Alcoa (NYSE:AA) Posts Quarterly Earnings Results

Alcoa (NYSE:AA) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13, Zacks reports. Alcoa had a negative return on equity of 1.45% and a negative net margin of 2.65%.

Alcoa Price Performance

Shares of NYSE AA traded up $0.17 during trading hours on Wednesday, hitting $38.78. 8,760,064 shares of the stock were exchanged, compared to its average volume of 4,771,510. The company’s fifty day simple moving average is $40.58 and its two-hundred day simple moving average is $37.69. The company has a market cap of $10.02 billion, a PE ratio of -22.03, a price-to-earnings-growth ratio of 0.17 and a beta of 2.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.80 and a current ratio of 1.41. Alcoa has a 1-year low of $24.86 and a 1-year high of $47.77.

Wall Street Analysts Forecast Growth

Several research firms have commented on AA. StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Bank of America increased their price target on shares of Alcoa to $58.00 and gave the company a “buy” rating in a report on Thursday, November 28th. BMO Capital Markets upped their target price on Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. JPMorgan Chase & Co. lifted their price target on Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, UBS Group boosted their price target on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.36.

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.