Alcoa (NYSE:AA) Issues Earnings Results

Alcoa (NYSE:AA) issued its quarterly earnings results on Wednesday. The industrial products company reported $1.04 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

NYSE:AA traded up $0.17 during trading hours on Wednesday, hitting $38.78. 8,632,820 shares of the stock were exchanged, compared to its average volume of 4,771,510. Alcoa has a 52-week low of $24.86 and a 52-week high of $47.77. The firm’s fifty day moving average price is $40.58 and its 200 day moving average price is $37.69. The company has a current ratio of 1.41, a quick ratio of 0.80 and a debt-to-equity ratio of 0.47. The company has a market cap of $10.02 billion, a P/E ratio of -22.03, a P/E/G ratio of 0.17 and a beta of 2.47.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AA shares. Argus raised Alcoa from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price objective on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Bank of America lifted their price objective on Alcoa to $58.00 and gave the company a “buy” rating in a research note on Thursday, November 28th. Morgan Stanley lifted their price objective on Alcoa from $48.00 to $49.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $41.00 to $50.00 in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Alcoa has a consensus rating of “Moderate Buy” and a consensus price target of $46.36.

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.