Q4 2016 Earnings Forecast for Alcoa Inc. (AA) Issued By Seaport Global Securities
Alcoa Inc. (NYSE:AA) – Seaport Global Securities reduced their Q4 2016 earnings per share estimates for Alcoa in a research note issued on Wednesday. Seaport Global Securities analyst J. Sullivan now expects that the brokerage will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.35. Seaport Global Securities has a “Neutral” rating and a $11.00 price target on the stock. Seaport Global Securities also issued estimates for Alcoa’s Q1 2017 earnings at $0.20 EPS, Q3 2017 earnings at $0.31 EPS, Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $1.11 EPS and FY2018 earnings at $1.50 EPS.
A number of other equities analysts have also issued reports on the stock. Zacks Investment Research upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Tuesday, October 4th. Morgan Stanley reissued a “buy” rating and set a $12.00 price target on shares of Alcoa in a research note on Tuesday, August 16th. Credit Suisse Group AG reissued a “buy” rating on shares of Alcoa in a research note on Tuesday, July 12th. Berenberg Bank reissued a “hold” rating and set a $9.00 price target on shares of Alcoa in a research note on Thursday, June 30th. Finally, Bank of America Corp. reissued a “buy” rating on shares of Alcoa in a research note on Friday, June 17th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $17.74.
Alcoa (NYSE:AA) opened at 26.44 on Friday. The company has a 50-day moving average of $29.51 and a 200-day moving average of $29.79. The firm’s market cap is $11.59 billion. Alcoa has a 1-year low of $18.42 and a 1-year high of $34.50.
Alcoa (NYSE:AA) last posted its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $5.21 billion during the quarter. During the same period in the prior year, the business posted $0.07 EPS. The company’s revenue for the quarter was down 6.5% on a year-over-year basis.
Hedge funds have recently made changes to their positions in the stock. Orbis Allan Gray Ltd purchased a new stake in shares of Alcoa during the first quarter worth approximately $374,584,000. First Pacific Advisors LLC raised its position 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 valued at $597,509,000 after buying an additional 7,650,380 shares during the last quarter. Slate Path Capital LP bought a new position in shares of Alcoa during the second quarter valued at $65,261,000. Systematic Financial Management LP bought a new position in shares of Alcoa during the second quarter valued at $43,763,000. Finally, Vanguard Group Inc. raised its position 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 valued at $1,098,398,000 after buying an additional 3,387,829 shares during the last quarter.
In other news, Director Ulrich Schmidt purchased 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was purchased at an average price of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $104,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio is currently -63.15%.
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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