Alcoa Inc (AA) reported quarterly earnings results on Monday, Jul-11-2016. The company said it had a profit of $0.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.10. The company posted revenue of $5295.00 million in the period, compared to analysts expectations of $5224.35 million. The company’s revenue was down -10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on Alcoa Inc. Alcoa Inc was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016. Goldman Initiated Alcoa Inc on May 19, 2016 to “Neutral”, Price Target of the shares are set at $9.Rosenblatt Initiated Alcoa Inc on Apr 26, 2016 to “Buy”, Price Target of the shares are set at $15.
Alcoa Inc opened for trading at $9.45 and hit $9.88 on the upside on Friday, eventually ending the session at $9.82, with a gain of 5.14% or 0.48 points. The heightened volatility saw the trading volume jump to 2,59,29,543 shares. Company has a market cap of $12,914 M.
In a different news, on Apr 28, 2016, Ulrich Schmidt (director) purchased 5,000 shares at $10.25 per share price. According to the SEC, on Apr 26, 2016, Olivier M Jarrault (Executive Vice President) sold 12,810 shares at $10.23 per share price. On Apr 20, 2016, Martin Sorrell (director) purchased 2,100 shares at $10.35 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.