Alcoa (NYSE:AA) Releases Earnings Results, Beats Estimates By $0.34 EPS

by · The Cerbat Gem

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

Alcoa Price Performance

Alcoa stock opened at $40.33 on Friday. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of -10.73 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 has a 12 month low of $23.07 and a 12 month high of $45.48. The stock’s 50 day moving average is $34.74 and its 200-day moving average is $36.74.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.99%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

Wall Street Analyst Weigh In

AA has been the topic of a number of research reports. Morgan Stanley cut their price objective on shares of Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $41.00 to $50.00 in a research note on Thursday. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Wednesday, September 4th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.36.

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About Alcoa

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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.

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