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Is Alcoa Corporation (NYSE: AA) A Good Pick For New Investors Now?

Alcoa Corporation (NYSE:AA) shares, rose in value on Friday, May 13, with the stock price up by 7.88% to the previous day’s close as strong demand from buyers drove the stock to $58.88.

Actively observing the price movement in the recent trading, the stock is buoying the session at $54.58, falling within a range of $53.34 and $56.36. The value of beta (5-year monthly) is 2.30 whereas the PE ratio is 14.61 over 12-month period. Referring to stock’s 52-week performance, its high was $98.09, and the low was $31.00. On the whole, AA has fluctuated by -34.45% over the past month.

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With the market capitalization of Alcoa Corporation currently standing at about $10.46 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 13, 2022 – Jul 18, 2022. The company’s Forward Dividend Ratio is 0.40, with its dividend yield at 0.73%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $3.2, which is expected to increase to $4.23 for fiscal year $11.62 and then to about $10.23 by fiscal year 2023. Data indicates that the EPS growth is expected to be 70.10% in 2023, while the next year’s EPS growth is forecast to be -12.00%.

Analysts have estimated the company’s revenue for the quarter at $3.65 billion, with a low estimate of $3.11 billion and a high estimate of $3.8 billion. According to the average forecast, sales growth in current quarter could jump up 38.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $14.34 billion, representing an increase of 18.00% from the revenues reported in the last year’s results.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that AA’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Sell.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of AA currently trading nearly -14.51% and -25.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 36.14, while the 7-day volatility ratio is showing 6.20% which for the 30-day chart, stands at 6.65%. Furthermore, Alcoa Corporation (AA)’s beta value is 2.34, and its average true range (ATR) is 4.63.

Data on historical trading for Alcoa Corporation (NYSE:AA) indicates that the trading volumes over the past 3 months, they’ve averaged 7.86 million. According to company’s latest data on outstanding shares, there are 184.00 million shares outstanding.

Nearly 0.70% of Alcoa Corporation’s shares belong to company insiders and institutional investors own 84.00% of the company’s shares. The stock has fallen by -8.39% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the AA stock heading into the next quarter.

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