Alcoa (NYSE:AA) Issues Quarterly Earnings Results

Alcoa (NYSE:AA) issued its quarterly earnings results on Wednesday. The industrial products company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34, Briefing.com reports. The business had revenue of $2.90 billion during 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 revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted ($1.14) earnings per share.

Alcoa Stock Up 1.9 %

AA stock opened at $42.09 on Thursday. The business’s 50 day simple moving average is $34.55 and its 200 day simple moving average is $36.71. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48. The firm has a market capitalization of $7.56 billion, a PE ratio of -11.19 and a beta of 2.42. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.95%. Alcoa’s dividend payout ratio is -10.64%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. began coverage on Alcoa in a report on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 price objective for the company. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and upped their price target for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. UBS Group upped 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. Finally, Wolfe Research raised shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.36.

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.