Alcoa (AA, Financial) reported first-quarter revenue of $3.37 billion, falling short of analysts' expectations, which were set at $3.51 billion. Despite this miss, the company noted progress in key operational and capital allocation objectives. A major highlight of the quarter was forming a joint venture to enhance its San Ciprian operations.
In addition, Alcoa worked on optimizing its financial structure by repositioning debt associated with its Australian operations. The company attributed the quarter's performance to a robust aluminum market, which contributed positively amid ongoing economic uncertainties.
Alcoa's management emphasized their commitment to maintaining safety, stability, and operational excellence as they navigate through fluctuating market conditions. The company remains focused on achieving its strategic goals while adapting to the economic landscape.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Alcoa Corp (AA, Financial) is $38.78 with a high estimate of $49.00 and a low estimate of $26.00. The average target implies an upside of 54.70% from the current price of $25.07. More detailed estimate data can be found on the Alcoa Corp (AA) Forecast page.
Based on the consensus recommendation from 12 brokerage firms, Alcoa Corp's (AA, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Alcoa Corp (AA, Financial) in one year is $30.17, suggesting a upside of 20.34% from the current price of $25.07. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Alcoa Corp (AA) Summary page.
