B. Riley Weighs in on Alcoa Corp’s Q2 2019 Earnings (AA)

Alcoa Corp (NYSE:AA) – Stock analysts at B. Riley cut their Q2 2019 EPS estimates for Alcoa in a research note issued to investors on Monday, March 18th. B. Riley analyst L. Pipes now forecasts that the industrial products company will post earnings of $0.44 per share for the quarter, down from their prior forecast of $0.50. B. Riley has a “Buy” rating and a $49.00 price objective on the stock. B. Riley also issued estimates for Alcoa’s Q4 2019 earnings at $0.38 EPS.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, January 16th. The industrial products company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.16. The firm had revenue of $3.34 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Alcoa had a return on equity of 9.21% and a net margin of 1.69%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.04 EPS.

Several other equities analysts have also issued reports on AA. ValuEngine upgraded Alcoa from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research upgraded Alcoa from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 3rd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $57.00 price target on shares of Alcoa in a research note on Friday, January 11th. BMO Capital Markets decreased their price target on Alcoa to $45.00 and set a “positive” rating on the stock in a research note on Thursday, January 17th. Finally, Berenberg Bank set a $42.00 price target on Alcoa and gave the company a “buy” rating in a research note on Monday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.27.

Shares of NYSE AA opened at $28.79 on Tuesday. The firm has a market capitalization of $5.31 billion, a price-to-earnings ratio of 8.04, a P/E/G ratio of 3.78 and a beta of 1.14. The company has a quick ratio of 0.85, a current ratio of 1.42 and a debt-to-equity ratio of 0.24. Alcoa has a fifty-two week low of $25.01 and a fifty-two week high of $62.35.

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Alcoa by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,912,090 shares of the industrial products company’s stock worth $50,823,000 after acquiring an additional 40,522 shares during the last quarter. Norges Bank bought a new stake in Alcoa during the 4th quarter worth $210,497,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new stake in Alcoa during the 4th quarter worth $297,000. Spectrum Financial Alliance Ltd LLC grew its position in Alcoa by 2.7% during the 4th quarter. Spectrum Financial Alliance Ltd LLC now owns 186,084 shares of the industrial products company’s stock worth $4,928,000 after acquiring an additional 4,886 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in Alcoa by 119,897.7% during the 4th quarter. Macquarie Group Ltd. now owns 159,597 shares of the industrial products company’s stock worth $4,242,000 after acquiring an additional 159,464 shares during the last quarter.

About Alcoa

Alcoa Corporation produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Brazil, Canada, and internationally. The company operates through Bauxite, Alumina, and Aluminum segments. It engages in bauxite mining operations; processes bauxite into alumina and sells bauxite to customers who process it into industrial chemical products.

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Earnings History and Estimates for Alcoa (NYSE:AA)

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