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Alcoa Inc. : Alcoa stock up on unexpected 1st-quarter profit

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04/11/2012 | 05:08pm CEST

Shares in Alcoa Inc rose 7 percent on Wednesday, a day after the aluminum company posted a first-quarter profit instead of a loss Wall Street was expecting.

The late-Tuesday results from Alcoa, a Dow component company, helped lift stocks after five days of losses that had brought down the benchmark Standard & Poor's 500 index more than 4 percent.

Analyst Tony Rizzuto, of Dahlman Rose & Co, raised his full-year 2012 earnings estimate for Alcoa to 50 cents per share from 40 cents per share following Tuesday's results.

Alcoa reported income from continuing operations of $94 million, or 9 cents per share, while analysts had expected a loss of 4 cents per share.

"We are encouraged by these results, but are remaining somewhat cautious with our estimates until we see a sustained follow-through in performance," Rizzuto wrote in a research note.

"If productivity and operational gains can be maintained, we believe the market will begin to look more favorably at the shares," he said of Alcoa stock, which has dropped over 50 percent since reaching a year-high of $18.19 in April last year.

In morning trading on the New York Stock Exchange, Alcoa shares were 7 percent higher at $9.96.

(Reporting By Steve James)

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Financials ($)
Sales 2017 12 438 M
EBIT 2017 1 326 M
Net income 2017 699 M
Debt 2017 5 149 M
Yield 2017 1,09%
P/E ratio 2017 18,87
P/E ratio 2018 17,65
EV / Sales 2017 1,39x
EV / Sales 2018 1,32x
Capitalization 12 087 M
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Technical analysis trends ALCOA INC
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 29,4 $
Spread / Average Target 7,2%
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David Peter Hess Chief Executive Officer & Director
Patricia Fiorello Russo Chairman
Ken Giacobbe Chief Financial Officer & Executive Vice President
Raymond J. Kilmer Chief Technology Officer & Executive VP
Amy E. Alving Independent Director
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