FY2016 EPS Estimates for Alcoa Inc. (AA) Reduced by Seaport Global Securities
Alcoa Inc. (NYSE:AA) – Equities researchers at Seaport Global Securities cut their FY2016 earnings per share estimates for Alcoa in a research note issued to investors on Wednesday. Seaport Global Securities analyst J. Sullivan now anticipates that the firm will post earnings per share of $1.18 for the year, down from their previous estimate of $1.31. 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 Q2 2017 earnings at $0.27 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.38 EPS and Q3 2018 earnings at $0.40 EPS.
AA has been the subject of several other research reports. Goldman Sachs Group Inc. set a $30.00 target price on shares of Alcoa and gave the stock a “hold” rating in a report on Monday. Credit Suisse Group AG set a $39.00 target price on shares of Alcoa and gave the stock a “buy” rating in a report on Saturday, October 8th. Bank of America Corp. lowered shares of Alcoa from a “buy” rating to a “neutral” rating in a report on Tuesday. Royal Bank Of Canada lowered their target price on shares of Alcoa to $31.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, Deutsche Bank AG lowered their target price on shares of Alcoa to $33.00 and set a “buy” rating for the company in a report on Wednesday. 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 stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $17.74.
Alcoa (NYSE:AA) opened at 26.75 on Thursday. The company’s 50 day moving average is $29.62 and its 200 day moving average is $29.80. The stock’s market cap is $11.73 billion. Alcoa has a 12 month low of $18.42 and a 12 month high of $34.50.
Alcoa (NYSE:AA) last announced its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $5.21 billion for the quarter. During the same quarter in the prior year, the firm earned $0.07 EPS. Alcoa’s quarterly revenue 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 dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio is presently -63.15%.
In other Alcoa news, Director Ulrich Schmidt acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was acquired 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 in the company, valued at approximately $104,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Hedge funds have recently made changes to their positions in the stock. Rafferty Asset Management LLC acquired a new stake in shares of Alcoa during the first quarter valued at approximately $1,411,000. Cupps Capital Management LLC acquired a new stake in shares of Alcoa during the first quarter valued at approximately $109,000. Canada Pension Plan Investment Board boosted its stake in shares of Alcoa by 17.1% in the first quarter. Canada Pension Plan Investment Board now owns 15,099 shares of the company’s stock valued at $145,000 after buying an additional 2,200 shares during the last quarter. Smith Moore & CO. boosted its stake in shares of Alcoa by 2.4% in the first quarter. Smith Moore & CO. now owns 21,661 shares of the company’s stock valued at $208,000 after buying an additional 500 shares during the last quarter. Finally, Aviva PLC boosted its stake in shares of Alcoa by 0.9% in the first quarter. Aviva PLC now owns 662,675 shares of the company’s stock valued at $6,348,000 after buying an additional 5,886 shares during the last quarter.
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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