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

Alcoa (NYSE:AA) announced its quarterly earnings data 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 firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.14) earnings per share.

Alcoa Stock Up 1.9 %

Shares of NYSE:AA opened at $42.09 on Thursday. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a 50 day simple moving average of $34.55 and a 200-day simple moving average of $36.71. The company has a market capitalization of $7.56 billion, a PE ratio of -11.19 and a beta of 2.42. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48.

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 issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.95%. Alcoa’s payout ratio is currently -10.64%.

Analysts Set New Price Targets

Several research firms have commented on AA. UBS Group boosted their price target on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com cut Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. JPMorgan Chase & Co. initiated coverage on Alcoa in a research report on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 price target on the stock. 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 research report on Wednesday, September 4th. Finally, B. Riley upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and upped their target price for the stock from $41.00 to $50.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.36.

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.