Alcoa (NYSE:AA) Posts Quarterly Earnings Results, Misses Estimates By $0.19 EPS

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

Alcoa Price Performance

AA stock opened at $35.48 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.74 and a current ratio of 1.45. The firm has a 50 day simple moving average of $30.97 and a 200 day simple moving average of $29.02. Alcoa has a 52 week low of $23.07 and a 52 week high of $42.23.

Alcoa Dividend Announcement

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

Insider Buying and Selling at Alcoa

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of Alcoa stock in a transaction that occurred 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 sale, the executive vice president now directly owns 41,166 shares in the company, valued at $1,267,089.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of Alcoa

A number of institutional investors have recently added to or reduced their stakes in AA. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Alcoa by 4,737.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company’s stock valued at $208,174,000 after acquiring an additional 4,483,625 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Alcoa in the first quarter valued at approximately $318,670,000. Norges Bank acquired a new stake in shares of Alcoa in the fourth quarter worth $128,592,000. Voloridge Investment Management LLC lifted its stake in shares of Alcoa by 178.0% in the fourth quarter. Voloridge Investment Management LLC now owns 2,410,104 shares of the industrial products company’s stock worth $81,944,000 after buying an additional 1,543,244 shares during the last quarter. Finally, Morgan Stanley lifted its stake in shares of Alcoa by 24.9% in the third quarter. Morgan Stanley now owns 5,941,667 shares of the industrial products company’s stock worth $172,665,000 after buying an additional 1,185,323 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AA. Bank of America lifted their price objective on shares of Alcoa from $31.00 to $32.00 and gave the stock a “neutral” rating in a research note on Monday, March 18th. B. Riley lifted their target price on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday. BMO Capital Markets lifted their target price on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research report on Thursday. Jefferies Financial Group lifted their target price on shares of Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $32.96.

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.