Alcoa -6% after earnings miss but analysts mostly remain upbeat [Seeking Alpha]
Alcoa Corporation (AA)
Last alcoa corporation earnings: 4/22 04:10 pm
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Source: Seeking Alpha
Alcoa -6% after earnings miss but analysts mostly remain upbeatAlcoa (NYSE:AA)-6.2% premarket afterQ4 earnings missed estimates, citing a drought in Brazil that hurt bauxite production and higher power prices in Spain that raised expenses.“We havelower than expected global alumina segments due to weather delays and difficulties with shipload,” CEO Roy Harvey said in an earnings conference call, noting the results came in ~$50M lower than the company’s expectations.AA said it does not expect U.S tax reforms to have a material impact on 2018 results, and announced plans to freeze its pension.But J.P. Morgan's Michael Gambardella keeps his rating at Overweight andraises his price target to $68 from $55, believing AA will start looking to return cash to shareholders as long as alumina and aluminum prices hold, and the stock possibly could be added to the S&P 500 in the next few months.Cowen analysts raise their AA price target to $59 from $51 while keeping its rating at Market Perform, bu
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News
- Industrial leader Dag J. Opedal elected to be the new Chair of HydrogenPro ASA [Yahoo! Finance]Yahoo! Finance
- Alcoa raised at Morgan Stanley on cost saving measures [Seeking Alpha]Seeking Alpha
- Alcoa Co. (NYSE: AA) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating. They now have a $36.50 price target on the stock, up previously from $28.50.MarketBeat
- Alcoa Co. (NYSE: AA) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Alcoa Corporation (NYSE:AA) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
AA
Earnings
- 4/17/24 - Miss
AA
Sec Filings
- 4/18/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- 4/17/24 - Form DEFA14A
- AA's page on the SEC website