Alcoa (NYSE:AA) Announces Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Alcoa (NYSE:AA) announced its earnings results on Wednesday. The industrial products company reported $0.57 earnings per share (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 firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the firm posted ($1.14) EPS. Alcoa’s revenue was up 11.6% compared to the same quarter last year.

Alcoa Stock Up 1.9 %

Shares of NYSE:AA opened at $42.09 on Thursday. The firm has a 50 day simple moving average of $34.55 and a 200 day simple moving average of $36.71. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55. The company has a market cap of $7.56 billion, a PE ratio of -11.19 and a beta of 2.42.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 29th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%. Alcoa’s dividend payout ratio is currently -10.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AA shares. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Wednesday, September 4th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 target price on shares of Alcoa in a research note on Tuesday, September 17th. JPMorgan Chase & Co. started coverage on shares of Alcoa in a research report on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 price target on the stock. UBS Group raised their price objective on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, StockNews.com cut shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.36.

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.