Alcoa Inc. (NYSE:AA) – Equities researchers at Credit Agricole SA cut their FY2016 earnings per share (EPS) estimates for Alcoa in a report issued on Tuesday. Credit Agricole SA analyst D. Lipschitz now forecasts that the firm will post earnings per share of $1.20 for the year, down from their previous forecast of $1.23. Credit Agricole SA also issued estimates for Alcoa’s FY2017 earnings at $1.72 EPS.
Other analysts have also issued reports about the stock. Credit Suisse Group AG set a $39.00 price target on shares of Alcoa and gave the stock a “buy” rating in a research report on Saturday, October 8th. Zacks Investment Research lowered shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Thursday. Cowen and Company upped their price target on shares of Alcoa from $10.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and set a $12.00 price target (up from $11.00) on shares of Alcoa in a research report on Thursday, June 30th. Finally, Argus reaffirmed a “hold” rating on shares of Alcoa in a research report on Friday, July 15th. Eleven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.74.
Shares of Alcoa (NYSE:AA) opened at 26.75 on Thursday. The firm’s market capitalization is $11.73 billion. The stock’s 50 day moving average is $29.62 and its 200 day moving average is $29.80. Alcoa has a 12 month low of $18.42 and a 12 month high of $34.50.
Alcoa (NYSE:AA) last posted its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.21. The company had revenue of $5.21 billion for the quarter. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of AA. Orbis Allan Gray Ltd purchased a new position in Alcoa during the first quarter valued at about $374,584,000. First Pacific Advisors LLC raised its position in 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 purchased a new position in Alcoa during the second quarter valued at about $65,261,000. Systematic Financial Management LP purchased a new position in Alcoa during the second quarter valued at about $43,763,000. Finally, Vanguard Group Inc. raised its position in 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 Alcoa news, Director Ulrich Schmidt acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The stock was acquired at an average price of $10.40 per share, for a total transaction of $52,000.00. Following the acquisition, the director now directly 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 accessible through this link.
The firm 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 $0.03 dividend. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.45%. Alcoa’s dividend payout ratio (DPR) is presently -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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