Alcoa (AA) to Release Earnings on Wednesday

Alcoa (NYSE:AA) is scheduled to be releasing its earnings data after the market closes on Wednesday, October 16th. Analysts expect Alcoa to post earnings of $0.11 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm posted ($0.35) EPS. Alcoa’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts expect Alcoa to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Alcoa Stock Performance

NYSE AA opened at $37.73 on Wednesday. The firm has a market cap of $6.77 billion, a P/E ratio of -10.03 and a beta of 2.42. Alcoa has a 52-week low of $23.07 and a 52-week high of $45.48. The business’s 50-day moving average price is $33.29 and its 200 day moving average price is $36.41. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46.

Alcoa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Monday, August 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Monday, August 12th. Alcoa’s dividend payout ratio is presently -10.64%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AA. UBS Group increased their target price on shares of Alcoa from $38.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Wolfe Research raised Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. began coverage on Alcoa in a report on Wednesday, September 25th. They issued a “neutral” rating and a $36.00 price target for the company. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $52.00 in a research note on Tuesday, October 1st. Finally, StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.64.

Alcoa Company Profile

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.