Alcoa (NYSE:AA) Releases Q2 Earnings Guidance

Alcoa (NYSE:AA) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.08-0.19 for the period, compared to the consensus earnings per share estimate of $0.07. The company issued revenue guidance of $2.850-2.925 billion, compared to the consensus revenue estimate of $2.83 billion. Alcoa also updated its Q2 2024 guidance to 0.080-0.190 EPS.

Analyst Ratings Changes

AA has been the topic of several recent analyst reports. Citigroup boosted their target price on shares of Alcoa from $32.00 to $50.00 and gave the company a buy rating in a research note on Tuesday, May 21st. BMO Capital Markets boosted their price target on shares of Alcoa from $35.00 to $37.00 and gave the company a market perform rating in a research report on Thursday, April 18th. B. Riley lifted their target price on shares of Alcoa from $25.00 to $31.00 and gave the company a neutral rating in a research note on Thursday, April 18th. Bank of America increased their price target on Alcoa from $40.00 to $46.00 and gave the stock a neutral rating in a research report on Wednesday, June 26th. Finally, StockNews.com downgraded Alcoa from a hold rating to a sell rating in a research report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $38.45.

Alcoa Stock Performance

AA stock opened at $39.00 on Friday. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 0.45. The company has a market cap of $7.00 billion, a P/E ratio of -10.37 and a beta of 2.45. The business’s fifty day moving average is $40.46 and its 200-day moving average is $34.52.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative net margin of 6.41% and a negative return on equity of 8.51%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the business posted ($0.23) EPS. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Alcoa will post 1.97 EPS for the current year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 annualized dividend and a yield of 1.03%. Alcoa’s dividend payout ratio (DPR) is presently -10.64%.

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.