Alcoa Corp (AA): A Great Stock For Handling Current Market Conditions?

Currently, there are 178.47M common shares owned by the public and among those 177.39M shares have been available to trade.

The company’s stock has a 5-day price change of 1.77% and 3.78% over the past three months. AA shares are trading -8.74% year to date (YTD), with the 12-month market performance down to -23.85% lower. It has a 12-month low price of $23.07 and touched a high of $42.95 over the same period. AA has an average intraday trading volume of 6.19 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 10.19%, 8.18%, and 4.54% respectively.

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Institutional ownership of Alcoa Corp (NYSE: AA) shares accounts for 84.49% of the company’s 178.47M shares outstanding.

It has a market capitalization of $5.57B and a beta (3y monthly) value of 2.44. The earnings-per-share (ttm) stands at -$3.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.88% over the week and 3.90% over the month.

Analysts forecast that Alcoa Corp (AA) will achieve an EPS of -$0.4 for the current quarter, $0.07 for the next quarter and $2.24 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.92 while analysts give the company a high EPS estimate of -$0.22. Comparatively, EPS for the current quarter was -$0.23 a year ago. Earnings per share for the fiscal year are expected to increase by 106.79%, and 1345.29% over the next financial year.

Looking at the support for the AA, a number of firms have released research notes about the stock. UBS stated their Sell rating for the stock in a research note on January 16, 2024, with the firm’s price target at $29. HSBC Securities coverage for the Alcoa Corp (AA) stock in a research note released on December 07, 2023 offered a Hold rating with a price target of $29. JP Morgan on their part issued Neutral rating on July 14, 2023.

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