Alcoa Inc. (AA) reported first quarter non-GAAP EPS of $0.28 in the extended session Wednesday, compared to the consensus estimate of $0.26. Revenues increased 6.7% from last year to $5.82 billion. Analysts expected revenues of $5.94 billion. Net income was $195 million, or $0.14 a share, compared with a loss of $178 million, or ($0.16) per share a year earlier, the New York-based company said in a statement. The stock is currently down $0.38 to $13.29 on 39.58 million shares.
“First quarter results show our transformation is moving at ongoing high speed and is fully on course,” said Klaus Kleinfeld, Alcoa Chairman and Chief Executive Officer.
This marks at least the fifth-straight quarter of better-than-expected profit from the aluminum giant.
On valuation measures, Alcoa Inc. shares, which currently have an average 3-month trading volume of 27.90 million shares, trade at a trailing-12 P/E of 65.10, a forward P/E of 10.85 and a P/E to growth ratio of 1.13. The median Wall Street price target on the name is $18.00 with a high target of $23.00. Currently ticker boasts 12 ‘Buy’ endorsements, compared to 8 ’Holds’ and 1 ‘Sell’.
Profitability-wise, AA has a t-12 profit and operating margin of 1.12% and 9.53%, respectively. The $16.71 billion market cap company reported $1.87 billion in cash vs. $8.76 billion in debt in its most recent quarter.
AA currently prints a one year return of about 7% and a year-to-date loss of around 15%.
The chart below shows where the equity has traded over the last 52 weeks.
Alcoa Inc. produces and manages primary aluminum, fabricated aluminum, and alumina worldwide. The company was founded in 1888 and is based in New York, New York.