Credit Agricole SA Comments on Alcoa Inc.’s FY2016 Earnings (AA)
Alcoa Inc. (NYSE:AA) – Credit Agricole SA cut their FY2016 earnings per share estimates for Alcoa in a report issued on Tuesday. Credit Agricole SA analyst D. Lipschitz now expects that the brokerage will post earnings of $1.20 per share for the year, down from their prior forecast of $1.23. Credit Agricole SA also issued estimates for Alcoa’s FY2017 earnings at $1.72 EPS.
Several other analysts have also recently commented on AA. Credit Suisse Group AG set a $39.00 price objective on shares of Alcoa and gave the company a “buy” rating in a research note on Saturday, October 8th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. BMO Capital Markets reiterated a “hold” rating and issued a $9.00 target price on shares of Alcoa in a research note on Tuesday, July 12th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of Alcoa in a research note on Wednesday, June 15th. Finally, Macquarie reiterated a “buy” rating on shares of Alcoa in a research note on Tuesday, July 12th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued 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 1.25% during trading on Thursday, reaching $26.77. 8,046,089 shares of the company’s stock traded hands. Alcoa has a one year low of $18.42 and a one year high of $34.50. The firm’s market capitalization is $11.74 billion. The company has a 50-day moving average price of $29.71 and a 200 day moving average price of $29.83.
Alcoa (NYSE:AA) last released its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The business earned $5.21 billion during the quarter. During the same quarter last year, the business earned $0.07 EPS. Alcoa’s revenue for the quarter was down 6.5% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be given a $0.03 dividend. The ex-dividend date of this dividend 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 related news, Director Ulrich Schmidt bought 5,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average price of $10.40 per share, with a total value of $52,000.00. Following the completion of the transaction, the director now directly 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 is available through this hyperlink.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc RI boosted its position in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock worth $109,000 after buying an additional 1,401 shares during the last quarter. Cupps Capital Management LLC acquired a new stake in shares of Alcoa during the first quarter valued at about $109,000. AXA acquired a new stake in shares of Alcoa during the first quarter valued at about $115,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Alcoa during the second quarter valued at about $121,000. Finally, Savant Capital LLC boosted its stake in shares of Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 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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