Alcoa (NYSE:AA) posted its quarterly earnings results on Wednesday. The industrial products company reported $1.04 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.19), RTT News reports. The company had revenue of $3.17 billion for the quarter, compared to analysts’ expectations of $3.29 billion. Alcoa had a net margin of 2.61% and a return on equity of 4.90%. The company’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share.
Alcoa (NYSE:AA) traded down $0.52 during trading on Wednesday, reaching $56.24. 3,888,200 shares of the company’s stock were exchanged, compared to its average volume of 3,842,060. The firm has a market cap of $10,540.00 and a price-to-earnings ratio of 38.52. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.90 and a current ratio of 1.38. Alcoa has a 52-week low of $29.55 and a 52-week high of $57.50.
A number of brokerages recently issued reports on AA. BMO Capital Markets reiterated a “buy” rating and issued a $65.00 price objective on shares of Alcoa in a report on Friday, December 22nd. Macquarie reiterated a “buy” rating and issued a $62.00 price objective (up from $55.00) on shares of Alcoa in a report on Tuesday, October 10th. Credit Suisse Group upgraded shares of Alcoa from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $42.00 to $61.00 in a report on Wednesday, December 20th. Morgan Stanley reiterated an “overweight” rating and issued a $47.00 price objective on shares of Alcoa in a report on Wednesday, September 20th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $60.00 price objective on shares of Alcoa in a report on Thursday, October 19th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $53.74.
Alcoa Corporation, formerly Alcoa Upstream Corporation, is engaged in the production of bauxite, alumina and aluminum of various cast and rolled products. The Company is engaged in the production and management of aluminum and alumina combined through its participation in various aspects of the industry, such as technology, mining, refining, smelting, and recycling.
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