Alcoa (NYSE:AA) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Alcoa (NYSE:AA) released its quarterly earnings results on Wednesday. The industrial products company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13, Zacks reports. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%.

Alcoa Stock Performance

Shares of AA opened at $38.78 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.41 and a quick ratio of 0.80. Alcoa has a 12-month low of $24.86 and a 12-month high of $47.77. The business’s fifty day moving average price is $40.54 and its 200 day moving average price is $37.70. The stock has a market capitalization of $10.02 billion, a PE ratio of -22.03, a price-to-earnings-growth ratio of 0.17 and a beta of 2.47.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Alcoa from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. BMO Capital Markets raised their target price on Alcoa to $43.00 and gave the company a “hold” rating in a research note on Friday, January 17th. Jefferies Financial Group cut their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and raised their price objective for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.36.

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.