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

Alcoa (NYSE:AA) issued its quarterly earnings data on Wednesday. The industrial products company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.19), Briefing.com reports. Alcoa had a negative return on equity of 8.30% and a negative net margin of 6.41%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the prior year, the firm earned ($0.23) EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year.

Alcoa Stock Down 0.2 %

AA opened at $35.48 on Friday. The company has a 50 day moving average of $30.97 and a 200 day moving average of $29.02. Alcoa has a 12 month low of $23.07 and a 12 month high of $42.23. The company has a quick ratio of 0.74, a current ratio of 1.45 and a debt-to-equity ratio of 0.30.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, March 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. Alcoa’s payout ratio is currently -10.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AA. BMO Capital Markets boosted their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Jefferies Financial Group boosted their price objective on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Morgan Stanley upped their price target on shares of Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a research report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $32.96.

Insider Buying and Selling

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 shares were sold at an average price of $30.78, for a total value of $814,685.04. Following the completion of the transaction, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On Alcoa

Large investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new position in shares of Alcoa in the second quarter valued at about $27,000. Fairfield Bush & CO. bought a new stake in shares of Alcoa during the 1st quarter valued at about $29,000. Resurgent Financial Advisors LLC bought a new stake in Alcoa during the fourth quarter worth about $32,000. ICA Group Wealth Management LLC bought a new stake in Alcoa during the fourth quarter worth about $36,000. Finally, UniSuper Management Pty Ltd bought a new stake in Alcoa during the second quarter worth about $44,000.

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.