Alcoa Inc. (AA) to Post FY2016 Earnings of $1.31 Per Share, Seaport Global Securities Forecasts
Alcoa Inc. (NYSE:AA) – Investment analysts at Seaport Global Securities lowered their FY2016 EPS estimates for shares of Alcoa in a research note issued on Monday. Seaport Global Securities analyst J. Sullivan now expects that the firm will post earnings of $1.31 per share for the year, down from their prior forecast of $1.32. Seaport Global Securities currently has a “Neutral” rating and a $11.00 target price on the stock. Seaport Global Securities also issued estimates for Alcoa’s Q4 2016 earnings at $0.35 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.62 EPS, Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.47 EPS and Q3 2018 earnings at $0.50 EPS.
Several other analysts have also recently commented on the company. Zacks Investment Research upgraded Alcoa from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Tuesday, October 4th. Morgan Stanley restated a “buy” rating and set a $12.00 target price on shares of Alcoa in a report on Tuesday, August 16th. Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a report on Tuesday, July 12th. Berenberg Bank restated a “hold” rating and set a $9.00 target price on shares of Alcoa in a report on Thursday, June 30th. Finally, Bank of America Corp. restated a “buy” rating on shares of Alcoa in a report on Friday, June 17th. Eleven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.74.
Alcoa (NYSE:AA) traded down 1.99% during trading on Tuesday, reaching $26.57. The company’s stock had a trading volume of 2,776,391 shares. The stock’s 50 day moving average is $29.71 and its 200-day moving average is $29.83. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50. The firm’s market cap is $11.65 billion.
Alcoa (NYSE:AA) last released its earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating 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 had revenue of $5.21 billion for the quarter. During the same period last year, the firm earned $0.07 EPS. The company’s revenue was down 6.5% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. Alcoa’s dividend payout ratio is currently -63.15%.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of Alcoa stock in a transaction dated 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 purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and other institutional investors have recently modified their holdings of AA. Legal & General Group Plc increased its position in shares of Alcoa by 3.6% in the first quarter. Legal & General Group Plc now owns 5,817,728 shares of the company’s stock valued at $55,747,000 after buying an additional 200,712 shares in the last quarter. Retirement Systems of Alabama boosted its stake in Alcoa by 41.6% in the second quarter. Retirement Systems of Alabama now owns 1,555,399 shares of the company’s stock valued at $14,419,000 after buying an additional 457,196 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in Alcoa during the first quarter valued at $374,584,000. Geode Capital Management LLC boosted its stake in Alcoa by 2.3% in the first quarter. Geode Capital Management LLC now owns 10,720,212 shares of the company’s stock valued at $102,493,000 after buying an additional 240,383 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Alcoa during the second quarter valued at $180,000.
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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