systems, Inc. (ASYS) : Free Stock Analysis Report Alto Ingredients, Inc. (ALTO) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 32.0% downward over the last 60 days. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Amtech Systems, Inc. (ASYS) : Free Stock Analysis Report Alto Ingredients, Inc. (ALTO) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 32.0% downward over the last 60 days. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Amtech Systems, Inc. (ASYS) : Free Stock Analysis Report Alto Ingredients, Inc. (ALTO) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year. |
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547.0 | 2023-03-09 00:00:00 UTC | Notable Thursday Option Activity: PACW, ICUI, AA | AA | https://www.nasdaq.com/articles/notable-thursday-option-activity%3A-pacw-icui-aa | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in PacWest Bancorp (Symbol: PACW), where a total of 8,854 contracts have traded so far, representing approximately 885,400 underlying shares. That amounts to about 64.4% of PACW's average daily trading volume over the past month of 1.4 million shares. Particularly high volume was seen for the $22.50 strike call option expiring April 21, 2023, with 5,814 contracts trading so far today, representing approximately 581,400 underlying shares of PACW. Below is a chart showing PACW's trailing twelve month trading history, with the $22.50 strike highlighted in orange:
ICU Medical Inc (Symbol: ICUI) options are showing a volume of 1,210 contracts thus far today. That number of contracts represents approximately 121,000 underlying shares, working out to a sizeable 64.2% of ICUI's average daily trading volume over the past month, of 188,600 shares. Especially high volume was seen for the $190 strike put option expiring March 17, 2023, with 600 contracts trading so far today, representing approximately 60,000 underlying shares of ICUI. Below is a chart showing ICUI's trailing twelve month trading history, with the $190 strike highlighted in orange:
And Alcoa Corporation (Symbol: AA) saw options trading volume of 31,924 contracts, representing approximately 3.2 million underlying shares or approximately 62.6% of AA's average daily trading volume over the past month, of 5.1 million shares. Particularly high volume was seen for the $48 strike put option expiring March 17, 2023, with 2,831 contracts trading so far today, representing approximately 283,100 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $48 strike highlighted in orange:
For the various different available expirations for PACW options, ICUI options, or AA options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $48 strike put option expiring March 17, 2023, with 2,831 contracts trading so far today, representing approximately 283,100 underlying shares of AA. Below is a chart showing ICUI's trailing twelve month trading history, with the $190 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 31,924 contracts, representing approximately 3.2 million underlying shares or approximately 62.6% of AA's average daily trading volume over the past month, of 5.1 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $48 strike highlighted in orange: For the various different available expirations for PACW options, ICUI options, or AA options, visit StockOptionsChannel.com. | Below is a chart showing ICUI's trailing twelve month trading history, with the $190 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 31,924 contracts, representing approximately 3.2 million underlying shares or approximately 62.6% of AA's average daily trading volume over the past month, of 5.1 million shares. Particularly high volume was seen for the $48 strike put option expiring March 17, 2023, with 2,831 contracts trading so far today, representing approximately 283,100 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $48 strike highlighted in orange: For the various different available expirations for PACW options, ICUI options, or AA options, visit StockOptionsChannel.com. | Below is a chart showing ICUI's trailing twelve month trading history, with the $190 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 31,924 contracts, representing approximately 3.2 million underlying shares or approximately 62.6% of AA's average daily trading volume over the past month, of 5.1 million shares. Particularly high volume was seen for the $48 strike put option expiring March 17, 2023, with 2,831 contracts trading so far today, representing approximately 283,100 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $48 strike highlighted in orange: For the various different available expirations for PACW options, ICUI options, or AA options, visit StockOptionsChannel.com. | Below is a chart showing ICUI's trailing twelve month trading history, with the $190 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) saw options trading volume of 31,924 contracts, representing approximately 3.2 million underlying shares or approximately 62.6% of AA's average daily trading volume over the past month, of 5.1 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $48 strike highlighted in orange: For the various different available expirations for PACW options, ICUI options, or AA options, visit StockOptionsChannel.com. Particularly high volume was seen for the $48 strike put option expiring March 17, 2023, with 2,831 contracts trading so far today, representing approximately 283,100 underlying shares of AA. |
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548.0 | 2023-03-08 00:00:00 UTC | Alcoa (AA) Outpaces Stock Market Gains: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-outpaces-stock-market-gains%3A-what-you-should-know-4 | Alcoa (AA) closed the most recent trading day at $51.02, moving +1.69% from the previous trading session. This change outpaced the S&P 500's 0.14% gain on the day. Elsewhere, the Dow lost 0.18%, while the tech-heavy Nasdaq added 1.54%.
Coming into today, shares of the bauxite, alumina and aluminum products company had lost 5.77% in the past month. In that same time, the Industrial Products sector lost 0.62%, while the S&P 500 lost 4.07%.
Investors will be hoping for strength from Alcoa as it approaches its next earnings release. In that report, analysts expect Alcoa to post earnings of $0.04 per share. This would mark a year-over-year decline of 98.69%. Our most recent consensus estimate is calling for quarterly revenue of $2.65 billion, down 19.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.42 per share and revenue of $10.52 billion, which would represent changes of -49.9% and -15.55%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alcoa. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate remained stagnant. Alcoa is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, Alcoa currently has a Forward P/E ratio of 20.77. This valuation marks a premium compared to its industry's average Forward P/E of 12.42.
Meanwhile, AA's PEG ratio is currently 6.72. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Metal Products - Distribution stocks are, on average, holding a PEG ratio of 6.12 based on yesterday's closing prices.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 32, which puts it in the top 13% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed the most recent trading day at $51.02, moving +1.69% from the previous trading session. Meanwhile, AA's PEG ratio is currently 6.72. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $51.02, moving +1.69% from the previous trading session. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. Meanwhile, AA's PEG ratio is currently 6.72. | Alcoa (AA) closed the most recent trading day at $51.02, moving +1.69% from the previous trading session. Meanwhile, AA's PEG ratio is currently 6.72. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $51.02, moving +1.69% from the previous trading session. Meanwhile, AA's PEG ratio is currently 6.72. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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549.0 | 2023-03-07 00:00:00 UTC | AA June 2024 Options Begin Trading | AA | https://www.nasdaq.com/articles/aa-june-2024-options-begin-trading | Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2024 expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 472 days until expiration the newly trading contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 2024 contracts and identified one put and one call contract of particular interest.
The put contract at the $50.00 strike price has a current bid of $9.55. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $50.00, but will also collect the premium, putting the cost basis of the shares at $40.45 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $51.46/share today.
Because the $50.00 strike represents an approximate 3% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 19.10% return on the cash commitment, or 14.77% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $50.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $55.00 strike price has a current bid of $11.50. If an investor was to purchase shares of AA stock at the current price level of $51.46/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $55.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 29.23% if the stock gets called away at the June 2024 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red:
Considering the fact that the $55.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 22.35% boost of extra return to the investor, or 17.28% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $51.46) to be 65%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2024 expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2024 expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2024 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 2024 contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new June 2024 contracts and identified one put and one call contract of particular interest. Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 7% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the June 2024 expiration. |
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550.0 | 2023-03-07 00:00:00 UTC | Validea Guru Fundamental Report for AA - 3/7/2023 | AA | https://www.nasdaq.com/articles/validea-guru-fundamental-report-for-aa-3-7-2023 | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. This deep value model looks for inexpensive stocks that could be potential takeover targets.
ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. The rating using this strategy is 84% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
SECTOR: PASS
QUALITY: PASS
ACQUIRER'S MULTIPLE FAIL
Detailed Analysis of ALCOA CORP
AA Guru Analysis
AA Fundamental Analysis
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Tobias Carlisle Portfolio
About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. He is the author of "The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market" and the founder of Acquirer's Funds. He is also the author of "Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations" and co-author of Quantitative Value: "A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors" Tobias is originally from Australia, where he worked an an analyst at an activist hedge fund and was a lawyer specializing in mergers and acquisitions.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. | Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. Below is Validea's guru fundamental report for ALCOA CORP (AA). | Below is Validea's guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis More Information on Tobias Carlisle Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. |
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551.0 | 2023-03-06 00:00:00 UTC | New Strong Sell Stocks for March 6th | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-march-6th | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. The Zacks Consensus Estimate for its current year earnings has been revised 43.3% downward over the last 60 days.
Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 10.7% downward over the last 60 days.
CarMax KMX is the largest retailer of used vehicles in the United States. The Zacks Consensus Estimate for its current year earnings has been revised almost 6.6% downward over the last 60 days.
View the entire Zacks Rank #5 List.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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Alcoa (AA) : Free Stock Analysis Report
CarMax, Inc. (KMX) : Free Stock Analysis Report
Battalion Oil Corporation (BATL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 43.3% downward over the last 60 days. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. | Alcoa AA is a global industry leader in bauxite, alumina and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report CarMax, Inc. (KMX) : Free Stock Analysis Report Battalion Oil Corporation (BATL) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Battalion Oil BATL is an energy company which is engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties principally in the United States. |
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552.0 | 2023-03-03 00:00:00 UTC | Alcoa Reaches Analyst Target Price | AA | https://www.nasdaq.com/articles/alcoa-reaches-analyst-target-price-0 | In recent trading, shares of Alcoa Corporation (Symbol: AA) have crossed above the average analyst 12-month target price of $53.62, changing hands for $53.69/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level. Analyst reaction may also depend on the fundamental business developments that may be responsible for driving the stock price higher — if things are looking up for the company, perhaps it is time for that target price to be raised.
There are 8 different analyst targets within the Zacks coverage universe contributing to that average for Alcoa Corporation, but the average is just that — a mathematical average. There are analysts with lower targets than the average, including one looking for a price of $42.00. And then on the other side of the spectrum one analyst has a target as high as $65.00. The standard deviation is $7.386.
But the whole reason to look at the average AA price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AA crossing above that average target price of $53.62/share, investors in AA have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $53.62 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? Below is a table showing the current thinking of the analysts that cover Alcoa Corporation:
RECENT AA ANALYST RATINGS BREAKDOWN
» Current 1 Month Ago 2 Month Ago 3 Month Ago
Strong buy ratings: 4 3 3 3
Buy ratings: 0 0 0 1
Hold ratings: 4 5 5 4
Sell ratings: 0 0 0 0
Strong sell ratings: 0 0 0 0
Average rating: 2.0 2.25 2.25 2.06
The average rating presented in the last row of the above table above is from 1 to 5 where 1 is Strong Buy and 5 is Strong Sell. This article used data provided by Zacks Investment Research via Quandl.com. Get the latest Zacks research report on AA — FREE.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In recent trading, shares of Alcoa Corporation (Symbol: AA) have crossed above the average analyst 12-month target price of $53.62, changing hands for $53.69/share. And so with AA crossing above that average target price of $53.62/share, investors in AA have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $53.62 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? But the whole reason to look at the average AA price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. | In recent trading, shares of Alcoa Corporation (Symbol: AA) have crossed above the average analyst 12-month target price of $53.62, changing hands for $53.69/share. But the whole reason to look at the average AA price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AA crossing above that average target price of $53.62/share, investors in AA have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $53.62 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? | And so with AA crossing above that average target price of $53.62/share, investors in AA have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $53.62 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? In recent trading, shares of Alcoa Corporation (Symbol: AA) have crossed above the average analyst 12-month target price of $53.62, changing hands for $53.69/share. But the whole reason to look at the average AA price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. | In recent trading, shares of Alcoa Corporation (Symbol: AA) have crossed above the average analyst 12-month target price of $53.62, changing hands for $53.69/share. But the whole reason to look at the average AA price target in the first place is to tap into a "wisdom of crowds" effort, putting together the contributions of all the individual minds who contributed to the ultimate number, as opposed to what just one particular expert believes. And so with AA crossing above that average target price of $53.62/share, investors in AA have been given a good signal to spend fresh time assessing the company and deciding for themselves: is $53.62 just one stop on the way to an even higher target, or has the valuation gotten stretched to the point where it is time to think about taking some chips off the table? |
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553.0 | 2023-03-02 00:00:00 UTC | Ex-Dividend Reminder: Mativ, Kronos Worldwide and Alcoa | AA | https://www.nasdaq.com/articles/ex-dividend-reminder%3A-mativ-kronos-worldwide-and-alcoa | Looking at the universe of stocks we cover at Dividend Channel, on 3/6/23, Mativ Inc (Symbol: MATV), Kronos Worldwide Inc (Symbol: KRO), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. Mativ Inc will pay its quarterly dividend of $0.40 on 3/24/23, Kronos Worldwide Inc will pay its quarterly dividend of $0.19 on 3/16/23, and Alcoa Corporation will pay its quarterly dividend of $0.10 on 3/23/23. As a percentage of MATV's recent stock price of $25.57, this dividend works out to approximately 1.56%, so look for shares of Mativ Inc to trade 1.56% lower — all else being equal — when MATV shares open for trading on 3/6/23. Similarly, investors should look for KRO to open 1.69% lower in price and for AA to open 0.20% lower, all else being equal.
Below are dividend history charts for MATV, KRO, and AA, showing historical dividends prior to the most recent ones declared.
Mativ Inc (Symbol: MATV):
Kronos Worldwide Inc (Symbol: KRO):
Alcoa Corporation (Symbol: AA):
In general, dividends are not always predictable, following the ups and downs of company profits over time. Therefore, a good first due diligence step in forming an expectation of annual yield going forward, is looking at the history above, for a sense of stability over time. This can help in judging whether the most recent dividends from these companies are likely to continue. If they do continue, the current estimated yields on annualized basis would be 6.26% for Mativ Inc, 6.75% for Kronos Worldwide Inc, and 0.80% for Alcoa Corporation.
Free Report: Top 8%+ Dividends (paid monthly)
In Thursday trading, Mativ Inc shares are currently off about 1.8%, Kronos Worldwide Inc shares are down about 1.4%, and Alcoa Corporation shares are down about 3.1% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Looking at the universe of stocks we cover at Dividend Channel, on 3/6/23, Mativ Inc (Symbol: MATV), Kronos Worldwide Inc (Symbol: KRO), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for KRO to open 1.69% lower in price and for AA to open 0.20% lower, all else being equal. Below are dividend history charts for MATV, KRO, and AA, showing historical dividends prior to the most recent ones declared. | Looking at the universe of stocks we cover at Dividend Channel, on 3/6/23, Mativ Inc (Symbol: MATV), Kronos Worldwide Inc (Symbol: KRO), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. Mativ Inc (Symbol: MATV): Kronos Worldwide Inc (Symbol: KRO): Alcoa Corporation (Symbol: AA): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for KRO to open 1.69% lower in price and for AA to open 0.20% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 3/6/23, Mativ Inc (Symbol: MATV), Kronos Worldwide Inc (Symbol: KRO), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. Mativ Inc (Symbol: MATV): Kronos Worldwide Inc (Symbol: KRO): Alcoa Corporation (Symbol: AA): In general, dividends are not always predictable, following the ups and downs of company profits over time. Similarly, investors should look for KRO to open 1.69% lower in price and for AA to open 0.20% lower, all else being equal. | Looking at the universe of stocks we cover at Dividend Channel, on 3/6/23, Mativ Inc (Symbol: MATV), Kronos Worldwide Inc (Symbol: KRO), and Alcoa Corporation (Symbol: AA) will all trade ex-dividend for their respective upcoming dividends. Similarly, investors should look for KRO to open 1.69% lower in price and for AA to open 0.20% lower, all else being equal. Below are dividend history charts for MATV, KRO, and AA, showing historical dividends prior to the most recent ones declared. |
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554.0 | 2023-02-28 00:00:00 UTC | Alcoa (AA) Gains As Market Dips: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-gains-as-market-dips%3A-what-you-should-know-9 | Alcoa (AA) closed the most recent trading day at $48.94, moving +1.87% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.84%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had lost 4.57% over the past month. This has lagged the Industrial Products sector's loss of 0.06% and the S&P 500's loss of 2% in that time.
Alcoa will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.04, down 98.69% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.65 billion, down 19.55% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.42 per share and revenue of $10.52 billion, which would represent changes of -49.9% and -15.55%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Alcoa. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Alcoa currently has a Zacks Rank of #5 (Strong Sell).
Investors should also note Alcoa's current valuation metrics, including its Forward P/E ratio of 19.89. This represents a premium compared to its industry's average Forward P/E of 11.91.
Investors should also note that AA has a PEG ratio of 6.44 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Metal Products - Distribution stocks are, on average, holding a PEG ratio of 5.76 based on yesterday's closing prices.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed the most recent trading day at $48.94, moving +1.87% from the previous trading session. Investors should also note that AA has a PEG ratio of 6.44 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $48.94, moving +1.87% from the previous trading session. Investors should also note that AA has a PEG ratio of 6.44 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $48.94, moving +1.87% from the previous trading session. Investors should also note that AA has a PEG ratio of 6.44 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $48.94, moving +1.87% from the previous trading session. Investors should also note that AA has a PEG ratio of 6.44 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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555.0 | 2023-02-24 00:00:00 UTC | U.S. to impose 200% tariff on aluminum from Russia -White House | AA | https://www.nasdaq.com/articles/u.s.-to-impose-200-tariff-on-aluminum-from-russia-white-house | Updates prices, adds analysts comment
WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine.
The United States will also apply a 200% tariff on aluminum imports of primary aluminum produced in Russia from April 10.
"President Biden has made it a priority to mitigate the effects of Russia’s invasion on domestic industries critical to our national security, and this includes the American aluminum industry," the U.S. Department of Commerce said.
"In imposing these tariffs, we are denying Russia an important market for its aluminum while taking a stand for America’s workers."
Russian aluminum is produced by Rusal RUAL.MM, 0486.HK which accounts for about 6% of global supplies.
"Alcoa welcomes the imposition of tariffs by the U.S. government on Russian aluminum," the U.S. aluminum producer said. "We continue to advocate for sanctions as the most effective means for the government to take action against Russia and level the playing field for U.S. producers."
Neither Russian metal nor the companies that produce it have been targeted by sanctions imposed on some Russian companies in response to Russia sending troops into Ukraine last year.
In 2018, however, U.S. Treasury Department sanctions on Rusal froze the bulk of the company's exports, paralyzed its supply chain and scared off customers.
The sanctions also fueled a jump in aluminum prices on the London Metal Exchange.
LME prices on Friday shrugged of news of the tariffs because they don't stop consumers and traders in other countries frombuying Russian aluminium and supplies are for now ample, metals analysts said.
Prices CMAL3 of aluminum, vital for transport, packaging and construction industries, were down 2.5% at $2,337 a tonne at 1652 GMT. Earlier they touched $2,321.5, the lowest since Jan 9.
The tariffs are unlikely to significantly tighten the aluminium market in the United States as the country imports only a small percentage of its aluminium from Russia.
U.S. imports of unwrought aluminum and alloys from Russia amounted to 191,809 tonnes, or roughly 4.4% of the more than 4.4 million tonne total last year, compared with 8.9% in 2018 and 14.6% in 2017, according to Trade Data Monitor.
Rusal declined to comment when contacted by Reuters.
(Reporting by Doina Chiacu in Washington, Polina Devitt, Anastasia Lyrchikova and Pratima Desai; Editing by Caitlin Webber and Louise Heavens)
(([email protected]; 202-898-8322;))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | "We continue to advocate for sanctions as the most effective means for the government to take action against Russia and level the playing field for U.S. In 2018, however, U.S. Treasury Department sanctions on Rusal froze the bulk of the company's exports, paralyzed its supply chain and scared off customers. LME prices on Friday shrugged of news of the tariffs because they don't stop consumers and traders in other countries frombuying Russian aluminium and supplies are for now ample, metals analysts said. | Updates prices, adds analysts comment WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine. The United States will also apply a 200% tariff on aluminum imports of primary aluminum produced in Russia from April 10. "Alcoa welcomes the imposition of tariffs by the U.S. government on Russian aluminum," the U.S. aluminum producer said. | Updates prices, adds analysts comment WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine. The United States will also apply a 200% tariff on aluminum imports of primary aluminum produced in Russia from April 10. "Alcoa welcomes the imposition of tariffs by the U.S. government on Russian aluminum," the U.S. aluminum producer said. | Updates prices, adds analysts comment WASHINGTON, Feb 24 (Reuters) - The United States will impose a 200% tariff on aluminum and derivatives produced in Russia from March 10, the White House said on Friday, effectively a ban as it announced sanctions on the anniversary of Russia's invasion of Ukraine. Russian aluminum is produced by Rusal RUAL.MM, 0486.HK which accounts for about 6% of global supplies. Prices CMAL3 of aluminum, vital for transport, packaging and construction industries, were down 2.5% at $2,337 a tonne at 1652 GMT. |
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556.0 | 2023-02-24 00:00:00 UTC | Noteworthy Friday Option Activity: GOOG, LITE, AA | AA | https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-goog-lite-aa | Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Alphabet Inc (Symbol: GOOG), where a total volume of 249,065 contracts has been traded thus far today, a contract volume which is representative of approximately 24.9 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 64.7% of GOOG's average daily trading volume over the past month, of 38.5 million shares. Particularly high volume was seen for the $92 strike call option expiring March 03, 2023, with 15,539 contracts trading so far today, representing approximately 1.6 million underlying shares of GOOG. Below is a chart showing GOOG's trailing twelve month trading history, with the $92 strike highlighted in orange:
Lumentum Holdings Inc (Symbol: LITE) saw options trading volume of 5,530 contracts, representing approximately 553,000 underlying shares or approximately 62.3% of LITE's average daily trading volume over the past month, of 887,905 shares. Especially high volume was seen for the $55 strike put option expiring March 17, 2023, with 1,058 contracts trading so far today, representing approximately 105,800 underlying shares of LITE. Below is a chart showing LITE's trailing twelve month trading history, with the $55 strike highlighted in orange:
And Alcoa Corporation (Symbol: AA) options are showing a volume of 28,526 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 4.7 million shares. Especially high volume was seen for the $25 strike put option expiring March 17, 2023, with 3,201 contracts trading so far today, representing approximately 320,100 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $25 strike highlighted in orange:
For the various different available expirations for GOOG options, LITE options, or AA options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Especially high volume was seen for the $25 strike put option expiring March 17, 2023, with 3,201 contracts trading so far today, representing approximately 320,100 underlying shares of AA. Below is a chart showing LITE's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 28,526 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 4.7 million shares. | Below is a chart showing LITE's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 28,526 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 4.7 million shares. Especially high volume was seen for the $25 strike put option expiring March 17, 2023, with 3,201 contracts trading so far today, representing approximately 320,100 underlying shares of AA. | Below is a chart showing LITE's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 28,526 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 4.7 million shares. Especially high volume was seen for the $25 strike put option expiring March 17, 2023, with 3,201 contracts trading so far today, representing approximately 320,100 underlying shares of AA. | Below is a chart showing AA's trailing twelve month trading history, with the $25 strike highlighted in orange: For the various different available expirations for GOOG options, LITE options, or AA options, visit StockOptionsChannel.com. Below is a chart showing LITE's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 28,526 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 60.3% of AA's average daily trading volume over the past month, of 4.7 million shares. |
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557.0 | 2023-02-22 00:00:00 UTC | New Strong Sell Stocks for February 22nd | AA | https://www.nasdaq.com/articles/new-strong-sell-stocks-for-february-22nd-0 | Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today:
Alico, Inc. ALCO is an agribusiness and land management company. The Zacks Consensus Estimate for its current year earnings has been revised 141% downward over the last 60 days.
Alcoa Corporation AA is a company that produces and sells bauxite, alumina, and aluminum products. The Zacks Consensus Estimate for its current year earnings has been revised 10.7% downward over the last 60 days.
Capri Holdings Limited CPRI is a retailer of apparels. The Zacks Consensus Estimate for its current year earnings has been revised 9.9% downward over the last 60 days.
View the entire Zacks Rank #5 List.
5 Stocks Set to Double
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Alcoa (AA) : Free Stock Analysis Report
Alico, Inc. (ALCO) : Free Stock Analysis Report
Capri Holdings Limited (CPRI) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation AA is a company that produces and sells bauxite, alumina, and aluminum products. Click to get this free report Alcoa (AA) : Free Stock Analysis Report Alico, Inc. (ALCO) : Free Stock Analysis Report Capri Holdings Limited (CPRI) : Free Stock Analysis Report To read this article on Zacks.com click here. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alico, Inc. ALCO is an agribusiness and land management company. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Alico, Inc. (ALCO) : Free Stock Analysis Report Capri Holdings Limited (CPRI) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Corporation AA is a company that produces and sells bauxite, alumina, and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alico, Inc. ALCO is an agribusiness and land management company. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Alico, Inc. (ALCO) : Free Stock Analysis Report Capri Holdings Limited (CPRI) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Corporation AA is a company that produces and sells bauxite, alumina, and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alico, Inc. ALCO is an agribusiness and land management company. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Alico, Inc. (ALCO) : Free Stock Analysis Report Capri Holdings Limited (CPRI) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Corporation AA is a company that produces and sells bauxite, alumina, and aluminum products. Here are three stocks added to the Zacks Rank #5 (Strong Sell) List today: Alico, Inc. ALCO is an agribusiness and land management company. |
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558.0 | 2023-02-21 00:00:00 UTC | Validea Guru Fundamental Report for AA - 2/21/2023 | AA | https://www.nasdaq.com/articles/validea-guru-fundamental-report-for-aa-2-21-2023 | Below is Validea's daily guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. This deep value model looks for inexpensive stocks that could be potential takeover targets.
ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. The rating using this strategy is 89% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
SECTOR: PASS
QUALITY: PASS
ACQUIRER'S MULTIPLE FAIL
Detailed Analysis of ALCOA CORP
AA Guru Analysis
AA Fundamental Analysis
Tobias Carlisle Portfolio
About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. He is the author of "The Acquirer's Multiple: How the Billionaire Contrarians of Deep Value Beat the Market" and the founder of Acquirer's Funds. He is also the author of "Deep Value: Why Activists Investors and Other Contrarians Battle for Control of Losing Corporations" and co-author of Quantitative Value: "A Practitioner's Guide to Automating Intelligent Investment and Eliminating Behavioral Errors" Tobias is originally from Australia, where he worked an an analyst at an activist hedge fund and was a lawyer specializing in mergers and acquisitions.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | ALCOA CORP (AA) is a mid-cap growth stock in the Metal Mining industry. Below is Validea's daily guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. | Below is Validea's daily guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. | Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. Below is Validea's daily guru fundamental report for ALCOA CORP (AA). | Below is Validea's daily guru fundamental report for ALCOA CORP (AA). Of the 22 guru strategies we follow, AA rates highest using our Acquirer's Multiple Investor model based on the published strategy of Tobias Carlisle. Detailed Analysis of ALCOA CORP AA Guru Analysis AA Fundamental Analysis Tobias Carlisle Portfolio About Tobias Carlisle: Tobias Carlisle is a widely recognized expert on deep value investing. |
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559.0 | 2023-02-10 00:00:00 UTC | MDYV, RRX, WBS, AA: Large Inflows Detected at ETF | AA | https://www.nasdaq.com/articles/mdyv-rrx-wbs-aa%3A-large-inflows-detected-at-etf | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $421.1 million dollar inflow -- that's a 16.3% increase week over week in outstanding units (from 36,150,000 to 42,050,000). Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.3%, Webster Financial Corp (Symbol: WBS) is trading flat, and Alcoa Corporation (Symbol: AA) is lower by about 1.5%. For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average:
Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $71.38. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.3%, Webster Financial Corp (Symbol: WBS) is trading flat, and Alcoa Corporation (Symbol: AA) is lower by about 1.5%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.3%, Webster Financial Corp (Symbol: WBS) is trading flat, and Alcoa Corporation (Symbol: AA) is lower by about 1.5%. For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $71.38. Free Report: Top 8%+ Dividends (paid monthly) Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.3%, Webster Financial Corp (Symbol: WBS) is trading flat, and Alcoa Corporation (Symbol: AA) is lower by about 1.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $421.1 million dollar inflow -- that's a 16.3% increase week over week in outstanding units (from 36,150,000 to 42,050,000). For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $71.38. | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.3%, Webster Financial Corp (Symbol: WBS) is trading flat, and Alcoa Corporation (Symbol: AA) is lower by about 1.5%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $421.1 million dollar inflow -- that's a 16.3% increase week over week in outstanding units (from 36,150,000 to 42,050,000). For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $75.02 as the 52 week high point — that compares with a last trade of $71.38. |
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560.0 | 2023-02-10 00:00:00 UTC | AA Makes Notable Cross Below Critical Moving Average | AA | https://www.nasdaq.com/articles/aa-makes-notable-cross-below-critical-moving-average-0 | In trading on Friday, shares of Alcoa Corporation (Symbol: AA) crossed below their 200 day moving average of $48.99, changing hands as low as $48.19 per share. Alcoa Corporation shares are currently trading down about 2.4% on the day. The chart below shows the one year performance of AA shares, versus its 200 day moving average:
Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $48.89.
Click here to find out which 9 other metals stocks recently crossed below their 200 day moving average »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Alcoa Corporation (Symbol: AA) crossed below their 200 day moving average of $48.99, changing hands as low as $48.19 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $48.89. Click here to find out which 9 other metals stocks recently crossed below their 200 day moving average » Also see: Stock Split History ORIC Videos Top Ten Hedge Funds Holding TKAI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Alcoa Corporation (Symbol: AA) crossed below their 200 day moving average of $48.99, changing hands as low as $48.19 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $48.89. Click here to find out which 9 other metals stocks recently crossed below their 200 day moving average » Also see: Stock Split History ORIC Videos Top Ten Hedge Funds Holding TKAI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Alcoa Corporation (Symbol: AA) crossed below their 200 day moving average of $48.99, changing hands as low as $48.19 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $48.89. Click here to find out which 9 other metals stocks recently crossed below their 200 day moving average » Also see: Stock Split History ORIC Videos Top Ten Hedge Funds Holding TKAI The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Friday, shares of Alcoa Corporation (Symbol: AA) crossed below their 200 day moving average of $48.99, changing hands as low as $48.19 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $48.89. Alcoa Corporation shares are currently trading down about 2.4% on the day. |
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561.0 | 2023-02-03 00:00:00 UTC | Alcoa says workers back 2024 restart of its aluminum smelter in Spain | AA | https://www.nasdaq.com/articles/alcoa-says-workers-back-2024-restart-of-its-aluminum-smelter-in-spain | Feb 3(Reuters) - Alcoa Corp AA.N said on Friday that a majority of workers at its San Ciprian facility in Spain voted to back its plan for a phased restart of the aluminum smelter in January 2024 after a two-year halt to primary production.
The U.S. metals producer had reached a deal with workers in December 2021 to end primary aluminum production at the facility for two years as soaring European energy prices threatened its viability.
The phased restart will be completed by Oct. 1, 2025, and from then until the end of 2026, the aluminum smelter will produce at least 75% of its nominal capacity of 228,000 metric tons per year, Alcoa said.
Last year, the company signed two long-term wind power purchase agreements securing roughly 75% of the smelter's needs at full capacity, it added.
The plan includes $146 million of capital investments, mainly for a new anode plant, and an extended commitment not to initiate any collective dismissal processes for three years after the restart begins, the company said.
In 2020, the company attempted to lay off some 500 workers but was forced to abandon the plan after a Spanish court declared it "null and void."
Alcoa has long sought to shut down the smelter in Spain's northwestern Galicia region, which has struggled to remain competitive in the face of steep energy costs and low aluminium prices, leading to several years of losses.
(Reporting by Deep Vakil and Bharat Govind Gautam in Bengaluru; Editing by David Gregorio)
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Feb 3(Reuters) - Alcoa Corp AA.N said on Friday that a majority of workers at its San Ciprian facility in Spain voted to back its plan for a phased restart of the aluminum smelter in January 2024 after a two-year halt to primary production. The U.S. metals producer had reached a deal with workers in December 2021 to end primary aluminum production at the facility for two years as soaring European energy prices threatened its viability. Alcoa has long sought to shut down the smelter in Spain's northwestern Galicia region, which has struggled to remain competitive in the face of steep energy costs and low aluminium prices, leading to several years of losses. | Feb 3(Reuters) - Alcoa Corp AA.N said on Friday that a majority of workers at its San Ciprian facility in Spain voted to back its plan for a phased restart of the aluminum smelter in January 2024 after a two-year halt to primary production. The U.S. metals producer had reached a deal with workers in December 2021 to end primary aluminum production at the facility for two years as soaring European energy prices threatened its viability. The phased restart will be completed by Oct. 1, 2025, and from then until the end of 2026, the aluminum smelter will produce at least 75% of its nominal capacity of 228,000 metric tons per year, Alcoa said. | Feb 3(Reuters) - Alcoa Corp AA.N said on Friday that a majority of workers at its San Ciprian facility in Spain voted to back its plan for a phased restart of the aluminum smelter in January 2024 after a two-year halt to primary production. The U.S. metals producer had reached a deal with workers in December 2021 to end primary aluminum production at the facility for two years as soaring European energy prices threatened its viability. The phased restart will be completed by Oct. 1, 2025, and from then until the end of 2026, the aluminum smelter will produce at least 75% of its nominal capacity of 228,000 metric tons per year, Alcoa said. | Feb 3(Reuters) - Alcoa Corp AA.N said on Friday that a majority of workers at its San Ciprian facility in Spain voted to back its plan for a phased restart of the aluminum smelter in January 2024 after a two-year halt to primary production. The U.S. metals producer had reached a deal with workers in December 2021 to end primary aluminum production at the facility for two years as soaring European energy prices threatened its viability. The phased restart will be completed by Oct. 1, 2025, and from then until the end of 2026, the aluminum smelter will produce at least 75% of its nominal capacity of 228,000 metric tons per year, Alcoa said. |
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562.0 | 2023-02-02 00:00:00 UTC | AA March 24th Options Begin Trading | AA | https://www.nasdaq.com/articles/aa-march-24th-options-begin-trading | Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the March 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new March 24th contracts and identified one put and one call contract of particular interest.
The put contract at the $53.00 strike price has a current bid of $3.35. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $53.00, but will also collect the premium, putting the cost basis of the shares at $49.65 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $53.51/share today.
Because the $53.00 strike represents an approximate 1% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.32% return on the cash commitment, or 46.18% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $53.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $55.00 strike price has a current bid of $3.15. If an investor was to purchase shares of AA stock at the current price level of $53.51/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $55.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 8.67% if the stock gets called away at the March 24th expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red:
Considering the fact that the $55.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 5.89% boost of extra return to the investor, or 43.01% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 251 trading day closing values as well as today's price of $53.51) to be 67%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the March 24th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the March 24th expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the March 24th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new March 24th contracts and identified one put and one call contract of particular interest. | At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new March 24th contracts and identified one put and one call contract of particular interest. Below is a chart showing AA's trailing twelve month trading history, with the $55.00 strike highlighted in red: Considering the fact that the $55.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options begin trading today, for the March 24th expiration. |
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563.0 | 2023-01-30 00:00:00 UTC | SPDR S&P Metals & Mining ETF Experiences Big Inflow | AA | https://www.nasdaq.com/articles/spdr-sp-metals-mining-etf-experiences-big-inflow-1 | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Metals & Mining ETF (Symbol: XME) where we have detected an approximate $105.6 million dollar inflow -- that's a 4.2% increase week over week in outstanding units (from 43,900,000 to 45,750,000). Among the largest underlying components of XME, in trading today Alcoa Corporation (Symbol: AA) is down about 2.7%, Royal Gold Inc (Symbol: RGLD) is up about 0.3%, and Uranium Energy Corp (Symbol: UEC) is higher by about 1.6%. For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average:
Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $57.10. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of XME, in trading today Alcoa Corporation (Symbol: AA) is down about 2.7%, Royal Gold Inc (Symbol: RGLD) is up about 0.3%, and Uranium Energy Corp (Symbol: UEC) is higher by about 1.6%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of XME, in trading today Alcoa Corporation (Symbol: AA) is down about 2.7%, Royal Gold Inc (Symbol: RGLD) is up about 0.3%, and Uranium Energy Corp (Symbol: UEC) is higher by about 1.6%. For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $57.10. Click here to find out which 9 other ETFs had notable inflows » Also see: Institutional Holders of PIPR FEN Historical Stock Prices MTW Historical Stock Prices The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of XME, in trading today Alcoa Corporation (Symbol: AA) is down about 2.7%, Royal Gold Inc (Symbol: RGLD) is up about 0.3%, and Uranium Energy Corp (Symbol: UEC) is higher by about 1.6%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Metals & Mining ETF (Symbol: XME) where we have detected an approximate $105.6 million dollar inflow -- that's a 4.2% increase week over week in outstanding units (from 43,900,000 to 45,750,000). For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $57.10. | Among the largest underlying components of XME, in trading today Alcoa Corporation (Symbol: AA) is down about 2.7%, Royal Gold Inc (Symbol: RGLD) is up about 0.3%, and Uranium Energy Corp (Symbol: UEC) is higher by about 1.6%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Metals & Mining ETF (Symbol: XME) where we have detected an approximate $105.6 million dollar inflow -- that's a 4.2% increase week over week in outstanding units (from 43,900,000 to 45,750,000). For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $57.10. |
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564.0 | 2023-01-30 00:00:00 UTC | BlackRock Increases Position in Alcoa (AA) | AA | https://www.nasdaq.com/articles/blackrock-increases-position-in-alcoa-aa | Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 22.27MM shares of Alcoa Corp (AA). This represents 12.6% of the company.
In their previous filing dated January 10, 2022 they reported 19.84MM shares and 10.60% of the company, an increase in shares of 12.24% and an increase in total ownership of 2.00% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 2.09% Downside
As of January 29, 2023, the average one-year price target for Alcoa is $51.65. The forecasts range from a low of $41.41 to a high of $65.10. The average price target represents a decrease of 2.09% from its latest reported closing price of $52.75.
The projected annual revenue for Alcoa is $12,227MM, a decrease of 1.80%. The projected annual EPS is $3.60.
Fund Sentiment
There are 1061 funds or institutions reporting positions in Alcoa. This is a decrease of 29 owner(s) or 2.66%.
Average portfolio weight of all funds dedicated to US:AA is 0.1892%, a decrease of 27.6986%. Total shares owned by institutions decreased in the last three months by 2.32% to 159,384K shares.
What are large shareholders doing?
Bank of New York Mellon holds 6,106,620 shares representing 3.45% ownership of the company. In it's prior filing, the firm reported owning 5,775,841 shares, representing an increase of 5.42%. The firm decreased its portfolio allocation in AA by 62.89% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,356,696 shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 5,426,569 shares, representing a decrease of 1.30%. The firm decreased its portfolio allocation in AA by 24.01% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,257,787 shares representing 2.97% ownership of the company. In it's prior filing, the firm reported owning 5,292,399 shares, representing a decrease of 0.66%. The firm decreased its portfolio allocation in AA by 26.27% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,568,165 shares representing 2.58% ownership of the company. In it's prior filing, the firm reported owning 4,655,863 shares, representing a decrease of 1.92%. The firm decreased its portfolio allocation in AA by 24.44% over the last quarter.
Renaissance Technologies holds 4,176,396 shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 3,304,535 shares, representing an increase of 20.88%. The firm increased its portfolio allocation in AA by 11.53% over the last quarter.
Alcoa Declares $0.10 Dividend
Alcoa said on October 19, 2022 that its board of directors declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of October 31, 2022 received the payment on November 18, 2022. Previously, the company paid $0.10 per share.
At the most recent share price of $52.75 / share, the stock's dividend yield was 0.76%. Additionally, the company's dividend payout ratio is -0.69, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 22.27MM shares of Alcoa Corp (AA). Average portfolio weight of all funds dedicated to US:AA is 0.1892%, a decrease of 27.6986%. The firm decreased its portfolio allocation in AA by 62.89% over the last quarter. | Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 22.27MM shares of Alcoa Corp (AA). Average portfolio weight of all funds dedicated to US:AA is 0.1892%, a decrease of 27.6986%. The firm decreased its portfolio allocation in AA by 62.89% over the last quarter. | Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 22.27MM shares of Alcoa Corp (AA). Average portfolio weight of all funds dedicated to US:AA is 0.1892%, a decrease of 27.6986%. The firm decreased its portfolio allocation in AA by 62.89% over the last quarter. | Fintel reports that BlackRock has filed a 13G form with the SEC disclosing ownership of 22.27MM shares of Alcoa Corp (AA). Average portfolio weight of all funds dedicated to US:AA is 0.1892%, a decrease of 27.6986%. The firm decreased its portfolio allocation in AA by 62.89% over the last quarter. |
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565.0 | 2023-01-23 00:00:00 UTC | 3 Stocks to Avoid This Week | AA | https://www.nasdaq.com/articles/3-stocks-to-avoid-this-week-62 | Wall Street moved slightly lower during the third trading week of 2023. My "three stocks to avoid," which I thought were going to lose to the market in the past week -- Bed Bath & Beyond (NASDAQ: BBBY), Alcoa (NYSE: AA), and ExxonMobil (NYSE: XOM) -- plunged 8%, dipped 7%, and closed flat, respectively, averaging out to a 5% decline.
The S&P 500 moved in the other direction, increasing 0.7% for the holiday-abridged week. It was close, but I was right. I have been correct in 43 of the past 66 weeks, or 65% of the time.
Let's turn our attention to the week ahead. I see Bed Bath & Beyond, D.R. Horton (NYSE: DHI), and Tesla Motors (NASDAQ: TSLA) as stocks you might want to consider steering clear of this week. Let's go over my near-term concerns with all three investments.
Image source: Getty Images.
1. Bed Bath & Beyond
Singling out Bed Bath & Beyond for a second week is a dangerous game. I'm fairly confident where this story will end, but there will be short squeezes and other spikes along the way. The housewares retailer is in trouble. Sales growth is negative for the chain's fifth consecutive fiscal year, and losses are widening.
Remember the early days of the pandemic, when folks invested heavily in their homes to make themselves more comfortable during lockdown? Bed Bath & Beyond sales plummeted 17% that fiscal year, the first of what will be three straight years of double-digit declines on the top line. Shoppers had abandoned the chain before the pandemic, too, even as the economy and real estate market were heading in the right direction.
Bed Bath & Beyond is in bad shape. Its heavy debt load gives it not much to play with now. The investment will be volatile, and while that's par for the course for meme stocks, this is one where the best-case bullish scenario is difficult to spell out.
2. D.R. Horton
Homebuilders have had a good run, and valuations look tempting on a trailing basis. It's also earnings season, and D.R. Horton is reporting fresh financials on Tuesday morning. I'm still putting the Texas-based developer on this list.
D.R. Horton shares enter this week just 3% below its 52-week high, but you have to wonder why that's the case. The residential builder fell short of Wall Street earnings expectations when it posted fourth-quarter results for fiscal 2022 three months ago, making it a challenging hold heading into this week's update. Analysts have also been slashing their profit targets.
Wall Street pros were eyeing net income of $13.38 a share for the new fiscal year and $14.14 a share in fiscal 2024 just three months ago. The consensus estimate is now $9.61 and $9.74, respectively. The stock may seem cheap at just less than 10 times forward earnings, but you have to wonder if the projections will keep tumbling after 28% to 31% in downward revisions over just a couple of months.
Bulls will argue that we have a shortage of homes in this country, and they're not wrong. But new digs are likely to be priced lower on contracting margins.
3. Tesla Motors
It's not just D.R. Horton checking in with what could be problematic quarterly results this week. Tesla Motors will step up with its fourth-quarter results on Wednesday afternoon.
Tesla has done a lot of things right over the years, but these next two financial updates aren't likely to impress. Tesla had to discount December deliveries -- twice -- and it still fell short of market expectations for deliveries. The first quarter is likely to squeeze margins even harder with huge price cuts on its Model Y cars.
The stock is up 23% over the past dozen days despite weak demand prompting aggressive price cuts in the U.S. and China. Investors may be looking past the short-term hiccups, but they might rethink that stance if this week'searnings callis cloudy and unsettling.
It's going to be a bumpy road for some of these investments. If you're looking for safe stocks, you aren't likely to find them in Bed Bath & Beyond, D.R. Horton, and Tesla Motors this week.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | My "three stocks to avoid," which I thought were going to lose to the market in the past week -- Bed Bath & Beyond (NASDAQ: BBBY), Alcoa (NYSE: AA), and ExxonMobil (NYSE: XOM) -- plunged 8%, dipped 7%, and closed flat, respectively, averaging out to a 5% decline. Horton (NYSE: DHI), and Tesla Motors (NASDAQ: TSLA) as stocks you might want to consider steering clear of this week. The residential builder fell short of Wall Street earnings expectations when it posted fourth-quarter results for fiscal 2022 three months ago, making it a challenging hold heading into this week's update. | My "three stocks to avoid," which I thought were going to lose to the market in the past week -- Bed Bath & Beyond (NASDAQ: BBBY), Alcoa (NYSE: AA), and ExxonMobil (NYSE: XOM) -- plunged 8%, dipped 7%, and closed flat, respectively, averaging out to a 5% decline. Horton (NYSE: DHI), and Tesla Motors (NASDAQ: TSLA) as stocks you might want to consider steering clear of this week. The residential builder fell short of Wall Street earnings expectations when it posted fourth-quarter results for fiscal 2022 three months ago, making it a challenging hold heading into this week's update. | My "three stocks to avoid," which I thought were going to lose to the market in the past week -- Bed Bath & Beyond (NASDAQ: BBBY), Alcoa (NYSE: AA), and ExxonMobil (NYSE: XOM) -- plunged 8%, dipped 7%, and closed flat, respectively, averaging out to a 5% decline. Horton (NYSE: DHI), and Tesla Motors (NASDAQ: TSLA) as stocks you might want to consider steering clear of this week. 10 stocks we like better than Bed Bath & Beyond When our award-winning analyst team has a stock tip, it can pay to listen. | My "three stocks to avoid," which I thought were going to lose to the market in the past week -- Bed Bath & Beyond (NASDAQ: BBBY), Alcoa (NYSE: AA), and ExxonMobil (NYSE: XOM) -- plunged 8%, dipped 7%, and closed flat, respectively, averaging out to a 5% decline. The residential builder fell short of Wall Street earnings expectations when it posted fourth-quarter results for fiscal 2022 three months ago, making it a challenging hold heading into this week's update. Horton, and Tesla Motors this week. |
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566.0 | 2023-01-23 00:00:00 UTC | COLUMN-Power problems rein in global aluminium output growth: Andy Home | AA | https://www.nasdaq.com/articles/column-power-problems-rein-in-global-aluminium-output-growth%3A-andy-home-0 | By Andy Home
LONDON, Jan 23 (Reuters) - Global aluminium production rose by a marginal 2.0% last year, a rate of growth that was down from 2.7% in 2021 and the slowest since 2019, according to the International Aluminium Institute (IAI).
Output barely rose at all over the second half of the year. Annualised production of 69 million tonnes in December was just 231,000 tonnes higher than June's global run-rate.
Europe's energy crisis has taken a heavy toll on a notoriously power-hungry sector. Regional production fell by 12.5% last year, a major factor behind the 0.9% decline in output outside of China.
China, the world's dominant producer of primary aluminium, registered 4.0% output growth for the second consecutive year.
But it too has been grappling with power problems, most recently in the hydro-rich provinces of Yunnan and Sichuan. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes.
Aluminium's energy paradox is coming into ever sharper focus. Production of a metal that is critical for building a greener power system is itself increasingly vulnerable to fluctuating power availability.
EUROPE POWERS DOWN
Western European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century.
Russia's invasion of Ukraine and the resulting surge in power prices caused multiple smelter closures and curtailments last year.
Europe's energy crunch has now passed its peak. German baseload power for 2024 delivery TRDEBYZ4 has fallen from 470 euros/MWh in August to a current 189.
Some European aluminium capacity is returning. The Dunkerque plant, one of the region's largest with capacity of 285,000 tonnes per year, is reversing the 20% cuts made in the fourth quarter of 2022.
For some, though, it's probably too late.
Slovakia's sole smelter with capacity of 175,000 tonnes per year has closed all primary operations after 70 years of operation.
The Podgorica smelter in Montenegro closed the last 60,000 tonnes of primary capacity at the end of 2021.
Interestingly, both plants are counted in the IAI's Eastern Europe and Russia category. So too are smelters in Romania and Slovenia, both of which have drastically curtailed operations over the last year.
Yet regional production was down by only 1.4% last year, a counterintuitive outcome unless the closures were offset by higher output in Russia.
This is possible given Rusal was planning to fire up its new Taishet plant last year, although there has been no recent update on the 428,500-tonne per year project.
STOP START IN CHINA
China's production of 40.39 million tonnes of aluminium last year was a new annual record but the headline masks considerable chop and change in the country's base smelter network.
New capacity was brought on stream and mothballed capacity restarted in some provinces, while in others power restrictions translated into mandatory curtailments for smelter operators.
The balance flipped from fast growth in the first half of 2022 to sliding output over the closing months.
This year has seen no repeat of the blanket restrictions imposed during the 2021 winter energy crunch but drought in the southwest of the country is weighing on smelter operating rates. Some two million tonnes of capacity in Yunnan, Sichuan and Guizhou was off-line at the end of 2022, according to Shanghai Metal Market.
It's unlikely to return until the second quarter, when the rainy season should restore depleted reservoir levels in the region's hydro power system.
There is still plenty of room for production growth in China with the government capacity cap of 45 million tonnes not yet reached.
However, the last two years have shown that it is increasingly rare for China to run at its existing capacity for any prolonged period of time before power restrictions of one sort or another are imposed by provincial governments looking to balance energy loads.
GREEN PRESSURE
It's noticeable that the drought problems in China's southwest haven't deterred aluminium producers from transferring capacity there from coal-powered provinces in the quest for metal with a lower carbon footprint.
The pressure to go green is also becoming a key factor in smelter restarts in the rest of the world.
Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. A key driver was the restart of the Alumar smelter in Brazil based on a switch to renewable power. Ramp-up is taking a bit longer than planned, according to 40% owner South32 S32.AX, which is not surprising since the plant last operated seven years ago.
Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. It has secured two wind-power deals which would cover 75% of energy needs for the 228,000-tonne per year plant.
Even Slovalco might be resuscitated by Norwegian owner Hydro NHY.OL if the Slovak government can implement the European Union's framework on carbon compensations.
POWER PARADOX
Yet the rush for renewable power merely accentuates the core aluminium paradox. As ever more smelters switch to green energy sources, global aluminium production is ever more dependent on seasonally variable power availability.
Moreover, seasonality itself is changing as global warming brings both longer droughts and hotter summer heat waves, which combine to lift energy usage while depressing power generation.
It has become clear in the last few years that China's aluminium smelters, along with other power-intensive industries, are first in line for mandated curtailments when a province is trying to balance its grid.
Such regional adjustments are now part and parcel of the global aluminium production landscape but they have injected a new degree of volatility into aluminium's previously slow-changing supply side.
They also raise the possibility that China's seemingly unstoppable aluminium juggernaut has run out of road even before reaching the government's capacity cap.
The opinions expressed here are those of the author, a columnist for Reuters.
Western European aluminium smelter production takes an energy hit in 2022https://tmsnrt.rs/3D3qfPh
China's aluminium output peaked in August 2022https://tmsnrt.rs/3R0jm79
(Editing by Kirsten Donovan)
(([email protected], 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. However, the last two years have shown that it is increasingly rare for China to run at its existing capacity for any prolonged period of time before power restrictions of one sort or another are imposed by provincial governments looking to balance energy loads. It's noticeable that the drought problems in China's southwest haven't deterred aluminium producers from transferring capacity there from coal-powered provinces in the quest for metal with a lower carbon footprint. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes. Western European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. Slovakia's sole smelter with capacity of 175,000 tonnes per year has closed all primary operations after 70 years of operation. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. |
||
567.0 | 2023-01-23 00:00:00 UTC | COLUMN-Power problems rein in global aluminium output growth: Andy Home | AA | https://www.nasdaq.com/articles/column-power-problems-rein-in-global-aluminium-output-growth%3A-andy-home | By Andy Home
LONDON, Jan 23 (Reuters) - Global aluminium production rose by a marginal 2.0% last year, a rate of growth that was down from 2.7% in 2021 and the slowest since 2019, according to the International Aluminium Institute (IAI).
Output barely rose at all over the second half of the year. Annualised production of 69 million tonnes in December was just 231,000 tonnes higher than June's global run-rate.
Europe's energy crisis has taken a heavy toll on a notoriously power-hungry sector. Regional production fell by 12.5% last year, a major factor behind the 0.9% decline in output outside of China.
China, the world's dominant producer of primary aluminium, registered 4.0% output growth for the second consecutive year.
But it too has been grappling with power problems, most recently in the hydro-rich provinces of Yunnan and Sichuan. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes.
Aluminium's energy paradox is coming into ever sharper focus. Production of a metal that is critical for building a greener power system is itself increasingly vulnerable to fluctuating power availability.
EUROPE POWERS DOWN
Western European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century.
Russia's invasion of Ukraine and the resulting surge in power prices caused multiple smelter closures and curtailments last year.
Europe's energy crunch has now passed its peak. German baseload power for 2024 delivery TRDEBYZ4 has fallen from 470 euros/MWh in August to a current 189.
Some European aluminium capacity is returning. The Dunkerque plant, one of the region's largest with capacity of 285,000 tonnes per year, is reversing the 20% cuts made in the fourth quarter of 2022.
For some, though, it's probably too late.
Slovakia's sole smelter with capacity of 175,000 tonnes per year has closed all primary operations after 70 years of operation.
The Podgorica smelter in Montenegro closed the last 60,000 tonnes of primary capacity at the end of 2021.
Interestingly, both plants are counted in the IAI's Eastern Europe and Russia category. So too are smelters in Romania and Slovenia, both of which have drastically curtailed operations over the last year.
Yet regional production was down by only 1.4% last year, a counterintuitive outcome unless the closures were offset by higher output in Russia.
This is possible given Rusal was planning to fire up its new Taishet plant last year, although there has been no recent update on the 428,500-tonne per year project.
STOP START IN CHINA
China's production of 40.39 million tonnes of aluminium last year was a new annual record but the headline masks considerable chop and change in the country's base smelter network.
New capacity was brought on stream and mothballed capacity restarted in some provinces, while in others power restrictions translated into mandatory curtailments for smelter operators.
The balance flipped from fast growth in the first half of 2022 to sliding output over the closing months.
This year has seen no repeat of the blanket restrictions imposed during the 2021 winter energy crunch but drought in the southwest of the country is weighing on smelter operating rates. Some two million tonnes of capacity in Yunnan, Sichuan and Guizhou was off-line at the end of 2022, according to Shanghai Metal Market.
It's unlikely to return until the second quarter, when the rainy season should restore depleted reservoir levels in the region's hydro power system.
There is still plenty of room for production growth in China with the government capacity cap of 45 million tonnes not yet reached.
However, the last two years have shown that it is increasingly rare for China to run at its existing capacity for any prolonged period of time before power restrictions of one sort or another are imposed by provincial governments looking to balance energy loads.
GREEN PRESSURE
It's noticeable that the drought problems in China's southwest haven't deterred aluminium producers from transferring capacity there from coal-powered provinces in the quest for metal with a lower carbon footprint.
The pressure to go green is also becoming a key factor in smelter restarts in the rest of the world.
Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. A key driver was the restart of the Alumar smelter in Brazil based on a switch to renewable power. Ramp-up is taking a bit longer than planned, according to 40% owner South32 S32.AX, which is not surprising since the plant last operated seven years ago.
Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. It has secured two wind-power deals which would cover 75% of energy needs for the 228,000-tonne per year plant.
Even Slovalco might be resuscitated by Norwegian owner Hydro NHY.OL if the Slovak government can implement the European Union's framework on carbon compensations.
POWER PARADOX
Yet the rush for renewable power merely accentuates the core aluminium paradox. As ever more smelters switch to green energy sources, global aluminium production is ever more dependent on seasonally variable power availability.
Moreover, seasonality itself is changing as global warming brings both longer droughts and hotter summer heat waves, which combine to lift energy usage while depressing power generation.
It has become clear in the last few years that China's aluminium smelters, along with other power-intensive industries, are first in line for mandated curtailments when a province is trying to balance its grid.
Such regional adjustments are now part and parcel of the global aluminium production landscape but they have injected a new degree of volatility into aluminium's previously slow-changing supply side.
They also raise the possibility that China's seemingly unstoppable aluminium juggernaut has run out of road even before reaching the government's capacity cap.
The opinions expressed here are those of the author, a columnist for Reuters.
Western European aluminium smelter production takes an energy hit in 2022https://tmsnrt.rs/3D3qfPh
China's aluminium output peaked in August 2022https://tmsnrt.rs/3R0jm79
(Editing by Kirsten Donovan)
(([email protected], 44-207-542-4412 and on Twitter https://twitter.com/AndyHomeMetals))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. However, the last two years have shown that it is increasingly rare for China to run at its existing capacity for any prolonged period of time before power restrictions of one sort or another are imposed by provincial governments looking to balance energy loads. It's noticeable that the drought problems in China's southwest haven't deterred aluminium producers from transferring capacity there from coal-powered provinces in the quest for metal with a lower carbon footprint. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes. Western European aluminium output was running at an annualised 2.73 million tonnes in December, down by 540,000 tonnes on December 2021 and the lowest production rate this century. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. Slovakia's sole smelter with capacity of 175,000 tonnes per year has closed all primary operations after 70 years of operation. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. | Alcoa AA.N, which owns the balancing 60% stake in Alumar, is also hoping to restart its San Ciprian smelter in Spain after a switch to renewable energy. The country's annualised production peaked in August 2022 at 41.46 million tonnes, since when run-rates have fallen by 600,000 tonnes. Latin America was the fastest-growing aluminium production region last year with output up 10.7% year on year. |
||
568.0 | 2023-01-19 00:00:00 UTC | Pre-market Movers: BMEA, GGE, HUDI, STBX, TIRX… | AA | https://www.nasdaq.com/articles/pre-market-movers%3A-bmea-gge-hudi-stbx-tirx... | (RTTNews) - The following are some of the stocks making big moves in Thursday's pre-market trading (as of 07.00 A.M. ET).
In the Green
Biomea Fusion, Inc. (BMEA) is up over 37% at $12.90. Green Giant Inc. (GGE) is up over 27% at $3.76. Huadi International Group Co., Ltd. (HUDI) is up over 24% at $7.06. Starbox Group Holdings Ltd. (STBX) is up over 17% at $3.51. Monopar Therapeutics Inc. (MNPR) is up over 11% at $3.19. Visteon Corporation (VC) is up over 5% at $150.70.
In the Red
Tian Ruixiang Holdings Ltd (TIRX) is down over 13% at $2.11. Olink Holding AB (publ) (OLK) is down over 12% at $21.13. Innovative Industrial Properties, Inc. (IIPR) is down over 11% at $98.30. Akoustis Technologies, Inc. (AKTS) is down over 10% at $3.19. Magic Empire Global Limited (MEGL) is down over 10% at $2.70. First Wave BioPharma, Inc. (FWBI) is down over 9% at $4.40. Roblox Corporation (RBLX) is down over 7% at $33.25. Veris Residential, Inc. (VRE) is down over 7% at $14.98. Discover Financial Services (DFS) is down over 6% at $95.48. Alcoa Corporation (AA) is down over 6% at $50.13. Kosmos Energy Ltd. (KOS) is down over 6% at $7.21. LiveWire Group, Inc. (LVWR) is down over 5% at $5.03.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation (AA) is down over 6% at $50.13. (RTTNews) - The following are some of the stocks making big moves in Thursday's pre-market trading (as of 07.00 A.M. In the Red Tian Ruixiang Holdings Ltd (TIRX) is down over 13% at $2.11. | Alcoa Corporation (AA) is down over 6% at $50.13. (RTTNews) - The following are some of the stocks making big moves in Thursday's pre-market trading (as of 07.00 A.M. Starbox Group Holdings Ltd. (STBX) is up over 17% at $3.51. | Alcoa Corporation (AA) is down over 6% at $50.13. In the Green Biomea Fusion, Inc. (BMEA) is up over 37% at $12.90. Starbox Group Holdings Ltd. (STBX) is up over 17% at $3.51. | Alcoa Corporation (AA) is down over 6% at $50.13. (RTTNews) - The following are some of the stocks making big moves in Thursday's pre-market trading (as of 07.00 A.M. In the Green Biomea Fusion, Inc. (BMEA) is up over 37% at $12.90. |
||
569.0 | 2023-01-19 00:00:00 UTC | These 2 Stocks Are Yanking the Market Lower Thursday | AA | https://www.nasdaq.com/articles/these-2-stocks-are-yanking-the-market-lower-thursday | Those who hoped that 2023 would be a nice straight-up recovery from last year's bear market felt disappointed Thursday morning, as Wall Street saw stock market indexes give up some more ground after Wednesday's steep drop. Market participants cited concerns about earnings season, uncertainty about the Federal Reserve's next move, and brewing trouble in Washington over the statutory federal debt ceiling, and stock index futures were down almost 1% before the regular trading session started.
Investors have watched the latest financial reports from key companies to get a reading on the current state of the economy from the perspective of both consumers and businesses. The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well.
Discover signals potential consumer weakness
Shares of Discover Financial Services were down 8% in premarket trading Thursday morning. The diversified financial company reported its fourth-quarter financial results, and shareholders saw a mix of strong asset growth but concerning trends among its consumer credit customer base.
Discover's financial results were reasonably solid. Net interest income jumped 24% year over year to $3.07 billion, and noninterest income vaulted higher by nearly half from year-ago levels. However, a big jump in Discover's provision for credit losses weighed on the bottom line, with net income falling 3% to $1.03 billion even as earnings per share rose 4% to $3.77.
Discover boasted record loan growth of 20% to $112 billion, with notable gains in both credit card balances and personal loans. Higher interest rates helped support wider net interest margins, also supporting the consumer finance company's results.
However, what spooked shareholders was news that Discover's charge-off rate jumped from 1.37% in the year-ago period to 2.13%, with a big spike higher in charge-offs on the credit card side just in the past three months. Delinquency rates saw similar gains, raising questions about the power of consumers to help the economy avoid a recession. Despite ongoing stock buybacks from Discover, investors aren't happy to see customers potentially having problems paying their card bills and loan balances, and that has the potential to continue into 2023.
Alcoa suffers sales declines, losses
Elsewhere, shares of Alcoa were down 6% in premarket trading. The aluminum company's fourth-quarter financial results showed ongoing headwinds from challenging market conditions and suggested those obstacles could remain in place for 2023.
Alcoa's financial results were weak. Revenue fell 20% year over year to $2.66 billion, although the aluminum company did manage to post a slightly higher sales figure for the full 2022 year than it did in 2021. Alcoa lost $123 million on an adjusted basis, working out to $0.70 per share and widening dramatically from its performance in the third quarter of 2022. Full-year adjusted earnings fell 29% to $4.83 per share.
High raw materials and energy costs weighed on Alcoa's results, particularly in conjunction with lower pricing in raw alumina and the broader aluminum markets in the fourth quarter. The aluminum specialist anticipates continuing to boost corporate efficiency in an effort to maintain cost discipline.
However, Alcoa anticipates that alumina shipments in 2023 could come in at 12.7 million to 12.9 million metric tons, down half a million tons from the past year. Flat aluminum shipments and rising costs could put continuing pressure on earnings. That doesn't bode well for Alcoa's near-term recovery hopes, and it signals that industrial buyers of lightweight metals might not be as healthy as investors would like.
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Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. Dan Caplinger has no position in any of the stocks mentioned. The Motley Fool recommends Discover Financial Services. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. Investors have watched the latest financial reports from key companies to get a reading on the current state of the economy from the perspective of both consumers and businesses. However, a big jump in Discover's provision for credit losses weighed on the bottom line, with net income falling 3% to $1.03 billion even as earnings per share rose 4% to $3.77. | The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. Discover signals potential consumer weakness Shares of Discover Financial Services were down 8% in premarket trading Thursday morning. Net interest income jumped 24% year over year to $3.07 billion, and noninterest income vaulted higher by nearly half from year-ago levels. | The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. Discover signals potential consumer weakness Shares of Discover Financial Services were down 8% in premarket trading Thursday morning. See the 10 stocks *Stock Advisor returns as of January 9, 2023 Discover Financial Services is an advertising partner of The Ascent, a Motley Fool company. | The releases from Discover Financial Services (NYSE: DFS) and Alcoa (NYSE: AA) helped shed some light on how various parts of the economy are faring, and market participants did their best to draw useful conclusions that they can put to work in evaluating other industries as well. The diversified financial company reported its fourth-quarter financial results, and shareholders saw a mix of strong asset growth but concerning trends among its consumer credit customer base. Net interest income jumped 24% year over year to $3.07 billion, and noninterest income vaulted higher by nearly half from year-ago levels. |
||
570.0 | 2023-01-18 00:00:00 UTC | Alcoa Q4 22 Earnings Conference Call At 5:00 PM ET | AA | https://www.nasdaq.com/articles/alcoa-q4-22-earnings-conference-call-at-5%3A00-pm-et | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on January 18, 2023, to discuss Q4 22 earnings results.
To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx
To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 7412346.
For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 2055303.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on January 18, 2023, to discuss Q4 22 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 7412346. For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 2055303. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on January 18, 2023, to discuss Q4 22 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 7412346. For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 2055303. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on January 18, 2023, to discuss Q4 22 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 7412346. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA) will host a conference call at 5:00 PM ET on January 18, 2023, to discuss Q4 22 earnings results. To access the live webcast, log on to https://investors.alcoa.com/home/default.aspx To listen to the call, dial +1 (877) 883-0383 (US) or +1 (412) 902-6506 (International), Conference ID: 7412346. For a replay call, dial +1 (877) 344-7529 (US) or +1 (412) 317-0088 (International), Access Code: 2055303. |
||
571.0 | 2023-01-18 00:00:00 UTC | 3 Companies Positively Surprising in Earnings Season | AA | https://www.nasdaq.com/articles/3-companies-positively-surprising-in-earnings-season | Earnings season has quickly arrived at our doorstep, and investors are undoubtedly ready for companies to pull the curtain back and unveil what’s transpired behind the scenes.
The big banks kicked off earnings season, and today we’ll receive quarterly results from companies including Alcoa Inc. AA, Discover Financial Services DFS, and Kinder Morgan Inc. KMI.
So far, there have been several companies stealing the spotlight in earnings season so far, including Taiwan Semiconductor Manufacturing TSM, United Air Lines UAL, and JPMorgan Chase & Co JPM.
Below is a chart illustrating the year-to-date performance of all three stocks, with the S&P 500 blended in as a benchmark.
Image Source: Zacks Investment Research
Let’s take a closer look at each one.
United Airlines
United Airlines transports passengers and cargo throughout North America and destinations in Asia, Europe, the Middle East, and Latin America.
The company came out of the gates and reported EPS of $2.46, nearly 19% above our consensus estimate and reflecting a sizable year-over-year change.
Price, Consensus, and EPS
Image Source: Zacks Investment Research
Quarterly revenue was reported at $12.4 billion, roughly 1.4% above expectations and representing a 51% year-over-year increase.
Insiders must have known it was shaping up to be a strong quarter; Edward Shapiro, a director, purchased 25,000 UAL shares in December for roughly $1 million.
Scott Kirby, CEO, said, “Over the last three years, United has made critical investments in tools, infrastructure and our people – all of which are essential investments in our future. That’s why we’ve got a big head start, and we’re now poised to accelerate in 2023 as our United Next strategy becomes a reality.”
Taiwan Semiconductor Manufacturing
Taiwan Semiconductor Manufacturing is the world’s largest circuit foundry. Recently, the stock has come under a lot of attention following a purchase from the legendary Warren Buffett.
TSM exceeded the Zacks Consensus EPS estimate of $1.80 per share by roughly 1%, reporting EPS of $1.82. Quarterly revenue totaled $19.9 billion, marginally below our consensus estimate and reflecting a sizable 26% year-over-year increase.
Image Source: Zacks Investment Research
In addition, the company provided guidance for Q1 2023; TSM expects revenue in the range of $16.7 billion – $17.5 billion and a gross profit margin between 53.5% and 55.5%.
JPMorgan Chase & Co.
Headquartered in New York, JPMorgan Chase & Co. is one of the biggest global banks.
Many were anxious heading into the big banks’ releases, but JPM managed to exceed expectations; the company posted EPS of $3.57, nearly 15% above our $3.11 per share consensus estimate.
The financial titan generated $34.5 billion in revenue, roughly 2% ahead of estimates and reflecting an 18% change from the year-ago quarter.
Image Source: Zacks Investment Research
Jamie Dimon, CEO, said, “Our lines of business performed well in the quarter, and we continued to see momentum in our areas of strategic focus. In Consumer & Community Banking, debit and credit card sales were up 9%, while card loans were up 19% with total revolving balances now back to pre-pandemic levels.
He continued, "In the Corporate & Investment Bank, Markets revenue rose 7% as client activity remained strong in Fixed Income. Global Investment Banking fees were down significantly in a challenging environment, although we maintained our #1 ranking in 2022. Commercial Banking loans were up 14% on new loan originations and higher revolver utilization. And in Asset & Wealth Management, revenue increased 3% as higher net interest income more than offset the impact of lower market levels.”
Bottom Line
With earnings season kicking into higher gear, investors are more than ready to face the music and find out how the quarter went.
We’ll have a plethora of companies reporting for some time, but all three companies above – Taiwan Semiconductor Manufacturing TSM, United Air Lines UAL, and JPMorgan Chase & Co JPM – have gotten their results out of the way already, positively surprising investors.
5 Stocks Set to Double
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The big banks kicked off earnings season, and today we’ll receive quarterly results from companies including Alcoa Inc. AA, Discover Financial Services DFS, and Kinder Morgan Inc. KMI. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Discover Financial Services (DFS) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report To read this article on Zacks.com click here. So far, there have been several companies stealing the spotlight in earnings season so far, including Taiwan Semiconductor Manufacturing TSM, United Air Lines UAL, and JPMorgan Chase & Co JPM. | The big banks kicked off earnings season, and today we’ll receive quarterly results from companies including Alcoa Inc. AA, Discover Financial Services DFS, and Kinder Morgan Inc. KMI. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Discover Financial Services (DFS) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report To read this article on Zacks.com click here. So far, there have been several companies stealing the spotlight in earnings season so far, including Taiwan Semiconductor Manufacturing TSM, United Air Lines UAL, and JPMorgan Chase & Co JPM. | Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Discover Financial Services (DFS) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report To read this article on Zacks.com click here. The big banks kicked off earnings season, and today we’ll receive quarterly results from companies including Alcoa Inc. AA, Discover Financial Services DFS, and Kinder Morgan Inc. KMI. Image Source: Zacks Investment Research Quarterly revenue was reported at $12.4 billion, roughly 1.4% above expectations and representing a 51% year-over-year increase. | The big banks kicked off earnings season, and today we’ll receive quarterly results from companies including Alcoa Inc. AA, Discover Financial Services DFS, and Kinder Morgan Inc. KMI. Click to get this free report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Discover Financial Services (DFS) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report Taiwan Semiconductor Manufacturing Company Ltd. (TSM) : Free Stock Analysis Report Kinder Morgan, Inc. (KMI) : Free Stock Analysis Report To read this article on Zacks.com click here. So far, there have been several companies stealing the spotlight in earnings season so far, including Taiwan Semiconductor Manufacturing TSM, United Air Lines UAL, and JPMorgan Chase & Co JPM. |
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572.0 | 2023-01-18 00:00:00 UTC | Alcoa Corp. Q4 Earnings Summary | AA | https://www.nasdaq.com/articles/alcoa-corp.-q4-earnings-summary | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA):
Earnings: -$374 million in Q4 vs. -$392 million in the same period last year. EPS: -$2.12 in Q4 vs. -$2.11 in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$123 million or -$0.70 per share for the period.
Analysts projected -$0.85 per share Revenue: $2.66 billion in Q4 vs. $3.34 billion in the same period last year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$374 million in Q4 vs. -$392 million in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$123 million or -$0.70 per share for the period. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$374 million in Q4 vs. -$392 million in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$123 million or -$0.70 per share for the period. Analysts projected -$0.85 per share Revenue: $2.66 billion in Q4 vs. $3.34 billion in the same period last year. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$374 million in Q4 vs. -$392 million in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$123 million or -$0.70 per share for the period. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Below are the earnings highlights for Alcoa Corp. (AA): Earnings: -$374 million in Q4 vs. -$392 million in the same period last year. EPS: -$2.12 in Q4 vs. -$2.11 in the same period last year. Excluding items, Alcoa Corp. reported adjusted earnings of -$123 million or -$0.70 per share for the period. |
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573.0 | 2023-01-18 00:00:00 UTC | After-Hours Earnings Report for January 18, 2023 : KMI, DFS, FHN, AA, WTFC, FUL, TCBI, EGBN, PFBC | AA | https://www.nasdaq.com/articles/after-hours-earnings-report-for-january-18-2023-%3A-kmi-dfs-fhn-aa-wtfc-ful-tcbi-egbn-pfbc | The following companies are expected to report earnings after hours on 01/18/2023. Visit our Earnings Calendar for a full list of expected earnings releases.
Kinder Morgan, Inc. (KMI)is reporting for the quarter ending December 31, 2022. The oil (production/pipeline) company's consensus earnings per share forecast from the 4 analysts that follow the stock is $0.31. This value represents a 14.81% increase compared to the same quarter last year. KMI missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -13.79%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for KMI is 16.37 vs. an industry ratio of 0.70, implying that they will have a higher earnings growth than their competitors in the same industry.
Discover Financial Services (DFS)is reporting for the quarter ending December 31, 2022. The financial services company's consensus earnings per share forecast from the 18 analysts that follow the stock is $3.58. This value represents a 1.65% decrease compared to the same quarter last year. DFS missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -3.28%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for DFS is 6.86 vs. an industry ratio of 8.20.
First Horizon Corporation (FHN)is reporting for the quarter ending December 31, 2022. The bank (southwest) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $0.50. This value represents a 4.17% increase compared to the same quarter last year. The last two quarters FHN had negative earnings surprises; the latest report they missed by -2.22%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for FHN is 15.04 vs. an industry ratio of 11.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Alcoa Corporation (AA)is reporting for the quarter ending December 31, 2022. The metal production company's consensus earnings per share forecast from the 3 analysts that follow the stock is $-0.85. This value represents a 134.00% decrease compared to the same quarter last year. AA missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -466.67%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AA is 11.85 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry.
Wintrust Financial Corporation (WTFC)is reporting for the quarter ending December 31, 2022. The bank (midwest) company's consensus earnings per share forecast from the 7 analysts that follow the stock is $2.60. This value represents a 64.56% increase compared to the same quarter last year. WTFC missed the consensus earnings per share in the 2nd calendar quarter of 2022 by -11.83%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for WTFC is 10.28 vs. an industry ratio of 10.30.
H. B. Fuller Company (FUL)is reporting for the quarter ending November 30, 2022. The chemical company's consensus earnings per share forecast from the 4 analysts that follow the stock is $1.24. This value represents a 13.76% increase compared to the same quarter last year. In the past year FUL has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 0.95%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for FUL is 17.33 vs. an industry ratio of 7.20, implying that they will have a higher earnings growth than their competitors in the same industry.
Texas Capital Bancshares, Inc. (TCBI)is reporting for the quarter ending December 31, 2022. The bank (southwest) company's consensus earnings per share forecast from the 9 analysts that follow the stock is $0.98. This value represents a 17.65% decrease compared to the same quarter last year. Zacks Investment Research reports that the 2022 Price to Earnings ratio for TCBI is 19.94 vs. an industry ratio of 11.40, implying that they will have a higher earnings growth than their competitors in the same industry.
Eagle Bancorp, Inc. (EGBN)is reporting for the quarter ending December 31, 2022. The bank (northeast) company's consensus earnings per share forecast from the 2 analysts that follow the stock is $1.16. This value represents a 10.77% decrease compared to the same quarter last year. EGBN missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -5.69%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for EGBN is 9.30 vs. an industry ratio of 9.90.
Preferred Bank (PFBC)is reporting for the quarter ending December 31, 2022. The bank (west) company's consensus earnings per share forecast from the 4 analysts that follow the stock is $2.57. This value represents a 42.78% increase compared to the same quarter last year. In the past year PFBC has beat the expectations every quarter. The highest one was in the 3rd calendar quarter where they beat the consensus by 13.21%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for PFBC is 8.45 vs. an industry ratio of 10.40.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation (AA)is reporting for the quarter ending December 31, 2022. AA missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -466.67%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AA is 11.85 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry. | Zacks Investment Research reports that the 2022 Price to Earnings ratio for AA is 11.85 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry. Alcoa Corporation (AA)is reporting for the quarter ending December 31, 2022. AA missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -466.67%. | Alcoa Corporation (AA)is reporting for the quarter ending December 31, 2022. AA missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -466.67%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AA is 11.85 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry. | Alcoa Corporation (AA)is reporting for the quarter ending December 31, 2022. AA missed the consensus earnings per share in the 3rd calendar quarter of 2022 by -466.67%. Zacks Investment Research reports that the 2022 Price to Earnings ratio for AA is 11.85 vs. an industry ratio of 9.80, implying that they will have a higher earnings growth than their competitors in the same industry. |
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574.0 | 2023-01-18 00:00:00 UTC | Alcoa (AA) Reports Q4 Loss, Tops Revenue Estimates | AA | https://www.nasdaq.com/articles/alcoa-aa-reports-q4-loss-tops-revenue-estimates | Alcoa (AA) came out with a quarterly loss of $0.70 per share versus the Zacks Consensus Estimate of a loss of $0.85. This compares to earnings of $2.50 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 17.65%. A quarter ago, it was expected that this bauxite, alumina and aluminum products company would post earnings of $0.09 per share when it actually produced a loss of $0.33, delivering a surprise of -466.67%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.66 billion for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 2.67%. This compares to year-ago revenues of $3.34 billion. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Alcoa shares have added about 20.7% since the beginning of the year versus the S&P 500's gain of 3.9%.
What's Next for Alcoa?
While Alcoa has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Alcoa: mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.18 on $2.81 billion in revenues for the coming quarter and $2.66 on $11.54 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Metal Products - Distribution is currently in the top 7% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Arconic (ARNC), is yet to report results for the quarter ended December 2022.
This company is expected to post quarterly earnings of $0.35 per share in its upcoming report, which represents a year-over-year change of +40%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Arconic's revenues are expected to be $2.03 billion, down 5.3% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) came out with a quarterly loss of $0.70 per share versus the Zacks Consensus Estimate of a loss of $0.85. Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. A quarter ago, it was expected that this bauxite, alumina and aluminum products company would post earnings of $0.09 per share when it actually produced a loss of $0.33, delivering a surprise of -466.67%. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa (AA) came out with a quarterly loss of $0.70 per share versus the Zacks Consensus Estimate of a loss of $0.85. Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.66 billion for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 2.67%. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa (AA) came out with a quarterly loss of $0.70 per share versus the Zacks Consensus Estimate of a loss of $0.85. Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.66 billion for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 2.67%. | Alcoa (AA) came out with a quarterly loss of $0.70 per share versus the Zacks Consensus Estimate of a loss of $0.85. Click to get this free report Alcoa (AA) : Free Stock Analysis Report Arconic Corporation (ARNC) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa, which belongs to the Zacks Metal Products - Distribution industry, posted revenues of $2.66 billion for the quarter ended December 2022, surpassing the Zacks Consensus Estimate by 2.67%. |
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575.0 | 2023-01-15 00:00:00 UTC | Weekly Preview: Earnings To Watch This Week 1-15-23 (AA, NFLX) | AA | https://www.nasdaq.com/articles/weekly-preview-earnings-to-watch-aa-nflx | D
ownbeat fourth quarter earnings result from some of the world's largest banks such as JPMorgan Chase (JPM) and Citigroup (C) didn’t impede what has been a steady rise in stocks since the new year began. Instead, investors focused on fresh data on consumer sentiment and inflation expectations, which suggests that the economy remains in relatively good standing. But for how long will that pattern sustain itself?
Evidenced by week’s market performance, adding to risk is now the go-to strategy, especially at a time when inflationary pressures have begun to moderate. On Friday, the U.S. economic data for January showed that consumer sentiment index climbed to its highest level since May 2022. This comes at a time when expectations for the rate of inflation one year out moderated. There is now a firm belief that the Federal Reserve should begin cutting rates, not prolonging the rate increases.
For the week, the Dow Jones Industrial Average rose 1.8%, while the S&P 500 index added 2.4%. The tech-heavy Nasdaq Composite index was the clear winner with a gain of 4.5% for the week. This marked the second consecutive week that all three benchmarks were positive on a weekly basis. On Friday the Dow gained 112.64 points, or 0.33%, to close at 34,302.61. The leading gainers on the Dow were, among others, Apple (AAPL), Goldman Sachs (GS), Caterpillar (CAT) and American Express (AXP).
The S&P 500 Index, which was down at one point Friday, ended up 15.92 points, or 0.40%, to close at 3,999.09, while the tech-heavy Nasdaq Composite rose 78.05 points, or 0.71%, to close at 11,079.16. Investors have been looking for reasons to buy the lows the market, particularly oversold names within technology such as FAANG cohorts Amazon (AMZN), Apple, Meta Platforms (META) and Google parent Alphabet (GOOG , GOOGL), which have been ravaged by high interest rates.
One of the major catalysts for stocks were the big banks, which began reporting their Q4 results. They revealed that the recession might be mild, but it has not yet been entirely tamed. Going forward, the results of corporate earnings will take a major focus, driving stocks up or down. Entering the quarter, earnings estimates have been aggressively reduced, creating a low bar for companies to beat. Q4 earnings season kicks into high gear with results expected from technology heavyweight Netflix (NFLX). Can its earnings pull tech stocks out of the doldrums? Netflix is one of several names worth watching this week; here's what to keep note of.
Alcoa (AA) - Reports after the close, Wednesday, Jan. 18
Wall Street expects Alcoa to report a loss of 73 cents per share on revenue of $2.67 billion. This compares to the year-ago quarter when earnings came to $2.50 per share on revenue of $3.34 billion.
What to watch: After a brutal 2022, shares of the aluminum giant have come roaring back, rising 28% in the past six months, while gaining 17% and 12% in the respective 30 days and five days. However, the company still has a long way to go. Currently trading at $54 per share, the stock is still 44% below its 52-week high of $98 per share. The decline in metal stocks have been driven by not only recession fears, but also excess inventory. Aluminum is used in a broad range of industrial and consumer end markets. However, Covid-related lockdowns in China has also impacted aluminum demand, particularly in the automotive sector, while also adding to supply chain disruptions. Analysts at Morgan Stanley believe these headwinds still remain. Citing downward pressure on the company’s profitability and potentially negative earnings revisions, analyst Carlos de Alba downgraded the stock to Equal Weight from Overweight, setting a $56 price target, reduced from $60. He sees material downside to consensus estimates for the current quarter and the entire fiscal year 2023. Back in November, Goldman Sachs analysts cited high expenses for the company, particularly raw material costs and energy costs. Essentially, this is another potential headwind for its profits. Alcoa on Wednesday must speak positively its profitability to get investors excited about the prospects of the aluminum industry and Alcoa stock in particular.
Netflix (NFLX) - Reports after the close, Thursday, Jan. 19
Wall Street expects Netflix to earn 44 cents per share on revenue of $7.82 billion. This compares to the year-ago quarter when earnings were $1.33 per share on $7.71 billion in revenue.
What to watch: Netflix stock has been one of the better performing names in large-cap tech, rising almost 90% in the past six months, besting not only the S&P 500 index, but also the Nasdaq 100 during that time span. With shares already up 15% in 2023, it appears the market has regained its confidence in the streaming giant. But is there still a buying opportunity? The company’s growth initiatives have begun to pay dividends. Not only is the company’s efforts to grow its ad-supported tier working, management has also implemented ways to crack down on password sharing. In its Q3 results, the company’s average revenue per membership (ARM) grew of 8% year over year, accelerating from 6% and 7% growth in the prior two quarters, respectively. Heading into the quarter, it’s possible that the ARM could be even stronger. Regarding the ad-supported tier, which was launched in twelve global markets in November, it exposes Netflix to an estimated $140 billion of brand advertising spending. Combined with the company’s upcoming content launches, there is a compelling case to remain invested in the stock. These assumptions will be answered when Netflix issues its guidance forecast for the next quarter and full year.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The leading gainers on the Dow were, among others, Apple (AAPL), Goldman Sachs (GS), Caterpillar (CAT) and American Express (AXP). Investors have been looking for reasons to buy the lows the market, particularly oversold names within technology such as FAANG cohorts Amazon (AMZN), Apple, Meta Platforms (META) and Google parent Alphabet (GOOG , GOOGL), which have been ravaged by high interest rates. Alcoa (AA) - Reports after the close, Wednesday, Jan. 18 Wall Street expects Alcoa to report a loss of 73 cents per share on revenue of $2.67 billion. | Alcoa (AA) - Reports after the close, Wednesday, Jan. 18 Wall Street expects Alcoa to report a loss of 73 cents per share on revenue of $2.67 billion. The leading gainers on the Dow were, among others, Apple (AAPL), Goldman Sachs (GS), Caterpillar (CAT) and American Express (AXP). Investors have been looking for reasons to buy the lows the market, particularly oversold names within technology such as FAANG cohorts Amazon (AMZN), Apple, Meta Platforms (META) and Google parent Alphabet (GOOG , GOOGL), which have been ravaged by high interest rates. | The leading gainers on the Dow were, among others, Apple (AAPL), Goldman Sachs (GS), Caterpillar (CAT) and American Express (AXP). Investors have been looking for reasons to buy the lows the market, particularly oversold names within technology such as FAANG cohorts Amazon (AMZN), Apple, Meta Platforms (META) and Google parent Alphabet (GOOG , GOOGL), which have been ravaged by high interest rates. Alcoa (AA) - Reports after the close, Wednesday, Jan. 18 Wall Street expects Alcoa to report a loss of 73 cents per share on revenue of $2.67 billion. | The leading gainers on the Dow were, among others, Apple (AAPL), Goldman Sachs (GS), Caterpillar (CAT) and American Express (AXP). Investors have been looking for reasons to buy the lows the market, particularly oversold names within technology such as FAANG cohorts Amazon (AMZN), Apple, Meta Platforms (META) and Google parent Alphabet (GOOG , GOOGL), which have been ravaged by high interest rates. Alcoa (AA) - Reports after the close, Wednesday, Jan. 18 Wall Street expects Alcoa to report a loss of 73 cents per share on revenue of $2.67 billion. |
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576.0 | 2023-01-12 00:00:00 UTC | Fed Fodder Highlights Holiday-Shortened Week | AA | https://www.nasdaq.com/articles/fed-fodder-highlights-holiday-shortened-week | Next week brings pivotal data, with 2023 now in full swing. Though the stock market will be closed on Monday for Martin Luther King Day Jr., investors will be eyeing the Federal Reserve's Beige Book in hopes it will offer clues as to the health of the U.S. economy.
The earnings docket starts to heat up too. Keep an eye on reports from Alcoa (AA), American Airlines (AAL), Charles Schwab (SCHW), Goldman Sachs (GS), Morgan Stanley (MS), Netflix (NFLX), Procter & Gamble (PG), Silvergate Capital (SI), and United Airlines (UAL).
Below is a list of key market events scheduled for the upcoming week. All economic dates listed below are tentative and subject to change.
The market will be closed on Monday, Jan. 16 in observance of Martin Luther King Jr. Day.
Investors will return from the holiday on Tuesday, Jan. 17 to the Empire state manufacturing index.
The Beige Book comes out Wednesday, Jan. 18, while retail sales, industrial production, and capacity utilization data are on tap as well. Plus, the final demand producer price index (PPI), the National Association of Home Builders (NAHB) home builders' index, and business inventories are also due out.
Thursday, Jan. 19 brings the classic jobless claims, as well as building permits and housing starts. Investors will also be eyeing the Philadelphia Fed manufacturing index.
The week closes out with existing home sales on Friday, Jan. 20.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Keep an eye on reports from Alcoa (AA), American Airlines (AAL), Charles Schwab (SCHW), Goldman Sachs (GS), Morgan Stanley (MS), Netflix (NFLX), Procter & Gamble (PG), Silvergate Capital (SI), and United Airlines (UAL). Though the stock market will be closed on Monday for Martin Luther King Day Jr., investors will be eyeing the Federal Reserve's Beige Book in hopes it will offer clues as to the health of the U.S. economy. The Beige Book comes out Wednesday, Jan. 18, while retail sales, industrial production, and capacity utilization data are on tap as well. | Keep an eye on reports from Alcoa (AA), American Airlines (AAL), Charles Schwab (SCHW), Goldman Sachs (GS), Morgan Stanley (MS), Netflix (NFLX), Procter & Gamble (PG), Silvergate Capital (SI), and United Airlines (UAL). Though the stock market will be closed on Monday for Martin Luther King Day Jr., investors will be eyeing the Federal Reserve's Beige Book in hopes it will offer clues as to the health of the U.S. economy. The market will be closed on Monday, Jan. 16 in observance of Martin Luther King Jr. Day. | Keep an eye on reports from Alcoa (AA), American Airlines (AAL), Charles Schwab (SCHW), Goldman Sachs (GS), Morgan Stanley (MS), Netflix (NFLX), Procter & Gamble (PG), Silvergate Capital (SI), and United Airlines (UAL). Though the stock market will be closed on Monday for Martin Luther King Day Jr., investors will be eyeing the Federal Reserve's Beige Book in hopes it will offer clues as to the health of the U.S. economy. Plus, the final demand producer price index (PPI), the National Association of Home Builders (NAHB) home builders' index, and business inventories are also due out. | Keep an eye on reports from Alcoa (AA), American Airlines (AAL), Charles Schwab (SCHW), Goldman Sachs (GS), Morgan Stanley (MS), Netflix (NFLX), Procter & Gamble (PG), Silvergate Capital (SI), and United Airlines (UAL). Though the stock market will be closed on Monday for Martin Luther King Day Jr., investors will be eyeing the Federal Reserve's Beige Book in hopes it will offer clues as to the health of the U.S. economy. Thursday, Jan. 19 brings the classic jobless claims, as well as building permits and housing starts. |
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577.0 | 2023-01-12 00:00:00 UTC | Notable ETF Inflow Detected - XME, CLF, AA, UEC | AA | https://www.nasdaq.com/articles/notable-etf-inflow-detected-xme-clf-aa-uec | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Metals & Mining ETF (Symbol: XME) where we have detected an approximate $252.9 million dollar inflow -- that's a 12.1% increase week over week in outstanding units (from 38,500,000 to 43,150,000). Among the largest underlying components of XME, in trading today Cleveland-Cliffs Inc (Symbol: CLF) is up about 4.8%, Alcoa Corporation (Symbol: AA) is down about 1.7%, and Uranium Energy Corp (Symbol: UEC) is lower by about 0.7%. For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average:
Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $54.49. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs had notable inflows »
Also see:
Institutional Holders of VT
FNDB shares outstanding history
CURI Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of XME, in trading today Cleveland-Cliffs Inc (Symbol: CLF) is up about 4.8%, Alcoa Corporation (Symbol: AA) is down about 1.7%, and Uranium Energy Corp (Symbol: UEC) is lower by about 0.7%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of XME, in trading today Cleveland-Cliffs Inc (Symbol: CLF) is up about 4.8%, Alcoa Corporation (Symbol: AA) is down about 1.7%, and Uranium Energy Corp (Symbol: UEC) is lower by about 0.7%. For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $54.49. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ». | Among the largest underlying components of XME, in trading today Cleveland-Cliffs Inc (Symbol: CLF) is up about 4.8%, Alcoa Corporation (Symbol: AA) is down about 1.7%, and Uranium Energy Corp (Symbol: UEC) is lower by about 0.7%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Metals & Mining ETF (Symbol: XME) where we have detected an approximate $252.9 million dollar inflow -- that's a 12.1% increase week over week in outstanding units (from 38,500,000 to 43,150,000). For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $54.49. | Among the largest underlying components of XME, in trading today Cleveland-Cliffs Inc (Symbol: CLF) is up about 4.8%, Alcoa Corporation (Symbol: AA) is down about 1.7%, and Uranium Energy Corp (Symbol: UEC) is lower by about 0.7%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P Metals & Mining ETF (Symbol: XME) where we have detected an approximate $252.9 million dollar inflow -- that's a 12.1% increase week over week in outstanding units (from 38,500,000 to 43,150,000). For a complete list of holdings, visit the XME Holdings page » The chart below shows the one year price performance of XME, versus its 200 day moving average: Looking at the chart above, XME's low point in its 52 week range is $39.83 per share, with $66.63 as the 52 week high point — that compares with a last trade of $54.49. |
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578.0 | 2023-01-12 00:00:00 UTC | Will Alcoa (AA) Disappoint in Q4 Earnings on Lower Shipments? | AA | https://www.nasdaq.com/articles/will-alcoa-aa-disappoint-in-q4-earnings-on-lower-shipments | Alcoa Corporation AA is scheduled to release fourth-quarter 2022 results on Jan 18, after market close.
The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, while missing in one.
Let’s see how things are shaping up for Alcoa this earnings season.
Alcoa Price and EPS Surprise
Alcoa price-eps-surprise | Alcoa Quote
Factors to Note
Alcoa’s fourth-quarter performance is likely to have been hurt by lower shipments in Alumina due to reduced production rates at the San Ciprián refinery in Spain to combat high natural gas prices and lower volumes in Aluminum due to reduced trade in Europe amid ongoing geopolitical tensions among other factors. The Zacks Consensus Estimate for sales in the fourth quarter indicates a 22.4% decline from the year-ago reported figure.
High energy costs, primarily in Europe due to war tensions and raw material cost inflation, are expected to have dented Alcoa’s bottom line in the fourth quarter.
The Bauxite segment’s performance is likely to have suffered due to lower shipments as a result of decreased demand in the Atlantic bauxite market and lower demand from some Alumina segment refineries, among other factors. The Zacks Consensus Estimate for the unit’s fourth-quarter sales (third-party sales + intersegment sales) hints at a 4.7% decrease from the year-ago reported number.
An anticipated reduction in shipments in the Alumina segment is expected to have weighed on total sales (third-party sales + intersegment sales). The consensus estimate for total Alumina sales in the fourth quarter suggests a 27.5% plunge from the year-ago reported number.
The Aluminum segment sales are likely to reflect the impact of lower shipments due to the partial curtailment of the Warrick smelter, among other factors and reduced trading activities. The Zacks Consensus Estimate for total sales from the segment shows a 24.5% drop from the fourth quarter of 2021 reported figure.
What Does the Zacks Model Say?
Our proven model does not conclusively predict an earnings beat for Alcoa this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates, which is not the case here, as elaborated below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Alcoa has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate is pegged at a loss of 76 cents. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Alcoa currently carries a Zacks Rank #3.
Highlights of Q3 Earnings
In the third quarter of 2022, Alcoa incurred a loss of 33 cents per share, wider than the Zacks Consensus Estimate of a loss of 9 cents. In the year-ago period, the company had reported earnings of $2.05 per share. Total revenues of $2.85 billion missed the Zacks Consensus Estimate by 4.33%. The top line declined 8.4% year over year.
Stocks to Consider
Here are some companies you may want to consider from the Zacks Industrial Products sector, as our model shows that these have the right combination of elements to post an earnings beat this season:
Caterpillar CAT has an Earnings ESP of +1.87% and a Zacks Rank #3. The company is scheduled to release fourth-quarter earnings numbers on Jan 31.
The Zacks Consensus Estimate for Caterpillar’s fourth-quarter earnings has been revised upward by 1% in the past 60 days. CAT pulled off a trailing four-quarter earnings surprise of 14.7%, on average.
IDEX Corporation IEX has an Earnings ESP of +0.44% and a Zacks Rank #2. The company is slated to release fourth-quarter financial numbers on Jan 31.
The Zacks Consensus Estimate for IDEX’s fourth-quarter earnings has been revised upward by a penny in the past 60 days. IEX delivered a trailing four-quarter earnings surprise of 5.7%, on average.
Xylem XYL has an Earnings ESP of +1.27% and a Zacks Rank #2. The company is set to release fourth-quarter results on Feb 7.
The Zacks Consensus Estimate for Xylem’s fourth-quarter earnings has remained steady in the past 60 days. XYL pulled off a trailing four-quarter earnings surprise of 13.3%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa Corporation AA is scheduled to release fourth-quarter 2022 results on Jan 18, after market close. Click to get this free report Caterpillar Inc. (CAT) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report IDEX Corporation (IEX) : Free Stock Analysis Report Xylem Inc. (XYL) : Free Stock Analysis Report To read this article on Zacks.com click here. The Aluminum segment sales are likely to reflect the impact of lower shipments due to the partial curtailment of the Warrick smelter, among other factors and reduced trading activities. | Click to get this free report Caterpillar Inc. (CAT) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report IDEX Corporation (IEX) : Free Stock Analysis Report Xylem Inc. (XYL) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Corporation AA is scheduled to release fourth-quarter 2022 results on Jan 18, after market close. The Bauxite segment’s performance is likely to have suffered due to lower shipments as a result of decreased demand in the Atlantic bauxite market and lower demand from some Alumina segment refineries, among other factors. | Click to get this free report Caterpillar Inc. (CAT) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report IDEX Corporation (IEX) : Free Stock Analysis Report Xylem Inc. (XYL) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa Corporation AA is scheduled to release fourth-quarter 2022 results on Jan 18, after market close. The Zacks Consensus Estimate for the unit’s fourth-quarter sales (third-party sales + intersegment sales) hints at a 4.7% decrease from the year-ago reported number. | Alcoa Corporation AA is scheduled to release fourth-quarter 2022 results on Jan 18, after market close. Click to get this free report Caterpillar Inc. (CAT) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report IDEX Corporation (IEX) : Free Stock Analysis Report Xylem Inc. (XYL) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Consensus Estimate for sales in the fourth quarter indicates a 22.4% decline from the year-ago reported figure. |
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579.0 | 2023-01-12 00:00:00 UTC | Earnings Preview for the Week of January 16th | AA | https://www.nasdaq.com/articles/earnings-preview-for-the-week-of-january-16th | This week, investors focus on the upcoming inflation number. However, once that is in the rearview mirror, the focus will turn back to earnings season – which we are in the thick of currently. Below are the earnings reports to watch for the week of January 16th:
Tuesday, January 17th
New Oriental Education EDU is a stock that has illustrated Chinese market sentiment to perfection. In March of 2021, the stock neared $200 a share. Fast forward one year, and shares collapsed below $9 per share.
Image Source: Zacks Investment Research
Pictured: EDU had a nasty 2022 but shares are on the mend.
The Chinese provider of language education and prep courses was adversely impacted by China’s slowing economy and stringent Covid 19 lockdown policy. Now, the Chinese government is once again unlocking their markets by lifting the lockdowns and providing stimulus to an ailing economy. Consensus analyst estimates suggest that as China’s economy normalizes, so will New Oriental Education’s earnings. If this is the case, the stock may just be starting its rebound.
Image Source: Zacks Investment Research
Pictured: Estimate Revisions are rising for EDU and other Chinese stocks.
Interactive Brokers IBKR. A rising interest rate environment (like the one we’re in now) is often a headwind for most stocks. However, Interactive Brokers, a multi-asset class online broker that caters to sophisticated traders, is one exception. On its October 17thearnings call the company announced an earnings surprise. The catalyst? IBKR saw its revenue from margin loans to customers spike dramatically as rates rose.
Image Source: Zacks Investment Research
Pictured: IBKR hopes to keep its earnings momentum up as interest rates rise.
Interactive Brokers has a healthy Expected EPS 3-5 Year Growth Rate of 22.47% and holds the best possible Zack’s #1 ranking, suggesting that last quarter’s results may not be a one-and-done. In an impressive show of relative price strength, the stock sits less than 5% off its all-time high while the major U.S. indexes remain well off their highs.
Image Source: Zacks Investment Research
Pictured: IBKR and other stock brokers are outperforming the market in recent months.
Goldman Sachs GS and Morgan Stanley MS are leading investment management and banking companies. Like most stocks, banks performed poorly last year. Goldman Sachs and Morgan Stanley hold mediocre Zack’s Rankings of 3. That said, a surprise to the upside may help these stocks turn around. Valuations are getting more attractive. For example, GS has a P/E ratio of just 9.52, which compares favorably to the S&P 500 Indexes 17.8.
Image Source: Zacks Investment Research
Pictured: Banks like GS are starting to get attractive on a valuation basis. We will get more info next week when they report.
Another positive development in the sector is the technical picture. GS, MS, and JP Morgan JPM are all experiencing “golden crosses”. A golden cross occurs when the 50-day moving average crosses above the 200-day moving average. Golden crosses favor bulls.
Image Source: Zacks Investment Research
Pictured: GS 50-day has crossed over its 200-day moving average to signal a golden cross.
United Airlines UAL, the holding company for United Airlines and Continental Airlines, has been on a tear for the past two weeks. In the upcoming quarter, United is expected to post earnings of $2.09 per share up a strong 230% versus last year. More importantly, Zack’s Consensus Estimates have been on the rise and have changed by 27.4% over the past 30 days. Zacks Research suggests that rising consensus estimates is one of the key ingredients to finding winning stocks. UAL currently holds an overall Zacks Ranking of 2.
Image Source: Zacks Investment Research
Pictured: UAL is estimated to have massive growth versus last year. The stock rose yesterday even as most domestic flights were cancelled.
Wednesday, airlines like Delta DAL and United rose even as a temporary grounding by the Federal Aviation Administration (FAA) grounded all flights. Delta is set to report earnings Friday. With airlines like UAL up nearly 25% in the past two weeks into earnings, investors should be sizing up whether the risk-reward is worth it or if it is better to watch from the sidelines. Either way, the industry seems to be turning the corner.
Wednesday, January 18th
Charles Schwab SCHW is a securities brokerage, loan holding company, and asset management firm. Like its industry group peer Interactive Brokers, the stock has outperformed the general market, although it maintains a mid-tier Zack’s Ranking of 3.
Alcoa AA is the leading aluminum miner in the world. Earnings and revenues are set to slow for a second straight quarter as consensus EPS estimates for the quarter have been revised lower by 33.33% over the past 30 days. A key technical zone to watch will be the 200-day moving average. The stock is trying to clear the technical level for the first time since early 2022.
Image Source: Zacks Investment Research
Pictured: Alcoa is trying to pop back above its 200-day moving average.
Thursday, January 19th
Netflix NFLX is the streaming spaces pioneer and leader – boasting more than 220.67 million subscribers worldwide. Last year, even though the company beat earnings expectations, shares stumbled as subscriber growth expectations slowed. Shares of Netflix have stormed back since making lows last May. The stock recently triggered a golden cross.
Image Source: Zacks Investment Research
Pictured: Netflix will be a big earnings report for tech. Last year shares weighed down the Nasdaq.
Proctor and Gamble PG is a massive consumer products company. PG is the perfect stock for those who want to avoid drama and sleep at night. The stock has a beta of just 0.42 and pays a healthy dividend of 2.41%.
American Airlines AAL will cap off earnings for the major airlines next week. AAL has seen strong buying in recent days. The stock has been up for eight straight days, of which six were on above-average volume. While it is never prudent to chase price moves, investors should keep their eye on the industry as a potential turnaround play in 2023.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report
JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report
Morgan Stanley (MS) : Free Stock Analysis Report
Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report
United Airlines Holdings Inc (UAL) : Free Stock Analysis Report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
Procter & Gamble Company The (PG) : Free Stock Analysis Report
Alcoa (AA) : Free Stock Analysis Report
The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
American Airlines Group Inc. (AAL) : Free Stock Analysis Report
New Oriental Education & Technology Group, Inc. (EDU) : Free Stock Analysis Report
To read this article on Zacks.com click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Wednesday, airlines like Delta DAL and United rose even as a temporary grounding by the Federal Aviation Administration (FAA) grounded all flights. Alcoa AA is the leading aluminum miner in the world. American Airlines AAL will cap off earnings for the major airlines next week. | Click to get this free report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Morgan Stanley (MS) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report Procter & Gamble Company The (PG) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report New Oriental Education & Technology Group, Inc. (EDU) : Free Stock Analysis Report To read this article on Zacks.com click here. Wednesday, airlines like Delta DAL and United rose even as a temporary grounding by the Federal Aviation Administration (FAA) grounded all flights. Alcoa AA is the leading aluminum miner in the world. | Click to get this free report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Morgan Stanley (MS) : Free Stock Analysis Report Delta Air Lines, Inc. (DAL) : Free Stock Analysis Report United Airlines Holdings Inc (UAL) : Free Stock Analysis Report Netflix, Inc. (NFLX) : Free Stock Analysis Report Procter & Gamble Company The (PG) : Free Stock Analysis Report Alcoa (AA) : Free Stock Analysis Report The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report American Airlines Group Inc. (AAL) : Free Stock Analysis Report New Oriental Education & Technology Group, Inc. (EDU) : Free Stock Analysis Report To read this article on Zacks.com click here. Wednesday, airlines like Delta DAL and United rose even as a temporary grounding by the Federal Aviation Administration (FAA) grounded all flights. Alcoa AA is the leading aluminum miner in the world. | Wednesday, airlines like Delta DAL and United rose even as a temporary grounding by the Federal Aviation Administration (FAA) grounded all flights. Alcoa AA is the leading aluminum miner in the world. American Airlines AAL will cap off earnings for the major airlines next week. |
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580.0 | 2023-01-11 00:00:00 UTC | Alcoa reverts to gas for fuelling alumina refineries in Western Australia | AA | https://www.nasdaq.com/articles/alcoa-reverts-to-gas-for-fuelling-alumina-refineries-in-western-australia | Adds details, background
Jan 12 (Reuters) - Alcoa Corp AA.N said on Thursday it reverted to using gas to fuel boilers at its partially owned Kwinana and Pinjarra alumina refineries in Western Australia, a week after the aluminium producer had resorted to using diesel due to gas shortage.
Gas supply shortage in Western Australia has forced Alcoa to flag a 30% cut in its production from its Kwinana refinery, which it jointly owns with Alumina Ltd AWC.AX.
"Kwinana refinery continues to operate with one production unit offline and reduced process flows," Alcoa said. However, Alcoa did not set out a timeline on when it will resume full production.
Chevron Corp CVX.N on Wednesday re-commenced gas supply from Wheatstone domestic gas plant to the Western Australia market after an equipment failure knocked off the energy firm's 215 terajoules-a-day Wheatstone plant on Jan. 5.
(Reporting by Tejaswi Marthi in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds details, background Jan 12 (Reuters) - Alcoa Corp AA.N said on Thursday it reverted to using gas to fuel boilers at its partially owned Kwinana and Pinjarra alumina refineries in Western Australia, a week after the aluminium producer had resorted to using diesel due to gas shortage. Gas supply shortage in Western Australia has forced Alcoa to flag a 30% cut in its production from its Kwinana refinery, which it jointly owns with Alumina Ltd AWC.AX. "Kwinana refinery continues to operate with one production unit offline and reduced process flows," Alcoa said. | Adds details, background Jan 12 (Reuters) - Alcoa Corp AA.N said on Thursday it reverted to using gas to fuel boilers at its partially owned Kwinana and Pinjarra alumina refineries in Western Australia, a week after the aluminium producer had resorted to using diesel due to gas shortage. Gas supply shortage in Western Australia has forced Alcoa to flag a 30% cut in its production from its Kwinana refinery, which it jointly owns with Alumina Ltd AWC.AX. Chevron Corp CVX.N on Wednesday re-commenced gas supply from Wheatstone domestic gas plant to the Western Australia market after an equipment failure knocked off the energy firm's 215 terajoules-a-day Wheatstone plant on Jan. 5. | Adds details, background Jan 12 (Reuters) - Alcoa Corp AA.N said on Thursday it reverted to using gas to fuel boilers at its partially owned Kwinana and Pinjarra alumina refineries in Western Australia, a week after the aluminium producer had resorted to using diesel due to gas shortage. Gas supply shortage in Western Australia has forced Alcoa to flag a 30% cut in its production from its Kwinana refinery, which it jointly owns with Alumina Ltd AWC.AX. Chevron Corp CVX.N on Wednesday re-commenced gas supply from Wheatstone domestic gas plant to the Western Australia market after an equipment failure knocked off the energy firm's 215 terajoules-a-day Wheatstone plant on Jan. 5. | Adds details, background Jan 12 (Reuters) - Alcoa Corp AA.N said on Thursday it reverted to using gas to fuel boilers at its partially owned Kwinana and Pinjarra alumina refineries in Western Australia, a week after the aluminium producer had resorted to using diesel due to gas shortage. Gas supply shortage in Western Australia has forced Alcoa to flag a 30% cut in its production from its Kwinana refinery, which it jointly owns with Alumina Ltd AWC.AX. "Kwinana refinery continues to operate with one production unit offline and reduced process flows," Alcoa said. |
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581.0 | 2023-01-11 00:00:00 UTC | Earnings Preview: Alcoa (AA) Q4 Earnings Expected to Decline | AA | https://www.nasdaq.com/articles/earnings-preview%3A-alcoa-aa-q4-earnings-expected-to-decline | The market expects Alcoa (AA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2022. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on January 18, 2023, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on theearnings callwill mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus Estimate
This bauxite, alumina and aluminum products company is expected to post quarterly loss of $0.76 per share in its upcoming report, which represents a year-over-year change of -130.4%.
Revenues are expected to be $2.59 billion, down 22.4% from the year-ago quarter.
Estimate Revisions Trend
The consensus EPS estimate for the quarter has been revised 33.33% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Earnings Whisper
Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Alcoa?
For Alcoa, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. This has resulted in an Earnings ESP of 0%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination makes it difficult to conclusively predict that Alcoa will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?
While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Alcoa would post earnings of $0.09 per share when it actually produced a loss of $0.33, delivering a surprise of -466.67%.
Over the last four quarters, the company has beaten consensus EPS estimates three times.
Bottom Line
An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Alcoa doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | The market expects Alcoa (AA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2022. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. | The market expects Alcoa (AA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2022. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). | The market expects Alcoa (AA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2022. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. | The market expects Alcoa (AA) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2022. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. For Alcoa, the Most Accurate Estimate is the same as the Zacks Consensus Estimate, suggesting that there are no recent analyst views which differ from what have been considered to derive the consensus estimate. |
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582.0 | 2023-01-11 00:00:00 UTC | Chevron restarts production at Wheatstone gas plant | AA | https://www.nasdaq.com/articles/chevron-restarts-production-at-wheatstone-gas-plant-0 | Adds details, background
Jan 11 (Reuters) - Chevron Corp's CVX.N Wheatstone domestic gas plant has re-commenced supply to the Western Australia market, a spokesperson for the oil and gas explorer's Australian unit said on Wednesday.
Gas supply to Western Australia had been cut due to an equipment failure that knocked out Chevron's 215 terajoules-a-day Wheatstone plant on Jan. 5.
"Domestic gas production from the plant is expected to steadily increase before reaching full production rates in coming days," the spokesperson added.
Earlier this week, aluminium producer Alcoa CorpAA.N had flagged 30% production cuts at its partially owned Kwinana alumina refinery in Western Australia, due to a shortage of gas supply.
The Wheatstone outage came on top of a loss of supply from Santos Ltd's STO.AXVaranus Island operation, which has been shut since late November due to a leak on a gas pipeline from an offshore platform.
(Reporting by Rishav Chatterjee in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Earlier this week, aluminium producer Alcoa CorpAA.N had flagged 30% production cuts at its partially owned Kwinana alumina refinery in Western Australia, due to a shortage of gas supply. Gas supply to Western Australia had been cut due to an equipment failure that knocked out Chevron's 215 terajoules-a-day Wheatstone plant on Jan. 5. The Wheatstone outage came on top of a loss of supply from Santos Ltd's STO.AXVaranus Island operation, which has been shut since late November due to a leak on a gas pipeline from an offshore platform. | Earlier this week, aluminium producer Alcoa CorpAA.N had flagged 30% production cuts at its partially owned Kwinana alumina refinery in Western Australia, due to a shortage of gas supply. Adds details, background Jan 11 (Reuters) - Chevron Corp's CVX.N Wheatstone domestic gas plant has re-commenced supply to the Western Australia market, a spokesperson for the oil and gas explorer's Australian unit said on Wednesday. Gas supply to Western Australia had been cut due to an equipment failure that knocked out Chevron's 215 terajoules-a-day Wheatstone plant on Jan. 5. | Earlier this week, aluminium producer Alcoa CorpAA.N had flagged 30% production cuts at its partially owned Kwinana alumina refinery in Western Australia, due to a shortage of gas supply. Adds details, background Jan 11 (Reuters) - Chevron Corp's CVX.N Wheatstone domestic gas plant has re-commenced supply to the Western Australia market, a spokesperson for the oil and gas explorer's Australian unit said on Wednesday. Gas supply to Western Australia had been cut due to an equipment failure that knocked out Chevron's 215 terajoules-a-day Wheatstone plant on Jan. 5. | Earlier this week, aluminium producer Alcoa CorpAA.N had flagged 30% production cuts at its partially owned Kwinana alumina refinery in Western Australia, due to a shortage of gas supply. Adds details, background Jan 11 (Reuters) - Chevron Corp's CVX.N Wheatstone domestic gas plant has re-commenced supply to the Western Australia market, a spokesperson for the oil and gas explorer's Australian unit said on Wednesday. Gas supply to Western Australia had been cut due to an equipment failure that knocked out Chevron's 215 terajoules-a-day Wheatstone plant on Jan. 5. |
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583.0 | 2023-01-10 00:00:00 UTC | Alcoa Names William Oplinger COO, Molly Beerman CFO, Effective February 1 | AA | https://www.nasdaq.com/articles/alcoa-names-william-oplinger-coo-molly-beerman-cfo-effective-february-1 | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The changes are effective February 1.
The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. Oplinger has served as Alcoa Corp.'s CFO since November 2016, when the company completed a legal and structural separation from Alcoa Inc.
Further, the company appointed Molly Beerman, currently Senior Vice President and Controller, as EVP and Chief Financial Officer. She will also be the executive member to oversee Alcoa's Information Technology and Automation Solutions team.
The company also announced that Renato Bacchi, currently EVP and Chief Strategy Officer, will take on added responsibilities to become EVP, Chief Strategy & Innovation Officer, including overseeing Alcoa's research and development technologies.
As part of the restructuring, John Slaven, current EVP and Chief Operations Officer, and Benjamin Kahrs, EVP and Chief Innovation Officer, will leave the company.
Alcoa President and CEO Roy Harvey said, "The plan is fully aligned with our Company's purpose and vision to reinvent the aluminum industry, and it will integrate the corporate strategy team with our innovative and breakthrough technologies."
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. Oplinger has served as Alcoa Corp.'s CFO since November 2016, when the company completed a legal and structural separation from Alcoa Inc. Further, the company appointed Molly Beerman, currently Senior Vice President and Controller, as EVP and Chief Financial Officer. Alcoa President and CEO Roy Harvey said, "The plan is fully aligned with our Company's purpose and vision to reinvent the aluminum industry, and it will integrate the corporate strategy team with our innovative and breakthrough technologies." | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. The company also announced that Renato Bacchi, currently EVP and Chief Strategy Officer, will take on added responsibilities to become EVP, Chief Strategy & Innovation Officer, including overseeing Alcoa's research and development technologies. | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. The company also announced that Renato Bacchi, currently EVP and Chief Strategy Officer, will take on added responsibilities to become EVP, Chief Strategy & Innovation Officer, including overseeing Alcoa's research and development technologies. | (RTTNews) - Alcoa Corp. (AA), a bauxite, alumina and aluminum company, announced Tuesdsay the appointment of new Chief Operations Officer and Chief Financial Officer, as part of a restructuring to focus on its strategies to operate as a low-cost, margin-focused, sustainable producer. The changes are effective February 1. The company appointed William Oplinger, currently Executive Vice President or EVP and Chief Financial Officer, as EVP and Chief Operations Officer. |
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584.0 | 2023-01-10 00:00:00 UTC | Bullish Two Hundred Day Moving Average Cross - AA | AA | https://www.nasdaq.com/articles/bullish-two-hundred-day-moving-average-cross-aa | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $52.68, changing hands as high as $53.12 per share. Alcoa Corporation shares are currently trading up about 5.4% on the day. The chart below shows the one year performance of AA shares, versus its 200 day moving average:
Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $52.98.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $52.68, changing hands as high as $53.12 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $52.98. Free Report: Top 8%+ Dividends (paid monthly) Click here to find out which 9 other metals stocks recently crossed above their 200 day moving average » Also see: Institutional Holders of AAMC Institutional Holders of SPDV ALUS Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $52.68, changing hands as high as $53.12 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $52.98. Free Report: Top 8%+ Dividends (paid monthly) Click here to find out which 9 other metals stocks recently crossed above their 200 day moving average » Also see: Institutional Holders of AAMC Institutional Holders of SPDV ALUS Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $52.68, changing hands as high as $53.12 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $52.98. Free Report: Top 8%+ Dividends (paid monthly) Click here to find out which 9 other metals stocks recently crossed above their 200 day moving average » Also see: Institutional Holders of AAMC Institutional Holders of SPDV ALUS Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In trading on Tuesday, shares of Alcoa Corporation (Symbol: AA) crossed above their 200 day moving average of $52.68, changing hands as high as $53.12 per share. The chart below shows the one year performance of AA shares, versus its 200 day moving average: Looking at the chart above, AA's low point in its 52 week range is $33.55 per share, with $98.09 as the 52 week high point — that compares with a last trade of $52.98. Free Report: Top 8%+ Dividends (paid monthly) Click here to find out which 9 other metals stocks recently crossed above their 200 day moving average » Also see: Institutional Holders of AAMC Institutional Holders of SPDV ALUS Options Chain The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
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585.0 | 2023-01-09 00:00:00 UTC | Alcoa's Australia unit flags 30% production cut at alumina refinery | AA | https://www.nasdaq.com/articles/alcoas-australia-unit-flags-30-production-cut-at-alumina-refinery | Adds background on Australia gas prices, further details
Jan 9 (Reuters) - Aluminium producer Alcoa Corp AA.N said on Monday it expects production at its partially owned Kwinana alumina refinery in Western Australia to be cut by about 30% due to a shortage of gas supplies.
An unit of the refinery, majority owned by Alcoa in a joint venture with Alumina Ltd AWC.AX, has been taken offline and process flows will be reduced, the aluminium producer said in statement.
The Kwinana refinery has resorted to using diesel instead of gas for some of its operations, as a result of the shortage.
Alcoa did not set out a timeline for when it will resume full production.
(Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips and Nivedita Bhattacharjee)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background on Australia gas prices, further details Jan 9 (Reuters) - Aluminium producer Alcoa Corp AA.N said on Monday it expects production at its partially owned Kwinana alumina refinery in Western Australia to be cut by about 30% due to a shortage of gas supplies. An unit of the refinery, majority owned by Alcoa in a joint venture with Alumina Ltd AWC.AX, has been taken offline and process flows will be reduced, the aluminium producer said in statement. The Kwinana refinery has resorted to using diesel instead of gas for some of its operations, as a result of the shortage. | Adds background on Australia gas prices, further details Jan 9 (Reuters) - Aluminium producer Alcoa Corp AA.N said on Monday it expects production at its partially owned Kwinana alumina refinery in Western Australia to be cut by about 30% due to a shortage of gas supplies. An unit of the refinery, majority owned by Alcoa in a joint venture with Alumina Ltd AWC.AX, has been taken offline and process flows will be reduced, the aluminium producer said in statement. The Kwinana refinery has resorted to using diesel instead of gas for some of its operations, as a result of the shortage. | Adds background on Australia gas prices, further details Jan 9 (Reuters) - Aluminium producer Alcoa Corp AA.N said on Monday it expects production at its partially owned Kwinana alumina refinery in Western Australia to be cut by about 30% due to a shortage of gas supplies. An unit of the refinery, majority owned by Alcoa in a joint venture with Alumina Ltd AWC.AX, has been taken offline and process flows will be reduced, the aluminium producer said in statement. (Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips and Nivedita Bhattacharjee) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Adds background on Australia gas prices, further details Jan 9 (Reuters) - Aluminium producer Alcoa Corp AA.N said on Monday it expects production at its partially owned Kwinana alumina refinery in Western Australia to be cut by about 30% due to a shortage of gas supplies. An unit of the refinery, majority owned by Alcoa in a joint venture with Alumina Ltd AWC.AX, has been taken offline and process flows will be reduced, the aluminium producer said in statement. The Kwinana refinery has resorted to using diesel instead of gas for some of its operations, as a result of the shortage. |
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586.0 | 2023-01-09 00:00:00 UTC | Alcoa's Australia unit flags production cuts at alumina refinery | AA | https://www.nasdaq.com/articles/alcoas-australia-unit-flags-production-cuts-at-alumina-refinery | Jan 9 (Reuters) - Alcoa Corp AA.N said on Monday a production unit has been taken offline at its partially owned Kwinana alumina refinery in Western Australia as a result of gas supply shortages.
The refinery, owned by Alcoa and Australia-listed Alumina Ltd AWC.AX in a joint venture, will see a 30% reduction in production, the firm said.
(Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips)
(([email protected];))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Jan 9 (Reuters) - Alcoa Corp AA.N said on Monday a production unit has been taken offline at its partially owned Kwinana alumina refinery in Western Australia as a result of gas supply shortages. The refinery, owned by Alcoa and Australia-listed Alumina Ltd AWC.AX in a joint venture, will see a 30% reduction in production, the firm said. (Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Jan 9 (Reuters) - Alcoa Corp AA.N said on Monday a production unit has been taken offline at its partially owned Kwinana alumina refinery in Western Australia as a result of gas supply shortages. The refinery, owned by Alcoa and Australia-listed Alumina Ltd AWC.AX in a joint venture, will see a 30% reduction in production, the firm said. (Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Jan 9 (Reuters) - Alcoa Corp AA.N said on Monday a production unit has been taken offline at its partially owned Kwinana alumina refinery in Western Australia as a result of gas supply shortages. The refinery, owned by Alcoa and Australia-listed Alumina Ltd AWC.AX in a joint venture, will see a 30% reduction in production, the firm said. (Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Jan 9 (Reuters) - Alcoa Corp AA.N said on Monday a production unit has been taken offline at its partially owned Kwinana alumina refinery in Western Australia as a result of gas supply shortages. The refinery, owned by Alcoa and Australia-listed Alumina Ltd AWC.AX in a joint venture, will see a 30% reduction in production, the firm said. (Reporting by Harshita Swaminathan; Editing by Sherry Jacob-Phillips) (([email protected];)) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. |
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587.0 | 2023-01-06 00:00:00 UTC | Alcoa (AA) Gains But Lags Market: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-gains-but-lags-market%3A-what-you-should-know-5 | Alcoa (AA) closed the most recent trading day at $46.36, moving +1.91% from the previous trading session. This change lagged the S&P 500's 2.28% gain on the day. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Heading into today, shares of the bauxite, alumina and aluminum products company had lost 3.79% over the past month, lagging the Industrial Products sector's loss of 2.04% and outpacing the S&P 500's loss of 4.61% in that time.
Alcoa will be looking to display strength as it nears its next earnings release, which is expected to be January 18, 2023. In that report, analysts expect Alcoa to post earnings of -$0.82 per share. This would mark a year-over-year decline of 132.8%. Meanwhile, our latest consensus estimate is calling for revenue of $2.59 billion, down 22.37% from the prior-year quarter.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate has moved 7.99% lower within the past month. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Alcoa is currently trading at a Forward P/E ratio of 16.82. This valuation marks a premium compared to its industry's average Forward P/E of 9.94.
Investors should also note that AA has a PEG ratio of 1.37 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Metal Products - Distribution industry currently had an average PEG ratio of 3.27 as of yesterday's close.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 19, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed the most recent trading day at $46.36, moving +1.91% from the previous trading session. Investors should also note that AA has a PEG ratio of 1.37 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. Alcoa (AA) closed the most recent trading day at $46.36, moving +1.91% from the previous trading session. Investors should also note that AA has a PEG ratio of 1.37 right now. | Alcoa (AA) closed the most recent trading day at $46.36, moving +1.91% from the previous trading session. Investors should also note that AA has a PEG ratio of 1.37 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $46.36, moving +1.91% from the previous trading session. Investors should also note that AA has a PEG ratio of 1.37 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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588.0 | 2023-01-06 00:00:00 UTC | Noteworthy Friday Option Activity: DVA, MRVL, AA | AA | https://www.nasdaq.com/articles/noteworthy-friday-option-activity%3A-dva-mrvl-aa | Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in DaVita Inc (Symbol: DVA), where a total of 5,319 contracts have traded so far, representing approximately 531,900 underlying shares. That amounts to about 74.9% of DVA's average daily trading volume over the past month of 710,000 shares. Particularly high volume was seen for the $87.50 strike call option expiring April 21, 2023, with 2,500 contracts trading so far today, representing approximately 250,000 underlying shares of DVA. Below is a chart showing DVA's trailing twelve month trading history, with the $87.50 strike highlighted in orange:
Marvell Technology Inc (Symbol: MRVL) options are showing a volume of 71,901 contracts thus far today. That number of contracts represents approximately 7.2 million underlying shares, working out to a sizeable 68.7% of MRVL's average daily trading volume over the past month, of 10.5 million shares. Particularly high volume was seen for the $37.50 strike call option expiring March 17, 2023, with 12,259 contracts trading so far today, representing approximately 1.2 million underlying shares of MRVL. Below is a chart showing MRVL's trailing twelve month trading history, with the $37.50 strike highlighted in orange:
And Alcoa Corporation (Symbol: AA) options are showing a volume of 26,049 contracts thus far today. That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 68.2% of AA's average daily trading volume over the past month, of 3.8 million shares. Especially high volume was seen for the $47 strike call option expiring January 20, 2023, with 2,050 contracts trading so far today, representing approximately 205,000 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $47 strike highlighted in orange:
For the various different available expirations for DVA options, MRVL options, or AA options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Especially high volume was seen for the $47 strike call option expiring January 20, 2023, with 2,050 contracts trading so far today, representing approximately 205,000 underlying shares of AA. Below is a chart showing MRVL's trailing twelve month trading history, with the $37.50 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 26,049 contracts thus far today. That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 68.2% of AA's average daily trading volume over the past month, of 3.8 million shares. | That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 68.2% of AA's average daily trading volume over the past month, of 3.8 million shares. Below is a chart showing MRVL's trailing twelve month trading history, with the $37.50 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 26,049 contracts thus far today. Especially high volume was seen for the $47 strike call option expiring January 20, 2023, with 2,050 contracts trading so far today, representing approximately 205,000 underlying shares of AA. | That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 68.2% of AA's average daily trading volume over the past month, of 3.8 million shares. Below is a chart showing MRVL's trailing twelve month trading history, with the $37.50 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 26,049 contracts thus far today. Especially high volume was seen for the $47 strike call option expiring January 20, 2023, with 2,050 contracts trading so far today, representing approximately 205,000 underlying shares of AA. | That number of contracts represents approximately 2.6 million underlying shares, working out to a sizeable 68.2% of AA's average daily trading volume over the past month, of 3.8 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $47 strike highlighted in orange: For the various different available expirations for DVA options, MRVL options, or AA options, visit StockOptionsChannel.com. Below is a chart showing MRVL's trailing twelve month trading history, with the $37.50 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 26,049 contracts thus far today. |
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589.0 | 2023-01-04 00:00:00 UTC | Buy, Sell, or Hold Alcoa Stock As Aluminum Prices Remain Soft? | AA | https://www.nasdaq.com/articles/buy-sell-or-hold-alcoa-stock-as-aluminum-prices-remain-soft | Alcoa (NYSE:AA) stock has declined by close to 10% over the last month and remains down by close to 24% over the past year. Now, the broader markets have taken a hit in recent weeks, amid concerns about a U.S. recession in 2023. The Federal Reserve is also continuing with its hawkish stance with plans of further rate hikes, despite the moderating pace of inflation and this is likely to weigh on demand for industrial commodities. Aluminum prices have also declined from around $2,500 per ton in early December to about $2,400 currently and remain well below levels of over $3,000 per ton seen in early 2022. Moreover, aluminum output from China has also been expanding, driven by relaxed power restrictions and new capacity coming online. Over November 2022, China’s primary aluminum production was up by 9.4% year-over-year. While the impact of this on prices is likely to be partly alleviated by China’s move to raise tariffs on aluminum exports, this could be a negative for the aluminum market.
We remain neutral on Alcoa stock, with a $47 price estimate, which is roughly in line with the current market price. Although there could be near-term headwinds for commodities given the uncertain macro environment, we see a couple of positives for aluminum producers such as Alcoa. Energy prices have cooled off a bit in recent weeks, and this could help Alcoa to an extent. Moreover, rising investments in the renewable energy sector including electric vehicles, charging infrastructure, and solar & wind power plants remain secular drivers for aluminum demand. We also think that Alcoa has an edge over other aluminum producers in the longer run, given its strong balance sheet (net debt of just about $370 million), and relatively greener operations with its smelting operations largely running on hydropower. See our analysis of Alcoa valuation for a closer look at what’s driving our price estimate for Alcoa and how Alcoa’s valuation compares with peers. Also see our analysis of Alcoa Revenue for more details on how Alcoa’s revenues are expected to trend.
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Returns Jan 2023
MTD [1] 2023
YTD [1] 2017-23
Total [2]
AA Return 0% 0% 63%
S&P 500 Return 0% 0% 71%
Trefis Multi-Strategy Portfolio 0% 0% 215%
[1] Month-to-date and year-to-date as of 1/2/2023
[2] Cumulative total returns since the end of 2016
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (NYSE:AA) stock has declined by close to 10% over the last month and remains down by close to 24% over the past year. Total [2] AA Return 0% 0% 63% S&P 500 Return 0% 0% 71% Trefis Multi-Strategy Portfolio 0% 0% 215% [1] Month-to-date and year-to-date as of 1/2/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. The Federal Reserve is also continuing with its hawkish stance with plans of further rate hikes, despite the moderating pace of inflation and this is likely to weigh on demand for industrial commodities. | Alcoa (NYSE:AA) stock has declined by close to 10% over the last month and remains down by close to 24% over the past year. Total [2] AA Return 0% 0% 63% S&P 500 Return 0% 0% 71% Trefis Multi-Strategy Portfolio 0% 0% 215% [1] Month-to-date and year-to-date as of 1/2/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. We remain neutral on Alcoa stock, with a $47 price estimate, which is roughly in line with the current market price. | Total [2] AA Return 0% 0% 63% S&P 500 Return 0% 0% 71% Trefis Multi-Strategy Portfolio 0% 0% 215% [1] Month-to-date and year-to-date as of 1/2/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Alcoa (NYSE:AA) stock has declined by close to 10% over the last month and remains down by close to 24% over the past year. We remain neutral on Alcoa stock, with a $47 price estimate, which is roughly in line with the current market price. | Total [2] AA Return 0% 0% 63% S&P 500 Return 0% 0% 71% Trefis Multi-Strategy Portfolio 0% 0% 215% [1] Month-to-date and year-to-date as of 1/2/2023 [2] Cumulative total returns since the end of 2016 Invest with Trefis Market Beating Portfolios See all Trefis Price Estimates The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Alcoa (NYSE:AA) stock has declined by close to 10% over the last month and remains down by close to 24% over the past year. We remain neutral on Alcoa stock, with a $47 price estimate, which is roughly in line with the current market price. |
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590.0 | 2023-01-03 00:00:00 UTC | Alcoa (AA) Dips More Than Broader Markets: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-dips-more-than-broader-markets%3A-what-you-should-know-7 | Alcoa (AA) closed the most recent trading day at $44.58, moving -1.96% from the previous trading session. This move lagged the S&P 500's daily loss of 0.4%. Elsewhere, the Dow lost 0.03%, while the tech-heavy Nasdaq lost 4.72%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had lost 2.26% over the past month. This has was narrower than the Industrial Products sector's loss of 3.88% and the S&P 500's loss of 5.57% in that time.
Investors will be hoping for strength from Alcoa as it approaches its next earnings release, which is expected to be January 18, 2023. On that day, Alcoa is projected to report earnings of -$0.82 per share, which would represent a year-over-year decline of 132.8%. Our most recent consensus estimate is calling for quarterly revenue of $2.59 billion, down 22.37% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Alcoa. Recent revisions tend to reflect the latest near-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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 7.99% lower. Alcoa is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Alcoa is currently trading at a Forward P/E ratio of 9.92. For comparison, its industry has an average Forward P/E of 7.07, which means Alcoa is trading at a premium to the group.
We can also see that AA currently has a PEG ratio of 0.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Metal Products - Distribution stocks are, on average, holding a PEG ratio of 3.12 based on yesterday's closing prices.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) closed the most recent trading day at $44.58, moving -1.96% from the previous trading session. We can also see that AA currently has a PEG ratio of 0.81. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $44.58, moving -1.96% from the previous trading session. We can also see that AA currently has a PEG ratio of 0.81. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $44.58, moving -1.96% from the previous trading session. We can also see that AA currently has a PEG ratio of 0.81. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Alcoa (AA) closed the most recent trading day at $44.58, moving -1.96% from the previous trading session. We can also see that AA currently has a PEG ratio of 0.81. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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591.0 | 2022-12-29 00:00:00 UTC | AA vs. ARNC: Should You Buy These Aluminum Stocks? | AA | https://www.nasdaq.com/articles/aa-vs.-arnc%3A-should-you-buy-these-aluminum-stocks | Aluminum is the third-most-common element in the Earth's crust, and several industry trends suggest demand could surge in the coming years. However, supply trends aren't as pretty, making aluminum stocks unattractive in the near term. Nonetheless, in this piece, we compared two aluminum manufacturer stocks to see which is better. Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path.
Alcoa (AA)
Alcoa has some things going for it versus Arconic, but it also has some things working against it. Alcoa's balance sheet is in decent shape, and it's becoming a leader in low-carbon aluminum. However, low aluminum prices are weighing on its results, and it's struggling to turn a profit (it lost $120 million in the past 12 months). Additionally, it's looking more and more like a supply glut is building. As a result, a neutral view looks appropriate for Alcoa at this time.
The aluminum industry as a whole is going through a transitional period. Jorge Vazquez of consultancy Harbor Aluminum told The Street that excess aluminum inventory is a growing risk. While demand surged this year, it's starting to ease, meaning the oversupply built up during the pandemic may be sitting in stockpiles for a while.
Over the long term, aluminum sales could reach $238 billion by 2028, up from $142 billion in 2021. The metal's price reached an all-time high earlier this year due to a post-pandemic consumption boom that boosted demand for electric vehicles, equipment to generate renewable energy, and appliances. Additionally, the transition to EVs has increased the amount of aluminum typically used for automobiles from about 300 pounds per vehicle to between 500 and 800 pounds.
However, for now, Alcoa is struggling to turn a profit, and Wall Street is punishing unprofitable companies. Additionally, rising interest rates are likely to take a bite out of vehicle purchases. With $1.4 billion in cash and equivalents, the good news is that the company looks like it might have enough cash to make it through until the secular trends for aluminum turn around.
What is the Price Target for AA Stock?
Alcoa has a Moderate Buy consensus rating based on three Buys, five Holds, and zero Sell ratings assigned over the last three months. At $46, the average price target for Alcoa implies downside potential of 1.2%.
Arconic (ARNC)
Arconic faces most of the same problems as Alcoa, although its biggest problem is its balance sheet — especially since it's struggling to turn a profit right now. Although the company's debt position isn't dire, it could take some time for it to turn around. Thus, a bearish view looks appropriate, at least for now.
Arconic also faces the additional issue of aluminum prices. While it benefits from high prices to some extent, it also takes a hit because aluminum is one of its input materials to make the products it sells to the automotive, aerospace, industrial, and commercial transportation industries.
Management cut its estimates with Arconic's third-quarter earnings report, further cementing concerns about the company's near term. The company's cost of goods sold has gone up meaningfully year-over-year, rising from $1.7 billion to $2.1 billion and resulting in a third-quarter operating loss of $36 million.
With only $312 million in cash and equivalents and $2 billion in current liabilities, Arconic might have trouble making it through to better days. However, if it can manage to do so, its products address attractive end markets like electric vehicles, where demand is set to explode. Arconic did manage to sell its Russian operations for $230 million, so that is a spot of much-needed good news.
What is the Price Target for ARNC Stock?
Arconic has a Moderate Buy consensus rating based on one Buy, two Holds, and zero Sell ratings assigned over the last three months. At $23.33, the average price target for Arconic implies upside potential of 10%.
Conclusion: Neutral on AA, Bearish on ARNC
The secular trends in the aluminum industry are simply unattractive right now. Both Alcoa and Arconic are struggling to turn a profit while a supply glut appears to be building, so neither looks attractive in the near term. However, Arconic's debt could become a problem, especially as it struggles to turn a profit. Thus, a neutral view looks appropriate for Alcoa, with a bearish view for Arconic.
In the long term, the aluminum industry looks bright due to the metal's role as a key ingredient in the transition to clean energy. Thus, if these companies can survive, Alcoa and Arconic could eventually be in very attractive positions.
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Disclosure
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. Alcoa (AA) Alcoa has some things going for it versus Arconic, but it also has some things working against it. What is the Price Target for AA Stock? | Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. Alcoa (AA) Alcoa has some things going for it versus Arconic, but it also has some things working against it. What is the Price Target for AA Stock? | Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. Alcoa (AA) Alcoa has some things going for it versus Arconic, but it also has some things working against it. What is the Price Target for AA Stock? | What is the Price Target for AA Stock? Conclusion: Neutral on AA, Bearish on ARNC The secular trends in the aluminum industry are simply unattractive right now. Alcoa (NYSE:AA) and Arconic (NYSE:ARNC) were once part of the same company under the Alcoa name, but the separation in 2016 has set each on their own path. |
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592.0 | 2022-12-29 00:00:00 UTC | February 2023 Options Now Available For Alcoa (AA) | AA | https://www.nasdaq.com/articles/february-2023-options-now-available-for-alcoa-aa | Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the February 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new February 2023 contracts and identified one put and one call contract of particular interest.
The put contract at the $44.00 strike price has a current bid of $2.77. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $44.00, but will also collect the premium, putting the cost basis of the shares at $41.23 (before broker commissions). To an investor already interested in purchasing shares of AA, that could represent an attractive alternative to paying $45.83/share today.
Because the $44.00 strike represents an approximate 4% discount to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the put contract would expire worthless. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Stock Options Channel will track those odds over time to see how they change, publishing a chart of those numbers on our website under the contract detail page for this contract. Should the contract expire worthless, the premium would represent a 6.30% return on the cash commitment, or 53.44% annualized — at Stock Options Channel we call this the YieldBoost.
Below is a chart showing the trailing twelve month trading history for Alcoa Corporation, and highlighting in green where the $44.00 strike is located relative to that history:
Turning to the calls side of the option chain, the call contract at the $47.00 strike price has a current bid of $3.35. If an investor was to purchase shares of AA stock at the current price level of $45.83/share, and then sell-to-open that call contract as a "covered call," they are committing to sell the stock at $47.00. Considering the call seller will also collect the premium, that would drive a total return (excluding dividends, if any) of 9.86% if the stock gets called away at the February 2023 expiration (before broker commissions). Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $47.00 strike highlighted in red:
Considering the fact that the $47.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. On our website under the contract detail page for this contract, Stock Options Channel will track those odds over time to see how they change and publish a chart of those numbers (the trading history of the option contract will also be charted). Should the covered call contract expire worthless, the premium would represent a 7.31% boost of extra return to the investor, or 62.05% annualized, which we refer to as the YieldBoost.
Meanwhile, we calculate the actual trailing twelve month volatility (considering the last 252 trading day closing values as well as today's price of $45.83) to be 67%. For more put and call options contract ideas worth looking at, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Of course, a lot of upside could potentially be left on the table if AA shares really soar, which is why looking at the trailing twelve month trading history for Alcoa Corporation, as well as studying the business fundamentals becomes important. Below is a chart showing AA's trailing twelve month trading history, with the $47.00 strike highlighted in red: Considering the fact that the $47.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the February 2023 expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $47.00 strike highlighted in red: Considering the fact that the $47.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. The current analytical data (including greeks and implied greeks) suggest the current odds of that happening are 99%. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the February 2023 expiration. | Below is a chart showing AA's trailing twelve month trading history, with the $47.00 strike highlighted in red: Considering the fact that the $47.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the February 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new February 2023 contracts and identified one put and one call contract of particular interest. | Below is a chart showing AA's trailing twelve month trading history, with the $47.00 strike highlighted in red: Considering the fact that the $47.00 strike represents an approximate 3% premium to the current trading price of the stock (in other words it is out-of-the-money by that percentage), there is also the possibility that the covered call contract would expire worthless, in which case the investor would keep both their shares of stock and the premium collected. Investors in Alcoa Corporation (Symbol: AA) saw new options become available today, for the February 2023 expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the AA options chain for the new February 2023 contracts and identified one put and one call contract of particular interest. |
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593.0 | 2022-12-28 00:00:00 UTC | MDYV, RRX, AA, UGI: Large Outflows Detected at ETF | AA | https://www.nasdaq.com/articles/mdyv-rrx-aa-ugi%3A-large-outflows-detected-at-etf | Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $552.6 million dollar outflow -- that's a 18.9% decrease week over week (from 45,350,000 to 36,800,000). Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.1%, Alcoa Corporation (Symbol: AA) is down about 2.2%, and UGI Corp. (Symbol: UGI) is lower by about 0.4%. For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average:
Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $73.01 as the 52 week high point — that compares with a last trade of $64.26. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Click here to find out which 9 other ETFs experienced notable outflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.1%, Alcoa Corporation (Symbol: AA) is down about 2.2%, and UGI Corp. (Symbol: UGI) is lower by about 0.4%. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs. | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.1%, Alcoa Corporation (Symbol: AA) is down about 2.2%, and UGI Corp. (Symbol: UGI) is lower by about 0.4%. For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $73.01 as the 52 week high point — that compares with a last trade of $64.26. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.1%, Alcoa Corporation (Symbol: AA) is down about 2.2%, and UGI Corp. (Symbol: UGI) is lower by about 0.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $552.6 million dollar outflow -- that's a 18.9% decrease week over week (from 45,350,000 to 36,800,000). For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $73.01 as the 52 week high point — that compares with a last trade of $64.26. | Among the largest underlying components of MDYV, in trading today Regal Rexnord Corp (Symbol: RRX) is down about 0.1%, Alcoa Corporation (Symbol: AA) is down about 2.2%, and UGI Corp. (Symbol: UGI) is lower by about 0.4%. Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 400 Mid Cap Value ETF (Symbol: MDYV) where we have detected an approximate $552.6 million dollar outflow -- that's a 18.9% decrease week over week (from 45,350,000 to 36,800,000). For a complete list of holdings, visit the MDYV Holdings page » The chart below shows the one year price performance of MDYV, versus its 200 day moving average: Looking at the chart above, MDYV's low point in its 52 week range is $57.6311 per share, with $73.01 as the 52 week high point — that compares with a last trade of $64.26. |
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594.0 | 2022-12-28 00:00:00 UTC | Noteworthy Wednesday Option Activity: PARA, AA, LEG | AA | https://www.nasdaq.com/articles/noteworthy-wednesday-option-activity%3A-para-aa-leg | Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Paramount Global (Symbol: PARA), where a total volume of 53,067 contracts has been traded thus far today, a contract volume which is representative of approximately 5.3 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 42.6% of PARA's average daily trading volume over the past month, of 12.4 million shares. Particularly high volume was seen for the $30 strike put option expiring January 20, 2023, with 15,619 contracts trading so far today, representing approximately 1.6 million underlying shares of PARA. Below is a chart showing PARA's trailing twelve month trading history, with the $30 strike highlighted in orange:
Alcoa Corporation (Symbol: AA) saw options trading volume of 17,861 contracts, representing approximately 1.8 million underlying shares or approximately 42.4% of AA's average daily trading volume over the past month, of 4.2 million shares. Especially high volume was seen for the $39.50 strike put option expiring December 30, 2022, with 5,668 contracts trading so far today, representing approximately 566,800 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $39.50 strike highlighted in orange:
And Leggett & Platt, Inc. (Symbol: LEG) options are showing a volume of 3,700 contracts thus far today. That number of contracts represents approximately 370,000 underlying shares, working out to a sizeable 42.3% of LEG's average daily trading volume over the past month, of 875,645 shares. Particularly high volume was seen for the $30 strike put option expiring January 20, 2023, with 2,012 contracts trading so far today, representing approximately 201,200 underlying shares of LEG. Below is a chart showing LEG's trailing twelve month trading history, with the $30 strike highlighted in orange:
For the various different available expirations for PARA options, AA options, or LEG options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Especially high volume was seen for the $39.50 strike put option expiring December 30, 2022, with 5,668 contracts trading so far today, representing approximately 566,800 underlying shares of AA. Below is a chart showing PARA's trailing twelve month trading history, with the $30 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 17,861 contracts, representing approximately 1.8 million underlying shares or approximately 42.4% of AA's average daily trading volume over the past month, of 4.2 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $39.50 strike highlighted in orange: And Leggett & Platt, Inc. (Symbol: LEG) options are showing a volume of 3,700 contracts thus far today. | Below is a chart showing PARA's trailing twelve month trading history, with the $30 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 17,861 contracts, representing approximately 1.8 million underlying shares or approximately 42.4% of AA's average daily trading volume over the past month, of 4.2 million shares. Below is a chart showing AA's trailing twelve month trading history, with the $39.50 strike highlighted in orange: And Leggett & Platt, Inc. (Symbol: LEG) options are showing a volume of 3,700 contracts thus far today. Especially high volume was seen for the $39.50 strike put option expiring December 30, 2022, with 5,668 contracts trading so far today, representing approximately 566,800 underlying shares of AA. | Below is a chart showing PARA's trailing twelve month trading history, with the $30 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 17,861 contracts, representing approximately 1.8 million underlying shares or approximately 42.4% of AA's average daily trading volume over the past month, of 4.2 million shares. Especially high volume was seen for the $39.50 strike put option expiring December 30, 2022, with 5,668 contracts trading so far today, representing approximately 566,800 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $39.50 strike highlighted in orange: And Leggett & Platt, Inc. (Symbol: LEG) options are showing a volume of 3,700 contracts thus far today. | Below is a chart showing PARA's trailing twelve month trading history, with the $30 strike highlighted in orange: Alcoa Corporation (Symbol: AA) saw options trading volume of 17,861 contracts, representing approximately 1.8 million underlying shares or approximately 42.4% of AA's average daily trading volume over the past month, of 4.2 million shares. Below is a chart showing LEG's trailing twelve month trading history, with the $30 strike highlighted in orange: For the various different available expirations for PARA options, AA options, or LEG options, visit StockOptionsChannel.com. Especially high volume was seen for the $39.50 strike put option expiring December 30, 2022, with 5,668 contracts trading so far today, representing approximately 566,800 underlying shares of AA. |
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595.0 | 2022-12-27 00:00:00 UTC | Alcoa (AA) Gains As Market Dips: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-gains-as-market-dips%3A-what-you-should-know-7 | In the latest trading session, Alcoa (AA) closed at $44.86, marking a +1.49% move from the previous day. This move outpaced the S&P 500's daily loss of 0.41%. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq lost 6.67%.
Coming into today, shares of the bauxite, alumina and aluminum products company had lost 4.8% in the past month. In that same time, the Industrial Products sector lost 3.13%, while the S&P 500 lost 4.4%.
Investors will be hoping for strength from Alcoa as it approaches its next earnings release. The company is expected to report EPS of -$0.82, down 132.8% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.59 billion, down 22.37% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.58 per share and revenue of $12.38 billion. These totals would mark changes of -32.94% and +1.88%, respectively, from last year.
It is also important to note the 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. 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. Within the past 30 days, our consensus EPS projection has moved 3.37% lower. Alcoa is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Alcoa's current valuation metrics, including its Forward P/E ratio of 9.64. Its industry sports an average Forward P/E of 7.14, so we one might conclude that Alcoa is trading at a premium comparatively.
Investors should also note that AA has a PEG ratio of 0.78 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Metal Products - Distribution was holding an average PEG ratio of 3.11 at yesterday's closing price.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 90, which puts it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the latest trading session, Alcoa (AA) closed at $44.86, marking a +1.49% move from the previous day. Investors should also note that AA has a PEG ratio of 0.78 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. In the latest trading session, Alcoa (AA) closed at $44.86, marking a +1.49% move from the previous day. Investors should also note that AA has a PEG ratio of 0.78 right now. | In the latest trading session, Alcoa (AA) closed at $44.86, marking a +1.49% move from the previous day. Investors should also note that AA has a PEG ratio of 0.78 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | In the latest trading session, Alcoa (AA) closed at $44.86, marking a +1.49% move from the previous day. Investors should also note that AA has a PEG ratio of 0.78 right now. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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596.0 | 2022-12-23 00:00:00 UTC | Alcoa (AA) Is a Trending Stock: Facts to Know Before Betting on It | AA | https://www.nasdaq.com/articles/alcoa-aa-is-a-trending-stock%3A-facts-to-know-before-betting-on-it-0 | Alcoa (AA) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.
Shares of this bauxite, alumina and aluminum products company have returned -9.6% over the past month versus the Zacks S&P 500 composite's -4.3% change. The Zacks Metal Products - Distribution industry, to which Alcoa belongs, has lost 6.6% over this period. Now the key question is: Where could the stock be headed in the near term?
While media releases or rumors about a substantial change in a company's business prospects usually make its stock 'trending' and lead to an immediate price change, there are always some fundamental facts that eventually dominate the buy-and-hold decision-making.
Revisions to Earnings Estimates
Here at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. When earnings estimates for a company go up, the fair value for its stock goes up as well. And when a stock's fair value is higher than its current market price, investors tend to buy the stock, resulting in its price moving upward. Because of this, empirical studies indicate a strong correlation between trends in earnings estimate revisions and short-term stock price movements.
Alcoa is expected to post a loss of $0.82 per share for the current quarter, representing a year-over-year change of -132.8%. Over the last 30 days, the Zacks Consensus Estimate has changed -21.8%.
For the current fiscal year, the consensus earnings estimate of $4.58 points to a change of -32.9% from the prior year. Over the last 30 days, this estimate has changed -3.4%.
For the next fiscal year, the consensus earnings estimate of $2.71 indicates a change of -41% from what Alcoa is expected to report a year ago. Over the past month, the estimate has changed -7.5%.
With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. The size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, has resulted in a Zacks Rank #3 (Hold) for Alcoa.
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue Growth
While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. After all, it's nearly impossible for a company to increase its earnings for an extended period without increasing its revenues. So, it's important to know a company's potential revenue growth.
For Alcoa, the consensus sales estimate for the current quarter of $2.59 billion indicates a year-over-year change of -22.4%. For the current and next fiscal years, $12.38 billion and $11.54 billion estimates indicate +1.9% and -6.8% changes, respectively.
Last Reported Results and Surprise History
Alcoa reported revenues of $2.85 billion in the last reported quarter, representing a year-over-year change of -8.3%. EPS of -$0.33 for the same period compares with $2.05 a year ago.
Compared to the Zacks Consensus Estimate of $2.98 billion, the reported revenues represent a surprise of -4.33%. The EPS surprise was -466.67%.
Over the last four quarters, Alcoa surpassed consensus EPS estimates three times. The company topped consensus revenue estimates two times over this period.
Valuation
No investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an An is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
Alcoa is graded A on this front, indicating that it is trading at a discount to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
Bottom Line
The facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about Alcoa. However, its Zacks Rank #3 does suggest that it may perform in line with the broader market in the near term.
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Alcoa (AA) is one of the stocks most watched by Zacks.com visitors lately. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. Our analysis is essentially based on how sell-side analysts covering the stock are revising their earnings estimates to take the latest business trends into account. | Alcoa (AA) is one of the stocks most watched by Zacks.com visitors lately. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. The chart below shows the evolution of the company's forward 12-month consensus EPS estimate: 12 Month EPS Projected Revenue Growth While earnings growth is arguably the most superior indicator of a company's financial health, nothing happens as such if a business isn't able to grow its revenues. | Alcoa (AA) is one of the stocks most watched by Zacks.com visitors lately. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. With an impressive externally audited track record, our proprietary stock rating tool -- the Zacks Rank -- is a more conclusive indicator of a stock's near-term price performance, as it effectively harnesses the power of earnings estimate revisions. | Alcoa (AA) is one of the stocks most watched by Zacks.com visitors lately. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. When earnings estimates for a company go up, the fair value for its stock goes up as well. |
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597.0 | 2022-12-21 00:00:00 UTC | Alcoa (AA) Outpaces Stock Market Gains: What You Should Know | AA | https://www.nasdaq.com/articles/alcoa-aa-outpaces-stock-market-gains%3A-what-you-should-know-3 | In the latest trading session, Alcoa (AA) closed at $44.87, marking a +1.77% move from the previous day. This move outpaced the S&P 500's daily gain of 1.49%. At the same time, the Dow added 1.6%, and the tech-heavy Nasdaq gained 0.06%.
Prior to today's trading, shares of the bauxite, alumina and aluminum products company had lost 10.68% over the past month. This has lagged the Industrial Products sector's loss of 2.15% and the S&P 500's loss of 3.49% in that time.
Wall Street will be looking for positivity from Alcoa as it approaches its next earnings report date. In that report, analysts expect Alcoa to post earnings of -$0.79 per share. This would mark a year-over-year decline of 131.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.61 billion, down 21.86% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.58 per share and revenue of $12.38 billion, which would represent changes of -32.94% and +1.88%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Alcoa. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 3.24% lower within the past month. Alcoa is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Alcoa is currently trading at a Forward P/E ratio of 9.62. This represents a premium compared to its industry's average Forward P/E of 7.07.
Meanwhile, AA's PEG ratio is currently 0.78. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Metal Products - Distribution stocks are, on average, holding a PEG ratio of 3.16 based on yesterday's closing prices.
The Metal Products - Distribution industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 100, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock And 4 Runners Up
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Alcoa (AA) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | In the latest trading session, Alcoa (AA) closed at $44.87, marking a +1.77% move from the previous day. Meanwhile, AA's PEG ratio is currently 0.78. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | In the latest trading session, Alcoa (AA) closed at $44.87, marking a +1.77% move from the previous day. Meanwhile, AA's PEG ratio is currently 0.78. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | In the latest trading session, Alcoa (AA) closed at $44.87, marking a +1.77% move from the previous day. Meanwhile, AA's PEG ratio is currently 0.78. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. | In the latest trading session, Alcoa (AA) closed at $44.87, marking a +1.77% move from the previous day. Meanwhile, AA's PEG ratio is currently 0.78. Click to get this free report Alcoa (AA) : Free Stock Analysis Report To read this article on Zacks.com click here. |
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598.0 | 2022-12-20 00:00:00 UTC | Noteworthy Tuesday Option Activity: ENVX, XPEL, AA | AA | https://www.nasdaq.com/articles/noteworthy-tuesday-option-activity%3A-envx-xpel-aa | Looking at options trading activity among components of the Russell 3000 index, there is noteworthy activity today in Enovix Corp (Symbol: ENVX), where a total volume of 16,969 contracts has been traded thus far today, a contract volume which is representative of approximately 1.7 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 70.4% of ENVX's average daily trading volume over the past month, of 2.4 million shares. Particularly high volume was seen for the $10 strike call option expiring April 21, 2023, with 3,989 contracts trading so far today, representing approximately 398,900 underlying shares of ENVX. Below is a chart showing ENVX's trailing twelve month trading history, with the $10 strike highlighted in orange:
XPEL Inc (Symbol: XPEL) saw options trading volume of 769 contracts, representing approximately 76,900 underlying shares or approximately 69.5% of XPEL's average daily trading volume over the past month, of 110,655 shares. Especially high volume was seen for the $55 strike put option expiring February 17, 2023, with 725 contracts trading so far today, representing approximately 72,500 underlying shares of XPEL. Below is a chart showing XPEL's trailing twelve month trading history, with the $55 strike highlighted in orange:
And Alcoa Corporation (Symbol: AA) options are showing a volume of 29,225 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 66.3% of AA's average daily trading volume over the past month, of 4.4 million shares. Particularly high volume was seen for the $36 strike put option expiring December 23, 2022, with 6,000 contracts trading so far today, representing approximately 600,000 underlying shares of AA. Below is a chart showing AA's trailing twelve month trading history, with the $36 strike highlighted in orange:
For the various different available expirations for ENVX options, XPEL options, or AA options, visit StockOptionsChannel.com.
Today's Most Active Call & Put Options of the S&P 500 »
Also see:
IBN Options Chain
Funds Holding EDTX
BREZ Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Particularly high volume was seen for the $36 strike put option expiring December 23, 2022, with 6,000 contracts trading so far today, representing approximately 600,000 underlying shares of AA. Below is a chart showing XPEL's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 29,225 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 66.3% of AA's average daily trading volume over the past month, of 4.4 million shares. | Below is a chart showing XPEL's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 29,225 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 66.3% of AA's average daily trading volume over the past month, of 4.4 million shares. Particularly high volume was seen for the $36 strike put option expiring December 23, 2022, with 6,000 contracts trading so far today, representing approximately 600,000 underlying shares of AA. | That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 66.3% of AA's average daily trading volume over the past month, of 4.4 million shares. Below is a chart showing XPEL's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 29,225 contracts thus far today. Particularly high volume was seen for the $36 strike put option expiring December 23, 2022, with 6,000 contracts trading so far today, representing approximately 600,000 underlying shares of AA. | Below is a chart showing AA's trailing twelve month trading history, with the $36 strike highlighted in orange: For the various different available expirations for ENVX options, XPEL options, or AA options, visit StockOptionsChannel.com. Below is a chart showing XPEL's trailing twelve month trading history, with the $55 strike highlighted in orange: And Alcoa Corporation (Symbol: AA) options are showing a volume of 29,225 contracts thus far today. That number of contracts represents approximately 2.9 million underlying shares, working out to a sizeable 66.3% of AA's average daily trading volume over the past month, of 4.4 million shares. |
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599.0 | 2022-12-19 00:00:00 UTC | ANALYSIS-Bumper green aluminium output is good news for carmakers, and climate | AA | https://www.nasdaq.com/articles/analysis-bumper-green-aluminium-output-is-good-news-for-carmakers-and-climate-0 | By Eric Onstad
LONDON, Dec 17 (Reuters) - Aluminium makers are set to boost low-carbon metal output by 10% in 2023 and churn out even more in the years ahead, driving down the cost for carmakers seeking climate-friendly supplies and shrinking the industry's hefty carbon footprint.
Aluminium is the most energy-intensive metal to produce, accounting for about 1.1 billion tonnes of global CO2 emissions per year. Next year's forecast increase in "green aluminium" output would reduce that by 13 million tonnes, or about 1.2%.
That means global surpluses of green aluminium - largely produced using hydro power or recycled material - already weigh on the premium that producers can charge buyers, from automakers and beverage can firms to construction suppliers.
Vella added that the company had seen some increases in premiums recently, without giving details.
GREEN PRODUCTS
Global supplies of low-carbon aluminium have been robust for several years, but dipped in 2022 mainly due to restrictions in southern provinces in top producer China that rely on hydro power.
Output is due to bounce back globally next year, rising 10% to 18.56 million tonnes - accounting for 26% of total aluminium production, said Simon Large, analyst at consultancy CRU.
In Europe, the proportion of low-carbon products to overall supply is much higher than in the rest of the world, because large Scandinavian producers typically use hydro power, and should reach 83% next year, he added.
AUTO INDUSTRY
The increase in more sustainable supplies has coincided with growing efforts by companies to demonstrate their green credentials to consumers, led by the European car sector.
Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen.
Most companies are reluctant to disclose how much low-carbon material they buy and any premiums paid for competitive reasons.
Electric vehicle (EV) maker Polestar PSNY.O has started to use green aluminium as part of a project to create a vehicle with zero emissions from every aspect of production, teaming up with Norway's Norsk Hydro NHY.OL, which uses hydro power to produce much of its metal.
Polestar said it pays slightly more for green aluminium, partly due to the administrative costs of changing suppliers, but did not say how much more.
"The cost per reduced kg of CO2 emissions when shifting to green aluminium is still significantly lower than many other ways of reducing raw material emissions," a company spokesperson told Reuters.
Norsk Hydro also inked a deal to supply Mercedes-BenzMBGn.DE with aluminium that produces less than 3 tonnes of CO2 emissions per tonne of metal.
HEAVY INVESTMENT, LOW PREMIUMS
Aluminium companies have invested heavily in low-carbon technologies. Norsk Hydro said this year it had spent billions making its aluminium more sustainable, while Rio Tinto, Alcoa and the Canadian government invested $228 million in their new ELYSIS process.
But such investments to step up output are dampening the prices that producers can charge for their low-carbon products, especially this year when overall demand has been hit by recession fears, analysts say.
"Low carbon premiums on the spot side have basically disappeared," said Jorge Vazquez at consultancy Harbor Aluminum.
The spot premium for low-carbon billet, a fabricated product often used in construction, has slid to zero from $30 a tonne in January, he said.
Producers, however, are still managing to sell some of their low-carbon output at higher prices under quarterly and annual contracts.
Wire rod commands the highest premiums due to its use in power wiring linked to the green energy transition around the world, he added.
But even the bumper premium for wire rod of $45 a tonne represents less than 2% of the underlying benchmark aluminium price CMAL3.
There are regional variations as well.
"Where we've seen the most willingness to entertain green premiums is Europe, where it is quite accelerated, and we're starting to see the early elements in North America, but Asia is behind," said an industry source who declined to be identified.
In Europe, premiums may get a lift from European Union proposals to impose tariffs on imports of high-carbon goods by 2026, another analyst said.
Consumers are benefitting from the plentiful supplies of not only low-carbon primary aluminium, but recycled material, which uses about 95% less energy to make.
Rising output of both will keep green premiums relatively low in the coming years, said Marcelo Azevedo at the McKinsey consultancy.
Limited movement of supplies between regions, however, could lead to deficits in high-demand areas such as Europe, he added.
One area bucking the weak trend is "ultra-low" carbon aluminium, meaning metal produced with less than 2 tonnes of carbon emissions per tonne of metals, where premiums are strong due to lack of material, Azevedo said.
European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm
Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt
Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG
Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa
(Reporting by Eric Onstad Editing by Helen Popper)
(([email protected]; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: [email protected]))
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. | Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) (([email protected]; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: [email protected])) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. By Eric Onstad LONDON, Dec 17 (Reuters) - Aluminium makers are set to boost low-carbon metal output by 10% in 2023 and churn out even more in the years ahead, driving down the cost for carmakers seeking climate-friendly supplies and shrinking the industry's hefty carbon footprint. | European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) (([email protected]; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: [email protected])) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. Output is due to bounce back globally next year, rising 10% to 18.56 million tonnes - accounting for 26% of total aluminium production, said Simon Large, analyst at consultancy CRU. | European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) (([email protected]; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: [email protected])) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. That means global surpluses of green aluminium - largely produced using hydro power or recycled material - already weigh on the premium that producers can charge buyers, from automakers and beverage can firms to construction suppliers. | Germany's BMW BMWG.DE agreed last year to buy aluminium made with solar power from Emirates Global Aluminium, while Volkswagen's VOWG_p.DE premium brand Audi is piloting metal from the new ELYSIS technology pioneered by Alcoa AA.N and Rio Tinto, which eliminates all CO2 emissions and replaces them with oxygen. European Smelter Cuts Boost Share of Green Aluminiumhttps://tmsnrt.rs/3FBsOdm Premiums for Low Carbon Aluminiumhttps://tmsnrt.rs/3uSjJqt Abundant Supplies of Green Aluminiumhttps://tmsnrt.rs/3FDryGG Low Carbon Aluminium Output Due to Bounce in 2023https://tmsnrt.rs/3BGUbAa (Reporting by Eric Onstad Editing by Helen Popper) (([email protected]; +44 20 7542 7093; Twitter https://twitter.com/reutersEricO; Reuters Messaging: [email protected])) The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Aluminium is the most energy-intensive metal to produce, accounting for about 1.1 billion tonnes of global CO2 emissions per year. |
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