Alcoa Inc. (AA) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Monday, July 11, 2021 6:11 PM

Alcoa Inc. (AA) announced its quarterly results on Monday. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters consensus estimate of $0.33 by $0.01. The company’s quarterly revenue was up 27.0% on a year-over-year basis.

On a related note, analysts at Citigroup (NYSE: C) cut their EPS estimates on shares of Alcoa Inc. in a research note on Thursday. They now have a "hold" rating and a $17.00 price target on the stock. Also, analysts at Deutsche Bank (NYSE: DB) cut their price target on shares of Alcoa Inc. from $22.00 to $20.00 in a research note to investors on Tuesday, July 5th. They now have a "buy" rating on the stock.

Shares of Alcoa Inc. (AA) traded down 2.87% during mid-day trading on Monday, hitting $15.91. Alcoa Inc. (AA) has a 52 week low of $9.81 and a 52 week high of $18.47. The stock's 50-day moving average is $16.87 and its 200-day moving average is $16.05. The company has a market cap of $16.924 billion and a price-to-earnings ratio of 22.85.

Alcoa Inc. (Alcoa) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined. The Company’s products are used worldwide in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, and industrial applications. Alcoa is a global company operating in 31 countries. Based upon the country where the point of sale occurred, the United States (U.S.) and Europe generated 52% and 27%, respectively, of Alcoa’s sales during the year ended December 31, 2009. In addition, Alcoa has investments and operating activities in Australia, Brazil, China, Iceland, Guinea, Russia, and the Kingdom of Saudi Arabia. Alcoa’s operations consist of four worldwide segments: Alumina, Primary Metals, Flat-Rolled Products, and Engineered Products and Solutions. In August 2010, the Company acquired Traco, a maker of windows and doors for the commercial building and construction market.

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