Alcoa (NYSE:AA) Issues Earnings Results

Alcoa (NYSE:AA) issued its earnings results on Wednesday. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19), Briefing.com reports. The company had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.55 billion. Alcoa had a negative return on equity of 8.30% and a negative net margin of 6.41%. The business’s revenue was down 2.7% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share.

Alcoa Stock Down 0.2 %

Shares of AA stock opened at $35.48 on Friday. The stock’s fifty day moving average price is $30.97 and its 200 day moving average price is $29.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.74 and a current ratio of 1.45. Alcoa has a 1-year low of $23.07 and a 1-year high of $42.23.

Alcoa Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.13%. Alcoa’s payout ratio is -10.64%.

Analyst Upgrades and Downgrades

AA has been the topic of several research reports. Jefferies Financial Group raised their price objective on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley raised their price target on Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research note on Thursday, January 18th. BMO Capital Markets upped their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Alcoa from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, January 18th. Finally, UBS Group increased their price objective on shares of Alcoa from $27.00 to $32.00 and gave the company a “sell” rating in a research note on Friday. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.96.

Insider Buying and Selling at Alcoa

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total transaction of $814,685.04. Following the sale, the executive vice president now owns 41,166 shares in the company, valued at $1,267,089.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Alcoa

Large investors have recently bought and sold shares of the stock. Neo Ivy Capital Management purchased a new position in shares of Alcoa in the second quarter worth $27,000. Fairfield Bush & CO. purchased a new position in Alcoa in the 1st quarter worth $29,000. Resurgent Financial Advisors LLC acquired a new stake in Alcoa during the 4th quarter worth about $32,000. ICA Group Wealth Management LLC purchased a new stake in Alcoa during the 4th quarter valued at about $36,000. Finally, UniSuper Management Pty Ltd acquired a new position in shares of Alcoa in the second quarter valued at about $44,000.

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.