Alcoa (NYSE:AA) issued its quarterly earnings data on Tuesday. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.15, MarketWatch Earnings reports. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.37 billion. Alcoa had a negative return on equity of 5.83% and a negative net margin of 5.03%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.31) earnings per share.
Shares of AA traded down $2.83 during mid-day trading on Thursday, hitting $20.01. 22,368,737 shares of the company’s stock were exchanged, compared to its average volume of 5,786,458. Alcoa has a fifty-two week low of $5.16 and a fifty-two week high of $26.20. The firm has a market capitalization of $3.72 billion, a P/E ratio of -7.96 and a beta of 2.51. The business’s 50 day moving average is $23.13 and its two-hundred day moving average is $16.36. The company has a current ratio of 1.76, a quick ratio of 1.15 and a debt-to-equity ratio of 0.51.
In related news, EVP Tammi A. Jones sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $21.19, for a total value of $31,785.00. Following the completion of the sale, the executive vice president now owns 24,853 shares in the company, valued at $526,635.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Several equities analysts have issued reports on AA shares. Morgan Stanley raised their price objective on Alcoa from $14.70 to $22.00 and gave the stock an “equal weight” rating in a report on Thursday, December 10th. The Goldman Sachs Group started coverage on Alcoa in a report on Wednesday, November 11th. They set a “sell” rating on the stock. Zacks Investment Research raised Alcoa from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a report on Friday, January 15th. B. Riley increased their target price on shares of Alcoa from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets increased their target price on shares of Alcoa from $11.00 to $14.00 and gave the stock a “market perform” rating in a research note on Thursday, October 15th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.22.
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.
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