Alcoa (NYSE:AA) Issues Earnings Results, Misses Estimates By $0.19 EPS

Alcoa (NYSE:AA) posted its quarterly earnings data on Wednesday. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19), Briefing.com reports. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.30%. Alcoa’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share.

Alcoa Stock Up 0.2 %

AA opened at $35.53 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30. The firm has a market cap of $6.38 billion, a P/E ratio of -9.45, a PEG ratio of 2.28 and a beta of 2.47. Alcoa has a 52 week low of $23.07 and a 52 week high of $42.23. The business’s fifty day simple moving average is $31.14 and its 200 day simple moving average is $29.06.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend was Monday, March 4th. Alcoa’s payout ratio is currently -10.64%.

Insider Activity at Alcoa

In related news, EVP Tammi A. Jones sold 26,468 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Institutional Trading of Alcoa

A number of hedge funds have recently added to or reduced their stakes in the business. FIL Ltd acquired a new stake in Alcoa in the 4th quarter worth about $3,408,000. Price T Rowe Associates Inc. MD boosted its stake in Alcoa by 1,290.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,034,031 shares of the industrial products company’s stock worth $35,158,000 after buying an additional 959,655 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Alcoa by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 74,451 shares of the industrial products company’s stock worth $2,531,000 after purchasing an additional 2,035 shares during the period. Mercer Global Advisors Inc. ADV purchased a new position in shares of Alcoa in the 4th quarter worth about $281,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Alcoa in the 4th quarter worth about $1,828,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a report on Friday. B. Riley increased their price objective on Alcoa from $25.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday. Jefferies Financial Group upped their price target on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Bank of America upped their price target on Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $32.96.

About Alcoa

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.