Alcoa Corp (NYSE:AA) price is hovering higher on Monday, March 25, jumping 2.18% above its previous close.
A look at today’s price movement shows that the recent level at last check reads $31.40. The company’s 5Y monthly beta was ticking 2.45. Taking into account the 52-week price action we note that the stock hit a 52-week high of $42.95 and 52-week low of $23.07. The stock added 20.98% on its value in the past month.
Alcoa Corp, which has a market valuation of $5.76 billion, is expected to release its quarterly earnings report Apr 17, 2024 – Apr 22, 2024. The company stock has a Forward Dividend ratio of 0.40, while the dividend yield is 1.25%. It is understandable that investor optimism is growing ahead of the company’s current quarter results. Analysts tracking AA have forecast the quarterly EPS to shrink by -0.39 per share this quarter, while the same analysts predict the annual EPS to hit $0.35 for the year 2024 and up to $2.26 for 2025. In this case, analysts estimate an annual EPS growth of 115.40% for the year and 545.70% for the next year.
On average, analysts have forecast the company’s revenue for the quarter will hit $2.55 billion, with the likely lows of $2.33 billion and highs of $2.72 billion. The average estimate suggests sales growth for the quarter will likely fall by -6.40% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $10.68 billion for the company’s annual revenue in 2024. Per this projection, the revenue is forecast to grow 1.20% above that which the company brought in 2024.
Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with 3 upward and no downward reviews. On the technical perspective front, indicators give AA a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Buy, while an average of long term indicators are currently assigning the stock as 50% Buy.
The overview shows that AA’s price is at present 10.32% off the SMA20 and 12.15% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 63.42, with weekly volatility standing at 4.52%. The indicator jumps to 4.29% when calculated based on the past 30 days. Alcoa Corp (NYSE:AA)’s beta value is holding at 2.46, while the average true range (ATR) indicator is currently reading 1.31.
An analysis of the Alcoa Corp (NYSE:AA) stock in terms of its daily trading volume indicates that the 3-month average is 6.13 million. However, this figure increases on the past 10-day timeline to an average of 6.71 million.
Current records show that the company has 178.47M in outstanding shares. The insiders’ percentage holdings are 1.20% of outstanding shares while the percentage share held by institutions stands at 84.53%. The stats also highlight that short interest as of Feb 29, 2024, stood at 11.84 million shares, which puts the short ratio at the time at 2.07. From this we can glean that short interest is 6.59% of company’s current outstanding shares. Notably, we see that shares short in February rose slightly given the previous month’s figure stood at 11.74 million. But the -5.63% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.
