
Alcoa (AA) Stock Surges in After-Hours Trading on Q2 Earnings Beat
NEW YORK (TheStreet) -- Shares of Alcoa (AA) - Get Report are jumping 4.73% to $10.62 in after-hours trading on Monday after the company's 2016 second quarter earnings and revenue topped analysts' estimates.
After today's market close, the New York-based lightweight metals company reported adjusted earnings of 15 cents per share, exceeding analysts' expectations of 9 cents per share.
Revenue dropped 10% to $5.3 billion year-over-year, but was higher than Wall Street's projections of $5.2 billion.
"As markets ever more rapidly evolve, we have made Alcoa increasingly agile; results continue to improve," CEO Klaus Kleinfeld said in a statement, "In the face of a transforming aerospace market, we moved quickly to bring our costs down while capturing new opportunities."
Alcoa is expected to split into two publicly traded companies. The separation remains on track for later this year.
About 34.09 million of Alcoa's shares changed hands today vs. its average volume of 20.12 million shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strongest point has been its a solid financial position based on a variety of debt and liquidity measures that we have looked at.
But the team also finds weaknesses including poor profit margins, weak operating cash flow and a generally disappointing performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AA










