Alcoa (NYSE:AA) Posts Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Alcoa (NYSE:AA) issued its quarterly earnings results on Wednesday. The industrial products company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19), Briefing.com reports. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. Alcoa had a negative return on equity of 6.56% and a negative net margin of 6.17%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.23) EPS.

Alcoa Price Performance

Shares of NYSE AA opened at $35.48 on Friday. Alcoa has a 1-year low of $23.07 and a 1-year high of $42.23. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. The stock has a fifty day moving average price of $30.97 and a 200 day moving average price of $29.02. The company has a market cap of $6.37 billion, a PE ratio of -9.72, a P/E/G ratio of 2.32 and a beta of 2.47.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, March 4th. Alcoa’s dividend payout ratio is presently -10.96%.

Analyst Upgrades and Downgrades

AA has been the topic of several research reports. B. Riley increased their price target on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets upped their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday. Morgan Stanley upped their target price on shares of Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research note on Thursday, January 18th. Bank of America upped their target price on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. Finally, Jefferies Financial Group upped their target price on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.71.

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the sale, the executive vice president now owns 41,166 shares of the company’s stock, valued at $1,267,089.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alcoa

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fairfield Bush & CO. acquired a new position in shares of Alcoa during the 1st quarter worth $29,000. Neo Ivy Capital Management acquired a new position in shares of Alcoa during the 2nd quarter worth $27,000. Resurgent Financial Advisors LLC acquired a new position in shares of Alcoa during the 4th quarter worth $32,000. ICA Group Wealth Management LLC acquired a new position in shares of Alcoa during the 4th quarter worth $36,000. Finally, FinTrust Capital Advisors LLC raised its stake in shares of Alcoa by 55.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,123 shares of the industrial products company’s stock worth $51,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.