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Could Alcoa’s 1Q17 Earnings Help Revive Investor Optimism?

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Could Alcoa’s 1Q17 Earnings Help Revive Investor Optimism? PART 1 OF 4

Could Alcoa’s 1Q17 Earnings Help Revive Investor Optimism?

Alcoa’s 1Q17 earnings

The 1Q17 earnings season is now in full swing. Alcoa (AA) is expected to release its 1Q17 earnings on April 24, followed by Century Aluminum (CENX) on April 25. Norsk Hydro (NHYDY) is slated to release its 1Q17 financial results on April 28.

Could Alcoa’s 1Q17 Earnings Help Revive Investor Optimism?

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Alcoa (AA) closed at $30.99 on April 13, 2017, losing 3.3% from the previous day’s close. Though Alcoa is trading at a year-to-date rise of 10.3%, it has lost most of its 2017 gains over the last month. More specifically, Alcoa saw a closing high of $38.54 on February 14, and it’s since shed 19.5% of its market capitalization.

Aluminum prices

Alcoa’s 1Q17 earnings come at a time when aluminum prices have pared some of their 2017 gains. Markets now seem concerned over Trump’s reform agenda. Expectations of higher Chinese aluminum production amid capacity restarts are also weighing on aluminum prices (XME). Macro indicators, especially commodity prices, usually drive miners’ (RIO) price action. However, since it’s earnings season, we could see earnings take center stage, especially around the release dates.

Series overview

Meanwhile, volatility in aluminum prices notwithstanding, Alcoa’s price action has disappointed markets in 2017. Alcoa’s 1Q17 results are an opportunity for the company to win over markets’ lost love. In this series, we’ll explore analysts’ expectations for Alcoa’s 1Q17 earnings. We’ll also discuss the key metrics the market should watch for in the company’s 1Q17 earnings call.

Let’s begin by looking at Alcoa’s 1Q17 revenue estimates.

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