FY2018 Earnings Estimate for Alcoa Inc. (AA) Issued By Gabelli
Alcoa Inc. (NYSE:AA) – Equities researchers at Gabelli decreased their FY2018 earnings per share (EPS) estimates for Alcoa in a report released on Wednesday. Gabelli analyst J. Bergner now anticipates that the brokerage will earn $1.90 per share for the year, down from their previous estimate of $1.95. Gabelli also issued estimates for Alcoa’s FY2019 earnings at $2.20 EPS.
Alcoa (NYSE:AA) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.21. The company had revenue of $5.21 billion for the quarter. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS.
Other research analysts also recently issued research reports about the stock. Credit Suisse Group AG set a $39.00 target price on shares of Alcoa and gave the company a “buy” rating in a research report on Saturday, October 8th. Morgan Stanley reissued an “overweight” rating and set a $12.00 target price (up previously from $11.00) on shares of Alcoa in a research report on Thursday, June 30th. Cowen and Company reissued a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. Argus reissued a “hold” rating on shares of Alcoa in a research report on Friday, July 15th. Finally, Macquarie reissued a “buy” rating on shares of Alcoa in a research report on Tuesday, July 12th. Eleven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $17.74.
Shares of Alcoa (NYSE:AA) traded down 1.16% on Thursday, reaching $26.44. 9,370,015 shares of the company were exchanged. The stock’s market capitalization is $11.59 billion. The firm’s 50 day moving average price is $29.62 and its 200 day moving average price is $29.80. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio is currently -63.15%.
In other news, Director Ulrich Schmidt bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was purchased at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $104,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Several institutional investors have recently bought and sold shares of AA. Citizens Financial Group Inc RI raised its stake in shares of Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock valued at $109,000 after buying an additional 1,401 shares during the last quarter. Cupps Capital Management LLC bought a new stake in shares of Alcoa during the first quarter valued at approximately $109,000. AXA bought a new stake in shares of Alcoa during the first quarter valued at approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Alcoa during the second quarter valued at approximately $121,000. Finally, Savant Capital LLC raised 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 during 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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