Alcoa (NYSE:AA) Releases Earnings Results, Misses Estimates By $0.06 EPS

Alcoa (NYSE:AA) announced its quarterly earnings results on Wednesday, April 17th. The industrial products company reported ($0.23) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.06), Bloomberg Earnings reports. Alcoa had a negative net margin of 0.94% and a positive return on equity of 6.71%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same quarter last year, the company posted $0.77 earnings per share. The company’s revenue was down 12.0% compared to the same quarter last year.

AA opened at $24.81 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.42 and a quick ratio of 0.85. Alcoa has a twelve month low of $23.88 and a twelve month high of $54.51. The stock has a market capitalization of $4.60 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 5.78 and a beta of 1.04.

A number of institutional investors have recently made changes to their positions in AA. Parallel Advisors LLC lifted its position in Alcoa by 143.3% during the first quarter. Parallel Advisors LLC now owns 1,000 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 589 shares during the last quarter. Farmers National Bank bought a new stake in shares of Alcoa in the 1st quarter worth approximately $32,000. We Are One Seven LLC bought a new stake in shares of Alcoa in the 4th quarter worth approximately $35,000. Financial Architects Inc lifted its holdings in shares of Alcoa by 2,970.3% in the 4th quarter. Financial Architects Inc now owns 3,101 shares of the industrial products company’s stock worth $82,000 after acquiring an additional 3,000 shares during the last quarter. Finally, IMS Capital Management bought a new stake in shares of Alcoa in the 3rd quarter worth approximately $87,000.

Several equities research analysts have recently weighed in on the stock. Gabelli upgraded shares of Alcoa from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Goldman Sachs Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Monday, January 14th. JPMorgan Chase & Co. decreased their price objective on shares of Alcoa to $52.00 and set an “overweight” rating for the company in a research report on Thursday, January 17th. Jefferies Financial Group set a $36.00 price objective on shares of Alcoa and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, ValuEngine raised shares of Alcoa from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the stock. Alcoa presently has a consensus rating of “Buy” and an average price target of $40.00.

WARNING: This story was first posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.baseballdailydigest.com/news/2019/05/10/alcoa-aa-issues-quarterly-earnings-results-misses-expectations-by-0-10-eps.html.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; and processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

Featured Article: How to Profit and Limit Losses With Stop Orders

Earnings History for Alcoa (NYSE:AA)

Receive News & Ratings for Alcoa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa and related companies with MarketBeat.com's FREE daily email newsletter.