Alcoa Inc. (NYSE:AA) – Equities researchers at Gabelli issued their FY2016 earnings estimates for shares of Alcoa in a research note issued on Wednesday. Gabelli analyst J. Bergner anticipates that the brokerage will earn $1.00 per share for the year.
Alcoa (NYSE:AA) last announced its quarterly earnings results 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 positive return on equity of 3.87% and a negative net margin of 0.88%. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 EPS.
Several other equities analysts have also issued reports on AA. Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 price target (up previously from $11.00) on shares of Alcoa in a research note on Thursday, June 30th. Berenberg Bank reaffirmed a “hold” rating and set a $9.00 price target on shares of Alcoa in a research note on Thursday, June 30th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Alcoa in a research note on Thursday, June 30th. Bank of America Corp. reaffirmed a “buy” rating on shares of Alcoa in a research note on Thursday, June 30th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Alcoa in a research note on Tuesday, July 12th. Eleven investment 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 company. Alcoa presently has an average rating of “Buy” and an average price target of $17.74.
Shares of Alcoa (NYSE:AA) opened at 26.44 on Friday. The company’s market cap is $11.59 billion. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50. The company has a 50 day moving average price of $29.51 and a 200 day moving average price of $29.79.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.45%. Alcoa’s payout ratio is presently -63.15%.
In other news, Director Ulrich Schmidt acquired 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The stock was acquired at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $104,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cupps Capital Management LLC bought a new position in Alcoa during the first quarter worth $109,000. Citizens Financial Group Inc RI increased its position in Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock worth $109,000 after buying an additional 1,401 shares in the last quarter. AXA bought a new position in Alcoa during the first quarter worth $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Alcoa during the second quarter worth $121,000. Finally, Savant Capital LLC increased its position in Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock worth $122,000 after buying an additional 2,360 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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