Alcoa (NYSE:AA) Releases Earnings Results

Alcoa (NYSE:AA) posted its earnings results on Wednesday. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.34, Briefing.com reports. The business 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%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted ($1.14) EPS.

Alcoa Trading Down 4.1 %

Shares of AA opened at $40.33 on Friday. 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 moving average price of $34.74 and a 200 day moving average price of $36.74. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The firm has a market capitalization of $7.24 billion, a P/E ratio of -10.73 and a beta of 2.42.

Alcoa Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on AA. UBS Group boosted their price objective on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday. B. Riley Financial reiterated a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Finally, Morgan Stanley decreased their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.36.

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.