Alcoa Inc stock prices forecast 2012

Alcoa Inc stock prices forecast 2012 : Shares of Alcoa edged higher in extended trading, after gaining 2.9 percent ahead of the results on the New York Stock Exchange. Analysts had expected the Pittsburgh-based company to post a loss after it announced last week that it would cut 12 percent of its smelting capacity due to the plunge in prices. But they said revenue came in better than they expected, which was a good sign for aluminum demand.

The first company in the Dow Jones industrial average .DJI to report results, Alcoa said revenue rose 6 percent to $6 billion (3.8 billion pounds) even as the price of aluminum fell 6 percent in the fourth quarter. The average analyst estimate was for revenue of $5.7 billion, according to Thomson Reuters I/B/E/S.

Alcoa posted a loss from continuing operations of $193 million, or 18 cents per share, compared with a profit of $172 million, or 15 cents per share in the same quarter of 2010.

Excluding a restructuring charge of $159 million and other items, Alcoa's loss was 3 cents per share, matching the average Wall Street forecast. It was the company's first loss in the last nine quarters. We expect this momentum to continue into 2012,

Alcoa Inc. earnings estimates have plunged the most in three years as analysts’ expectations mount that the biggest U.S. aluminum producer may even record a fourth-quarter loss.

Net income will tumble 96 percent to 1 cent a share from 21 cents a year earlier, according to the average of 18 analysts’ estimates compiled by Bloomberg. That’s 88 percent less than the average projection from a month ago. Nine of the 12 estimates compiled within the last 28 days are for New York-based Alcoa to post a loss in the fourth quarter. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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