Alcoa (NYSE:AA) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Alcoa (NYSE:AA) posted its earnings results on Wednesday. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating 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 Alcoa stock opened at $38.78 on Thursday. The business’s fifty day moving average price is $40.54 and its 200 day moving average price is $37.70. Alcoa has a twelve month low of $24.86 and a twelve month high of $47.77. 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 stock has a market capitalization of $10.02 billion, a P/E ratio of -22.03, a PEG ratio of 0.17 and a beta of 2.47.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com raised Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. UBS Group lifted their price target on shares of Alcoa from $40.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. upped their price objective on shares of Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Wednesday, October 23rd. Finally, B. Riley upgraded Alcoa from a “neutral” rating to a “buy” rating and boosted their price target for the company from $41.00 to $50.00 in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Alcoa presently has a consensus rating of “Moderate Buy” and a consensus target price 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.