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 (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.19), Briefing.com reports. The company 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 company’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) EPS.

Alcoa Trading Down 0.2 %

Shares of NYSE:AA opened at $35.48 on Friday. Alcoa has a 52 week low of $23.07 and a 52 week high of $42.23. 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 company’s fifty day moving average is $30.97 and its 200-day moving average is $29.02.

Alcoa Dividend Announcement

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

Insider Activity

In other news, EVP Tammi A. Jones sold 26,468 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 41,166 shares in the company, valued at approximately $1,267,089.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Investors Weigh In On Alcoa

Several institutional investors and hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its holdings in shares of Alcoa by 310.7% in the first quarter. Belpointe Asset Management LLC now owns 3,528 shares of the industrial products company’s stock valued at $150,000 after buying an additional 2,669 shares during the last quarter. Point72 Europe London LLP bought a new position in shares of Alcoa in the fourth quarter valued at about $137,000. Money Concepts Capital Corp raised its holdings in shares of Alcoa by 949.4% in the fourth quarter. Money Concepts Capital Corp now owns 2,508 shares of the industrial products company’s stock valued at $114,000 after buying an additional 2,269 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Alcoa in the fourth quarter valued at about $109,000. Finally, Stonebridge Capital Advisors LLC bought a new position in shares of Alcoa in the first quarter valued at about $108,000.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of Alcoa from $35.00 to $37.00 and gave the stock a “market perform” rating in a research note on Thursday. Bank of America raised 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 raised their price objective on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of Alcoa from $27.00 to $29.50 and gave the stock an “underweight” rating in a research note on Thursday, January 18th. Finally, StockNews.com upgraded shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Three investment 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.com, the stock currently has an average rating of “Hold” and an average price target of $32.96.

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.