Alcoa Swings to Q4 Profit, Beating View (AA)

Filed in alcoa, dividend, Gold Investing, o, revenue, shares by on January 11, 2011 0 Comments

Aluminum producer Alcoa Inc. ( AA ) late Monday said it swung to a fourth quarter profit, beating analyst expectations, and forecast a 12% rise in aluminum demand in 2011. The Pittsburgh-based company reported fourth quarter net income of $258 million, or 24 cents per share, compared with a net loss of $277 million, or -28 cents per share, in the year-ago period. Excluding a one-time gain, adjusted profit was 21 cents per share. Revenue rose 4% from last year to $5.65 billion. On average, Wall Street analysts expected a smaller profit of 18 cents per share, albeit on slightly higher revenue of $5.71 billion. Alcoa shares fell 19 cents, or -1.2%, in premarket trading Tuesday. The Bottom Line Shares of Alcoa (AA) have a .73% dividend yield, based on last night’s closing stock price of $16.49. The stock has technical support in the $13 price area. If the shares can firm up, we see overhead resistance around the $17-$18 price levels. Alcoa Inc. ( AA ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Alcoa Swings to Q4 Profit, Beating View (AA)

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