Alcoa (NYSE:AA) Issues Earnings Results

Key Points

• $1.40 EPS beat consensus by $0.04, but revenue of $3.19 billion missed estimates of $3.35 billion; the quarter showed a 16.19% ROE and a 9.12% net margin.
• Shares traded up to $70.53; the stock has a market cap of $18.61 billion, a P/E of 15.96, 50-day/200-day SMAs of $63.61/$52.36, and a 52‑week range of $22.68–$75.70.
• Alcoa paid a quarterly dividend of $0.10 (annualized $0.40, yield 0.6%, DPR 9.05%), and several analysts raised ratings/targets (e.g., Morgan Stanley to overweight with $80 PT, B. Riley to $96), though the MarketBeat consensus remains Hold with a $61.73 target.

Alcoa (NYSE:AA - Get Free Report) issued its earnings results on Thursday. The industrial products company reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.04, FiscalAI reports. Alcoa had a return on equity of 16.19% and a net margin of 9.12%.The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion.

Alcoa Price Performance

AA traded up $0.15 during trading on Thursday, reaching $70.53. The company's stock had a trading volume of 5,849,597 shares, compared to its average volume of 7,346,032. The company has a quick ratio of 0.87, a current ratio of 1.44 and a debt-to-equity ratio of 0.40. The firm has a fifty day simple moving average of $63.61 and a two-hundred day simple moving average of $52.36. The company has a market cap of $18.61 billion, a price-to-earnings ratio of 15.96 and a beta of 1.70. Alcoa has a 1 year low of $22.68 and a 1 year high of $75.70.

Alcoa Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Tuesday, March 10th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 10th. Alcoa's dividend payout ratio (DPR) is 9.05%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley raised Alcoa from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $64.00 to $80.00 in a research report on Thursday, April 9th. Wells Fargo & Company set a $68.00 price target on shares of Alcoa in a report on Thursday, March 12th. Weiss Ratings reiterated a "hold (c)" rating on shares of Alcoa in a research report on Monday, December 29th. B. Riley Financial increased their price target on Alcoa from $78.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, April 7th. Finally, Zacks Research upgraded shares of Alcoa from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $61.73.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Quadrant Capital Group LLC raised its position in shares of Alcoa by 1.5% during the 3rd quarter. Quadrant Capital Group LLC now owns 22,497 shares of the industrial products company's stock valued at $740,000 after buying an additional 324 shares during the period. Quarry LP lifted its position in shares of Alcoa by 96.0% during the fourth quarter. Quarry LP now owns 694 shares of the industrial products company's stock worth $37,000 after purchasing an additional 340 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Alcoa by 64.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 910 shares of the industrial products company's stock valued at $50,000 after buying an additional 356 shares during the period. Captrust Financial Advisors grew its stake in Alcoa by 4.0% during the 2nd quarter. Captrust Financial Advisors now owns 11,617 shares of the industrial products company's stock worth $343,000 after purchasing an additional 452 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in shares of Alcoa by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 80,723 shares of the industrial products company's stock worth $2,655,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company's stock.

Alcoa Company Profile

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company's operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa's product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.