Alcoa (NYSE:AA) Posts Quarterly Earnings Results

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.

About Alcoa

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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Earnings History for Alcoa (NYSE:AA)

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