Alcoa Inc. Forecasted to Earn FY2016 Earnings of $1.00 Per Share (AA)
Alcoa Inc. (NYSE:AA) – Gabelli issued their FY2016 earnings estimates for Alcoa in a report released on Wednesday. Gabelli analyst J. Bergner anticipates that the brokerage will post earnings per share of $1.00 for the year.
AA has been the topic of a number of other research reports. Argus restated a “hold” rating on shares of Alcoa in a research note on Friday, July 15th. Morgan Stanley restated a “buy” rating and set a $12.00 target price on shares of Alcoa in a research note on Tuesday, August 16th. Bank of America Corp. cut shares of Alcoa from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 11th. Zacks Investment Research cut shares of Alcoa from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Seaport Global Securities assumed coverage on shares of Alcoa in a research note on Friday, September 9th. They set a “neutral” rating and a $11.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.74.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating the 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 business earned $5.21 billion during the quarter. During the same period last year, the company posted $0.07 earnings per share. Alcoa’s revenue for the quarter was down 6.5% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a yield of 0.45%. Alcoa’s payout ratio is -63.15%.
In other news, Director Ulrich Schmidt purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were bought at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of institutional investors have recently modified their holdings of the stock. Canandaigua National Bank & Trust Co. increased its position in shares of Alcoa by 0.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 26,223 shares of the company’s stock valued at $266,000 after buying an additional 79 shares during the last quarter. Bollard Group LLC increased its position in shares of Alcoa by 0.3% in the second quarter. Bollard Group LLC now owns 37,679 shares of the company’s stock worth $349,000 after buying an additional 120 shares in the last quarter. Hollencrest Securities LLC increased its position in shares of Alcoa by 0.5% in the second quarter. Hollencrest Securities LLC now owns 41,420 shares of the company’s stock worth $384,000 after buying an additional 204 shares in the last quarter. Washington Trust Bank increased its position in shares of Alcoa by 1.2% in the third quarter. Washington Trust Bank now owns 17,331 shares of the company’s stock worth $176,000 after buying an additional 206 shares in the last quarter. Finally, Westport Resources Management Inc. increased its position in shares of Alcoa by 0.6% in the second quarter. Westport Resources Management Inc. now owns 45,540 shares of the company’s stock worth $422,000 after buying an additional 250 shares in 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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