Revenue Update on Alcoa Inc(NYSE:AA)

Alcoa Inc(NYSE:AA) announced the earnings results for Fiscal Year 2016 and Q1. The results came in during After-hours on Apr 11, 2016. Company reported revenue of $4.95B. Analysts estimated a revenue of $5.15B. Earnings per share were $0.07. Analysts had estimated an EPS of $0.02.

In a different note, Credit Suisse said it Initiates Coverage on Alcoa Inc, according to a research note issued on Mar 11, 2016. The shares have been rated ‘Outperform’ by the firm. On Mar 3, 2016, Bank of America said it Downgrades its rating on Alcoa Inc. In the research note, the firm Lowers the price-target to $12.00 per share. The shares have been rated ‘Neutral’ by the firm. Berenberg said it Initiates Coverage on Alcoa Inc, according to a research note issued on Mar 3, 2016. The shares have been rated ‘Hold’ by the firm. On Mar 2, 2016, Cowen & Company said it Maintains its rating on Alcoa Inc. In the research note, the firm Lowers the price-target to $13.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Jan 15, 2016, Macquarie said it Maintains its rating on Alcoa Inc. According to the research note, Macquarie Lowers the price target to $11 per share from a prior target of $13. The shares have been rated ‘Outperform’ by the firm. On Jan 14, 2016, Argus Research said it Downgrades its rating on Alcoa Inc. The shares have been rated ‘Hold’ by the firm.

Alcoa Inc (AA) remained unchanged at the close of Friday session. Even as the volume increased to 2,69,43,477 ,the shares failed to make any impression and ended at 0 points or 0.00% at $10.01. The trading session commenced at $9.98 and the stock hit a high of $10.15 and touched $9.94 at the lower end. Considering that the stock pared all of the losses, it can be said as a positive sign. The share price has a 52-week high of $14.285 and the 52-week low is $6.14. The company has a market cap of $13,162 M and has approximately 1,31,48,45,890 outstanding shares.

Alcoa Inc has also declared a cash dividend of $0.0300 on Mar 29, 2016. The shares will quote ex-dividend on May 4, 2016 and the record date has been fixed on May 6, 2016. The dividend payable date has been fixed on May 25, 2016.

Several Insider Transactions has been reported to the SEC. On Feb 11, 2016, John C Plant (director) purchased 30,000 shares at $7.68 per share price.Also, On Feb 4, 2016, Martin Sorrell (director) purchased 2,667 shares at $8.27 per share price.On Feb 4, 2016, Ratan Tata (director) purchased 2,662 shares at $8.27 per share price, according to the Form-4 filing with the securities and exchange commission.

Alcoa Inc. (Alcoa) is engaged in lightweight metals engineering and manufacturing. The Company operates in four segments: Alumina Primary Metals Global Rolled Products and Engineered Products and Solutions. Its products which include aluminum titanium and nickel are used in aircraft automobiles commercial transportation packaging building and construction oil and gas defense consumer electronics and industrial applications across the world. It also produces and manages primary aluminum fabricated aluminum and alumina combined through its active participation in the aspects of the industry including technology mining refining smelting fabricating and recycling. The Company has investments and operating activities in Australia Brazil China Guinea Iceland Russia and Saudi Arabia among others. It produces three dimensional (3D-printed) titanium specialty metals and plastic parts for aerospace medical and energy applications.

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