Alcoa (NYSE:AA) issued its quarterly earnings data on Wednesday. The industrial products company reported ($1.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.51) by $0.34, RTT News reports. Alcoa had a negative return on equity of 3.16% and a negative net margin of 6.72%. The company had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.25 billion. During the same quarter in the previous year, the business earned ($0.44) earnings per share. The firm’s revenue for the quarter was down 7.9% on a year-over-year basis.
Shares of AA stock opened at $11.94 on Thursday. The business’s fifty day moving average price is $13.24 and its 200 day moving average price is $11.10. Alcoa has a 1-year low of $5.16 and a 1-year high of $23.47. The firm has a market capitalization of $2.34 billion, a PE ratio of -3.46 and a beta of 2.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.42 and a quick ratio of 0.79.
A number of equities research analysts have weighed in on AA shares. BofA Securities upgraded Alcoa from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 8th. Credit Suisse Group upped their price target on Alcoa from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Morgan Stanley upped their price target on Alcoa from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 24th. Bank of America upgraded Alcoa from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.00 to $17.00 in a research note on Tuesday, September 8th. Finally, ValuEngine cut Alcoa from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 1st. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $15.00.
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.
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