Alcoa (NYSE:AA) Posts Earnings Results, Beats Estimates By $0.34 EPS

Alcoa (NYSE:AA) posted its earnings results on Wednesday. The industrial products company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34, Briefing.com reports. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter last year, the firm posted ($1.14) EPS. The company’s revenue for the quarter was up 11.6% on a year-over-year basis.

Alcoa Stock Performance

Shares of AA opened at $40.35 on Friday. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.55 and a quick ratio of 0.92. The stock has a market capitalization of $7.25 billion, a PE ratio of -10.73 and a beta of 2.42. The business’s fifty day moving average price is $34.74 and its 200 day moving average price is $36.74.

Alcoa Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on AA. JPMorgan Chase & Co. upped their target price on Alcoa from $36.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday. UBS Group raised their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a report on Wednesday, September 4th. Finally, StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Alcoa presently has a consensus rating of “Moderate Buy” and a consensus target price 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.