Alcoa Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | July 17, 2024 10:16am

Alcoa Corporation (NYSE:AA) will release its second quarter financial results, after the closing bell on Wednesday, July 17.

Analysts expect the Pittsburgh, Pennsylvania-based company to report quarterly earnings at 6 cents per share, versus a year-ago loss of 35 cents per share in the year-ago period. Alcoa is expected to post revenue of $2.84 billion, compared to $2.69 billion a year earlier, according to data from Benzinga Pro.

On Tuesday, Alcoa announced stockholder approval related to proposed acquisition of Alumina Limited.

Alcoa shares fell 1.6% to close at $38.66 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Morgan Stanley analyst Carlos De Alba upgraded the stock from Equal-Weight to Overweight and raised the price target from $36.5 to $50 on June 21. This analyst has an accuracy rate of 75%.
• Citigroup analyst Alexander Hacking maintained a Buy rating and boosted the price target from $32 to $50 on May 21. This analyst has an accuracy rate of 68%.
• UBS analyst Curt Woodworth maintained a Sell rating and increased the price target from $27 to $32 on April 19. This analyst has an accuracy rate of 63%.
• B. Riley Securities analyst Lucas Pipes maintained a Neutral rating and boosted the price target from $25 to $31 on April 18. This analyst has an accuracy rate of 69%.

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