Alcoa Inc. (NYSE:AA) Receives $11.27 Consensus Price Target from Analysts
Shares of Alcoa Inc. (NYSE:AA) have received a consensus recommendation of “Buy” from the twenty-one brokerages that are covering the stock. Nine investment analysts have rated the stock with a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $11.27.
Several brokerages have issued reports on AA. Morgan Stanley reissued an “overweight” rating and issued a $12.00 price objective on shares of Alcoa in a research note on Wednesday. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday. Seaport Global Securities initiated coverage on shares of Alcoa in a research note on Friday, September 9th. They set a “neutral” rating and a $11.00 price target on the stock. Argus reaffirmed a “hold” rating on shares of Alcoa in a research note on Friday, July 15th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $15.00 price target on shares of Alcoa in a research note on Friday, July 15th.
Alcoa (NYSE:AA) opened at 31.37 on Wednesday. Alcoa has a 1-year low of $18.42 and a 1-year high of $34.50. The stock’s market capitalization is $41.26 billion. The stock has a 50 day moving average of $29.91 and a 200 day moving average of $29.82.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Monday, July 11th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $5.30 billion for the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The business’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.19 earnings per share. On average, analysts expect that Alcoa will post $0.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is presently -42.86%.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was purchased at an average price of $10.40 per share, with a total value of $52,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $104,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
A number of hedge funds have recently bought and sold shares of AA. Eqis Capital Management Inc. increased its stake in Alcoa by 7.5% in the third quarter. Eqis Capital Management Inc. now owns 28,234 shares of the company’s stock worth $286,000 after buying an additional 1,973 shares during the period. Washington Trust Bank increased its stake in Alcoa by 1.2% in the third quarter. Washington Trust Bank now owns 17,331 shares of the company’s stock worth $176,000 after buying an additional 206 shares during the period. Macquarie Group Ltd. increased its stake in Alcoa by 187.1% in the second quarter. Macquarie Group Ltd. now owns 44,500 shares of the company’s stock worth $413,000 after buying an additional 29,000 shares during the period. Carnick & Kubik Group LLC acquired a new stake in Alcoa during the second quarter worth about $396,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Alcoa during the second quarter worth about $492,000.
Alcoa Company Profile
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
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