Alcoa Inc (AA) Releases Earnings Results, Beats Expectations By $0.04 EPS

Alcoa Inc (AA) reported quarterly earnings results on Monday, Apr-11-2016. The company said it had a profit of $0.07 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.03. The company posted revenue of $4947.00 million in the period, compared to analysts expectations of $5153.58 million. The company’s revenue was down -15.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Many Wall Street Analysts have commented on Alcoa Inc. Alcoa Inc was Initiated by Credit Suisse to “Outperform” on Mar 11, 2016. Berenberg Initiated Alcoa Inc on Mar 3, 2016 to “Hold”, Price Target of the shares are set at $9.Alcoa Inc was Downgraded by BofA/Merrill to ” Neutral” on Mar 3, 2016.

Alcoa Inc opened for trading at $9.53 and hit $9.85 on the upside on Monday, eventually ending the session at $9.74, with a gain of 3.95% or 0.37 points. The heightened volatility saw the trading volume jump to 4,63,85,874 shares. Company has a market cap of $12,807 M.

Investors should note that on Mar 29, 2016, Alcoa Inc announced a cash dividend of $0.0300. The company’s management has announced May 4, 2016 as the ex-dividend date and fixed the record date on May 6, 2016. The payable date has been fixed on May 25, 2016.

In a different news, on Feb 11, 2016, John C Plant (director) purchased 30,000 shares at $7.68 per share price. According to the SEC, 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.

Alcoa Inc

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