Alcoa (NYSE:AA) Given Consensus Rating of “Hold” by Brokerages

Alcoa (NYSE:AA) has been assigned an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $68.50.

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Alcoa from $68.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Argus set a $73.00 price objective on shares of Alcoa in a research note on Monday, April 27th. Wells Fargo & Company set a $68.00 price objective on shares of Alcoa in a research note on Thursday, March 12th. B. Riley Financial increased their price objective on shares of Alcoa from $78.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 7th. Finally, UBS Group upgraded shares of Alcoa from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $80.00 in a research note on Friday, May 22nd.

Institutional Trading of Alcoa

A number of hedge funds have recently added to or reduced their stakes in AA. Basepoint Wealth LLC purchased a new stake in Alcoa during the fourth quarter worth $25,000. Advisory Services Network LLC purchased a new stake in Alcoa during the third quarter worth $27,000. Raleigh Capital Management Inc. boosted its holdings in Alcoa by 52,500.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the industrial products company’s stock worth $28,000 after buying an additional 525 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Alcoa by 74.1% during the fourth quarter. CoreCap Advisors LLC now owns 557 shares of the industrial products company’s stock worth $30,000 after buying an additional 237 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Alcoa by 5,281.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 592 shares of the industrial products company’s stock worth $31,000 after buying an additional 581 shares in the last quarter.

Alcoa Trading Down 5.0%

Shares of Alcoa stock opened at $52.32 on Thursday. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.36. Alcoa has a 12-month low of $27.72 and a 12-month high of $84.38. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 13.25 and a beta of 1.56. The firm’s 50 day simple moving average is $67.33 and its two-hundred day simple moving average is $62.46.

Alcoa (NYSE:AA) last released its quarterly earnings data on Thursday, April 16th. The industrial products company reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.20). The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.35 billion. Alcoa had a return on equity of 12.57% and a net margin of 8.27%.The firm’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.15 EPS. Analysts predict that Alcoa will post 8.48 EPS for the current year.

Alcoa Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Investors of record on Tuesday, May 19th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $0.40 dividend on an annualized basis and a yield of 0.8%. Alcoa’s dividend payout ratio is 10.13%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.