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Commodities & Metals

Goldman Sachs Raises ALCOA Estimates Ahead of Earnings (AA)

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By Douglas A. McIntyre Published
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ALCOA, Inc. (NYSE: AA) is seeing shares trade higher ahead of its earnings report after today’s close.  Goldman Sachs appears to be the initial reason as it has raised its targets on the Aluminum giant.

For this year, Goldman Sachs raised the estimates from $1.90 to a new $2.95 EPS and for next year it raised targets from $2.90 to $3.70 EPS.  Both estimates are now above consensus.

First Call has consensus earnings before the call at $2.92 EPS for this year (Dec-2008) and $3.49 EPS for fiscal Dec-2009. 

This is also part of a broader aluminum call as Goldman Sachs raised 2008 aluminum targets from $1.12/pound to $1.31/pound, and 2009 aluminum targets from $1.21/pound to $1.33/pound.

First Call has this quarter estimates at $0.48 EPS for after today’s close.  As a reminder, ALCOA has a mixed earnings history that is not usually indicative of the broader economy nor for metals in general.

Jon C. Ogg
April 7, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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