Alcoa Q4 Earnings Preview: All Bets On An Aluminum Market Turnaround, Green Energy Transition
Portfolio Pulse from Surbhi Jain
Alcoa Corp (NYSE:AA) is set to release its Q4 earnings on Jan. 17 with expectations of a negative 78 cents EPS and $2.63 billion in revenue. The company, a leader in aluminum production, may benefit from increased aluminum consumption in the green energy sector, potentially leading to a market deficit. Analysts are focusing on Alcoa's ability to navigate demand fluctuations and its alignment with market supply-demand dynamics. The material sector, including Alcoa, is highlighted by Fidelity as one of the top sectors for 2024. However, Alcoa's stock price may not see much upside according to recent analyst ratings, with a consensus price target of $43.16 and current trading at $29.55.
January 16, 2024 | 4:27 pm
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Alcoa Corp is expected to report a negative EPS in Q4, but may benefit from long-term trends in aluminum demand, particularly in green energy. Analysts are cautious, with a consensus price target suggesting limited short-term stock growth.
Alcoa's Q4 earnings are expected to be negative, which could put short-term pressure on the stock. However, the company's long-term prospects in the green energy sector may offset some of the negative sentiment. The consensus price target indicates that analysts are not expecting significant stock movement, suggesting a neutral short-term impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100