Alcoa Inc. (AA) Given Sector Perform Rating at RBC Capital Markets
RBC Capital Markets reiterated their sector perform rating on shares of Alcoa Inc. (NYSE:AA) in a report released on Wednesday. The brokerage currently has a $31.00 price target on the stock, down from their prior price target of $33.00.
Several other analysts also recently issued reports on AA. Credit Suisse Group AG set a $39.00 price target on Alcoa and gave the company a buy rating in a research note on Saturday, October 8th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Alcoa in a report on Tuesday, July 12th. BMO Capital Markets reaffirmed a hold rating and issued a $9.00 price objective on shares of Alcoa in a report on Tuesday, July 12th. Rosenblatt Securities reissued a buy rating and set a $15.00 price target on shares of Alcoa in a report on Wednesday, June 15th. Finally, Macquarie reissued a buy rating on shares of Alcoa in a report on Tuesday, July 12th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $17.74.
Alcoa (NYSE:AA) traded down 1.494% during midday trading on Wednesday, hitting $26.705. The stock had a trading volume of 3,131,800 shares. The firm’s market capitalization is $11.71 billion. Alcoa has a 1-year low of $18.42 and a 1-year high of $34.50. The firm has a 50-day moving average price of $29.72 and a 200-day moving average price of $29.83.
Alcoa (NYSE:AA) last issued its earnings results on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The company earned $5.21 billion during the quarter. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The business’s revenue was down 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Alcoa will post $0.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be issued a $0.03 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. Alcoa’s payout ratio is currently -63.15%.
In other news, Director Ulrich Schmidt acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was bought at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at $104,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of large investors have recently made changes to their positions in the stock. Orbis Allan Gray Ltd bought a new stake in shares of Alcoa during the first quarter worth $374,584,000. First Pacific Advisors LLC raised its stake in shares of Alcoa by 13.5% in the second quarter. First Pacific Advisors LLC now owns 64,456,242 shares of the company’s stock worth $597,509,000 after buying an additional 7,650,380 shares in the last quarter. Slate Path Capital LP bought a new stake in shares of Alcoa during the second quarter worth $65,261,000. Systematic Financial Management LP bought a new stake in shares of Alcoa during the second quarter worth $43,763,000. Finally, Vanguard Group Inc. raised its stake in shares of Alcoa by 2.9% in the second quarter. Vanguard Group Inc. now owns 118,489,630 shares of the company’s stock worth $1,098,398,000 after buying an additional 3,387,829 shares in the last quarter.
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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