Alcoa (NYSE:AA) Issues Earnings Results

Alcoa (NYSE:AA) announced its quarterly earnings data on Wednesday. The industrial products company reported $0.57 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 7.29% and a negative net margin of 5.14%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.14) EPS.

Alcoa Price Performance

Alcoa stock opened at $40.33 on Friday. The stock has a 50-day moving average price of $34.74 and a two-hundred 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 company has a market capitalization of $7.24 billion, a PE 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 Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently commented on AA shares. BMO Capital Markets boosted their price target on Alcoa from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday. Bank of America raised shares of Alcoa from a “neutral” rating to a “buy” rating and upped their price target for the stock from $43.00 to $52.00 in a report on Tuesday, October 1st. B. Riley Financial reissued a “neutral” rating and issued a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, September 4th. Finally, B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and lifted their price target for the company from $41.00 to $50.00 in a research note on Thursday. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.