Alcoa (NYSE:AA) Releases Earnings Results

Alcoa (NYSE:AA) announced its earnings results on Wednesday. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.34, Briefing.com reports. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. Alcoa’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business earned ($1.14) earnings per share.

Alcoa Stock Performance

Shares of AA stock opened at $40.33 on Friday. The company has a market capitalization of $7.24 billion, a P/E ratio of -10.73 and a beta of 2.42. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The company’s 50 day moving average price is $34.74 and its two-hundred day moving average price is $36.74.

Alcoa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. Alcoa’s payout ratio is -10.64%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AA. B. Riley Financial restated a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research report on Tuesday, September 17th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, September 4th. UBS Group raised their target price on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets boosted their price target on shares of Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.36.

Alcoa Company Profile

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.