Goldman Sachs Slashes Numbers on Alcoa (AA) Ahead of Q2 Results
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Price: $8.48 -0.7%
Rating Summary:
4 Buy, 6 Hold, 4 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
4 Buy, 6 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
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Alcoa (NYSE: AA) will be kicking-off second quarter earnings season on July 9 and analysts at Goldman Sachs believe things are even worse than they previously thought.
Today, the firm cut 2Q2012 EPS estimate for from $0.17 to $0.07, which compares to the consensus of $0.09. They also cut 3Q12/4Q12/2013/2014 EPS estimates to
$0.10/$0.12/$0.65/$1.10 from $0.21/$0.16/$0.85/$1.30 on lower aluminum
price assumptions.
Goldman now estimate aluminum price of $0.97/$1.05/$1.08 per pound for 2012/2013/2014 from $1.04/$1.10/$1.10 as weak supply-demand fundamentals are expected to persist for longer period.
The firm's price target moves down from $11 to $10.
For an analyst ratings summary and ratings history on Alcoa click here. For more ratings news on Alcoa click here.
Shares of Alcoa closed at $8.92 yesterday, with a 52 week range of $8.21-$16.60.
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Today, the firm cut 2Q2012 EPS estimate for from $0.17 to $0.07, which compares to the consensus of $0.09. They also cut 3Q12/4Q12/2013/2014 EPS estimates to
$0.10/$0.12/$0.65/$1.10 from $0.21/$0.16/$0.85/$1.30 on lower aluminum
price assumptions.
Goldman now estimate aluminum price of $0.97/$1.05/$1.08 per pound for 2012/2013/2014 from $1.04/$1.10/$1.10 as weak supply-demand fundamentals are expected to persist for longer period.
The firm's price target moves down from $11 to $10.
For an analyst ratings summary and ratings history on Alcoa click here. For more ratings news on Alcoa click here.
Shares of Alcoa closed at $8.92 yesterday, with a 52 week range of $8.21-$16.60.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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