Alcoa (AA) Set to Announce Quarterly Earnings on Wednesday

Alcoa (NYSE:AA) will post its quarterly earnings results after the market closes on Wednesday, April 17th. Analysts expect Alcoa to post earnings of ($0.23) per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Alcoa (NYSE:AA) last released its quarterly earnings results on Wednesday, January 17th. The industrial products company reported ($0.56) EPS for the quarter, beating the consensus estimate of ($0.85) by $0.29. Alcoa had a negative net margin of 6.17% and a negative return on equity of 6.56%. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. During the same period in the prior year, the business earned ($0.70) earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, analysts expect Alcoa to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Alcoa Stock Down 2.8 %

Shares of NYSE AA opened at $35.20 on Monday. Alcoa has a 1 year low of $23.07 and a 1 year high of $42.23. The firm’s 50 day moving average price is $30.29 and its 200 day moving average price is $28.82. The firm has a market cap of $6.32 billion, a P/E ratio of -9.64, a price-to-earnings-growth ratio of 2.39 and a beta of 2.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.74 and a current ratio of 1.45.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Tuesday, March 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. Alcoa’s dividend payout ratio (DPR) is currently -10.96%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. BMO Capital Markets decreased their target price on shares of Alcoa from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Thursday, January 18th. Morgan Stanley increased their price target 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. StockNews.com raised shares of Alcoa from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Bank of America increased their price target 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. Finally, UBS Group initiated coverage on shares of Alcoa in a research note on Tuesday, January 16th. They set a “sell” rating and a $29.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Alcoa currently has an average rating of “Hold” and an average price target of $30.88.

Insider Activity

In other news, EVP Tammi A. Jones sold 26,468 shares of the firm’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 transaction, the executive vice president now 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 this hyperlink. Insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Alcoa

A number of institutional investors have recently added to or reduced their stakes in the company. FIL Ltd acquired a new position in Alcoa in the 4th quarter worth $3,408,000. Price T Rowe Associates Inc. MD lifted its holdings in Alcoa by 1,290.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,034,031 shares of the industrial products company’s stock worth $35,158,000 after buying an additional 959,655 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Alcoa by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 74,451 shares of the industrial products company’s stock worth $2,531,000 after buying an additional 2,035 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Alcoa in the 4th quarter worth about $281,000. Finally, Employees Retirement System of Texas bought a new stake in shares of Alcoa in the 4th quarter worth about $1,828,000. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.