Alcoa (NYSE:AA) Releases Quarterly Earnings Results, Misses Expectations By $0.19 EPS

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

Alcoa Stock Performance

Shares of AA stock opened at $35.53 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.45 and a quick ratio of 0.74. Alcoa has a fifty-two week low of $23.07 and a fifty-two week high of $42.23. The stock’s 50-day moving average is $31.14 and its two-hundred day moving average is $29.06. The firm has a market cap of $6.38 billion, a P/E ratio of -9.45, a PEG ratio of 2.28 and a beta of 2.47.

Alcoa Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on AA shares. Morgan Stanley upped their target price on Alcoa from $27.00 to $29.50 and gave the company an “underweight” rating in a report on Thursday, January 18th. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a report on Friday. BMO Capital Markets upped their target price on Alcoa from $35.00 to $37.00 and gave the company a “market perform” rating in a report on Thursday. Jefferies Financial Group upped their target price on Alcoa from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price objective on Alcoa from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $32.96.

Insiders Place Their Bets

In other Alcoa news, EVP Tammi A. Jones sold 26,468 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $30.78, for a total value of $814,685.04. Following the transaction, the executive vice president now directly owns 41,166 shares of the company’s stock, valued at approximately $1,267,089.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Fairfield Bush & CO. acquired a new position in shares of Alcoa during the 1st quarter valued at about $29,000. Neo Ivy Capital Management bought a new stake in Alcoa during the 2nd quarter valued at approximately $27,000. Resurgent Financial Advisors LLC bought a new stake in Alcoa during the 4th quarter valued at approximately $32,000. ICA Group Wealth Management LLC bought a new stake in Alcoa during the 4th quarter valued at approximately $36,000. Finally, FinTrust Capital Advisors LLC boosted its stake in Alcoa by 55.3% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,123 shares of the industrial products company’s stock valued at $51,000 after purchasing an additional 400 shares during the period.

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.