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

Alcoa (NYSE:AA - Get Free Report) released 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 company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the company posted ($1.14) EPS. The company's revenue was up 11.6% compared to the same quarter last year.

Alcoa Stock Down 4.1 %

NYSE AA traded down $1.74 on Thursday, reaching $40.33. The company had a trading volume of 11,247,729 shares, compared to its average volume of 5,994,032. The company's fifty day moving average is $34.74 and its 200-day moving average is $36.74. Alcoa has a 1-year low of $23.07 and a 1-year high of $45.48. The firm has a market capitalization of $7.24 billion, a price-to-earnings ratio of -10.73 and a beta of 2.42. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.92 and a current ratio of 1.55.

Alcoa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, October 29th will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.40 annualized dividend and a yield of 0.99%. Alcoa's dividend payout ratio is currently -10.64%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Alcoa from $36.00 to $39.00 and gave the company a "neutral" rating in a research note on Thursday. B. Riley Financial reaffirmed a "neutral" rating and set a $41.00 price objective on shares of Alcoa in a research note on Tuesday, September 17th. B. Riley raised Alcoa from a "neutral" rating to a "buy" rating and increased their target price for the company from $41.00 to $50.00 in a research note on Thursday. BMO Capital Markets boosted their target price on Alcoa from $42.00 to $45.00 and gave the stock a "market perform" rating in a research report on Thursday. Finally, Morgan Stanley cut their price target on shares of Alcoa from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.36.

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.