Alcoa (NYSE:AA) Announces Earnings Results, Beats Expectations By $0.34 EPS

Alcoa (NYSE:AA) released its quarterly earnings results on Wednesday. The industrial products company reported $0.57 earnings per share for the quarter, topping 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 firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the prior year, the firm posted ($1.14) EPS. The business’s revenue was up 11.6% on a year-over-year basis.

Alcoa Stock Down 4.1 %

AA opened at $40.33 on Friday. The stock has a fifty day moving average of $34.74 and a 200-day moving average of $36.74. 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 fifty-two week low of $23.07 and a fifty-two 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.

Alcoa Announces Dividend

The company 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 $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, October 29th. Alcoa’s dividend payout ratio is -10.64%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AA shares. UBS Group increased their target price on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. Wolfe Research upgraded 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. Morgan Stanley dropped their target price on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. B. Riley Financial restated a “neutral” rating and issued a $41.00 price target on shares of Alcoa in a research note on Tuesday, September 17th. Finally, Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $43.00 to $52.00 in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Alcoa has an average rating of “Moderate Buy” and a consensus target price 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.