Alcoa Corp (NYSE:AA) price on Wednesday, April 17, fall -1.50% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $35.55.
A look at the stock’s price movement, the close in the last trading session was $36.09. Turning to its 52-week performance, $42.23 and $23.07 were the 52-week high and 52-week low respectively. Overall, AA moved 14.57% over the past month.
Alcoa Corp’s market cap currently stands at around $6.38 billion. The company has a Forward Dividend ratio of 0.40, with its dividend yield at 1.13%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be -$0.55, which has seen fiscal year 2024 EPS growth forecast to increase to $0.14 and about $2.05 for fiscal year 2025. Per the data, EPS growth is expected to be 106.20% for 2024 and 1,364.30% for the next financial year.
Analysts have a consensus estimate of $2.56 billion for the company’s revenue for the quarter, with a low and high estimate of $2.33 billion and $2.78 billion respectively. The average forecast suggests down to a -6.20% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2024 to grow to $10.72 billion, representing a 1.60% jump on that reported in the last financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was — upward and — downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that AA is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
AA’s current price about 3.50% and 16.51% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 59.09, while 7-day volatility ratio is 4.92% and 4.23% in the 30-day chart. Further, Alcoa Corp (AA) has a beta value of 2.44, and an average true range (ATR) of 1.55.
If we refocus on Alcoa Corp (NYSE:AA), historical trading data shows that trading volumes averaged 6.35 million over the past 3 months. The company’s latest data on shares outstanding shows there are 178.47 million shares.
The 1.20% of Alcoa Corp’s shares are in the hands of company insiders while institutional holders own 85.26% of the company’s shares. Current price change has pushed the stock 4.56% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the AA stock continues to rise going into the next quarter.
