Alcoa (NYSE:AA) Issues Earnings Results, Beats Expectations By $0.33 EPS

Alcoa (NYSE:AA) released its quarterly earnings data on Wednesday. The industrial products company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.33, RTT News reports. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.77 billion. Alcoa had a negative net margin of 4.92% and a positive return on equity of 2.74%. The firm’s revenue was down 24.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.52 earnings per share.

Shares of AA opened at $23.11 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.83 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $4.34 billion, a PE ratio of 6.46 and a beta of 1.34. The business’s 50-day simple moving average is $22.38. Alcoa has a 12-month low of $20.82 and a 12-month high of $45.65.

Institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC raised its position in Alcoa by 143.3% during the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 589 shares during the last quarter. Farmers National Bank acquired a new position in shares of Alcoa in the first quarter valued at approximately $32,000. Penserra Capital Management LLC acquired a new position in shares of Alcoa in the first quarter valued at approximately $107,000. Investors Research Corp acquired a new position in shares of Alcoa in the first quarter valued at approximately $124,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Alcoa in the first quarter valued at approximately $235,000.

A number of analysts recently commented on the stock. TheStreet downgraded shares of Titan Machinery from a “b” rating to a “c+” rating in a report on Thursday, March 28th. Deutsche Bank set a $81.00 price objective on shares of Franco Nevada and gave the stock a “hold” rating in a report on Thursday, July 11th. BMO Capital Markets set a $208.00 price objective on shares of Jazz Pharmaceuticals and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Bank of America boosted their price objective on shares of Stagecoach Group from GBX 160 ($2.09) to GBX 190 ($2.48) and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Finally, Argus downgraded shares of Alcoa from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $35.69.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

Featured Story: Return on Equity (ROE)

Earnings History for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.