Alcoa Corp (NYSE:AA) released its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $0.72 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.05), Bloomberg Earnings reports. The firm had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.95 billion. Alcoa Corp had a net margin of 2.61% and a return on equity of 4.91%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS.
Shares of Alcoa Corp (NYSE:AA) traded down 2.52% during midday trading on Friday, reaching $47.91. 3,870,040 shares of the company’s stock were exchanged. Alcoa Corp has a one year low of $20.71 and a one year high of $50.31. The stock has a market cap of $8.83 billion and a price-to-earnings ratio of 54.51. The firm has a 50 day moving average of $46.62 and a 200-day moving average of $46.62.
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Several research analysts have recently weighed in on the company. Clarkson Capital reissued a “buy” rating on shares of Alcoa Corp in a research report on Thursday, July 20th. Citigroup Inc. reissued a “buy” rating and issued a $55.00 price objective (up from $53.00) on shares of Alcoa Corp in a research report on Friday, October 20th. BMO Capital Markets set a $45.00 target price on Alcoa Corp and gave the company a “buy” rating in a research report on Saturday, August 5th. Berenberg Bank set a $44.00 target price on Alcoa Corp and gave the company a “hold” rating in a research report on Wednesday, October 18th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $60.00 target price on shares of Alcoa Corp in a research report on Thursday, October 19th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $49.88.
About Alcoa Corp
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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