Alcoa Inc. (AA) Given Average Recommendation of “Hold” by Brokerages
Shares of Alcoa Inc. (NYSE:AA) have been assigned an average recommendation of “Hold” from the twenty-two research firms that are covering the firm. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.80.
Several equities analysts recently commented on AA shares. 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. Zacks Investment Research raised shares of Alcoa from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, October 4th. Deutsche Bank AG dropped their price objective on shares of Alcoa to $33.00 and set a “buy” rating for the company in a research note on Wednesday, October 12th. Bank of America Corp. reissued a “buy” rating and issued a $33.00 price objective on shares of Alcoa in a research note on Wednesday, October 12th. Finally, Morgan Stanley reissued a “buy” rating and issued a $12.00 price objective on shares of Alcoa in a research note on Tuesday, August 16th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AA. Arizona State Retirement System raised its position in Alcoa by 1.8% in the first quarter. Arizona State Retirement System now owns 356,511 shares of the company’s stock worth $3,415,000 after buying an additional 6,300 shares during the period. Westend Capital Management LLC raised its position in Alcoa by 71.7% in the first quarter. Westend Capital Management LLC now owns 111,393 shares of the company’s stock worth $1,067,000 after buying an additional 46,525 shares during the period. Orbis Allan Gray Ltd acquired a new position in Alcoa during the first quarter worth $374,584,000. Envestnet Asset Management Inc. raised its position in Alcoa by 8.8% in the first quarter. Envestnet Asset Management Inc. now owns 162,058 shares of the company’s stock worth $1,553,000 after buying an additional 13,113 shares during the period. Finally, Legal & General Group Plc raised its position in Alcoa by 3.6% in the first quarter. Legal & General Group Plc now owns 5,817,728 shares of the company’s stock worth $55,747,000 after buying an additional 200,712 shares during the period.
Shares of Alcoa (NYSE:AA) opened at 29.30 on Wednesday. Alcoa has a 52-week low of $20.00 and a 52-week high of $29.99. The company has a 50-day moving average of $23.73 and a 200 day moving average of $23.73. The company’s market capitalization is $12.85 billion.
Alcoa (NYSE:AA) last issued 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. The business earned $5.21 billion during the quarter. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. Alcoa’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS. Analysts predict that Alcoa will post $1.15 earnings per share for the current year.
The firm also recently disclosed 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 dividend yield of 0.41%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is -63.15%.
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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