A number of other stock analysts have also recently released reports on AA. Goldman Sachs Group cut its price target on Alcoa shares from $104.00 to $90.00 and set a buy rating for the company in a report Thursday, July 14. Credit Suisse Group lowered its price target on Alcoa shares from $82.00 to $63.00 and set a neutral rating on the stock in a Tuesday, July 19 research note. Morgan Stanley reissued an equal weight rating on Alcoa shares in a research note Thursday, June 23. B. Riley lowered his price target on Alcoa shares from $84.00 to $54.00 and set a neutral rating on the stock in a Tuesday, June 28 research note. Finally, Wolfe Research reissued a buy rating and posted a price target of $105.00 on Alcoa shares in a research note on Friday, March 25. Seven investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $79.00.
Performance of Alcoa shares
Shares of AA opened at $45.80 on Thursday. The company has a 50-day simple moving average of $52.41 and a 200-day simple moving average of $66.24. The company has a quick ratio of 0.90, a current ratio of 1.81 and a debt ratio of 0.24. The company has a market capitalization of $8.45 billion, a PE ratio of 9.00, a P/E/G ratio of 0.79 and a beta of 2.39. Alcoa has a 52-week low of $36.49 and a 52-week high of $98.09.
Alcoa (NYSE: AA – Get a rating) last announced its quarterly results on Wednesday, July 20. The industrial products company reported earnings per share (EPS) of $2.67 for the quarter, missing analyst consensus estimates of $3.71 per ($1.04). The company posted revenue of $3.64 billion in the quarter, versus $3.48 billion expected by analysts. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The company’s revenue for the quarter increased by 28.6% compared to the same quarter last year. In the same quarter of the previous year, the company achieved EPS of $1.49. Equity research analysts expect Alcoa to post earnings per share of 7.27 for the current fiscal year.
Alcoa dividend announcement
The company also recently declared a quarterly dividend, which was paid on Friday, June 3. Shareholders of record on Tuesday, May 17 received a dividend of $0.10 per share. The ex-dividend date was Monday, May 16. This represents an annualized dividend of $0.40 and a dividend yield of 0.87%. Alcoa’s dividend payout ratio is currently 7.86%.
Institutional investors weigh in on Alcoa
Several hedge funds have recently changed their holdings to AA. Hanseatic Management Services Inc. acquired a new equity stake in Alcoa in the first quarter worth approximately $25,000. Fairfield Bush & CO. acquired a new equity stake in Alcoa in the first quarter worth approximately $29,000. CWM LLC acquired a new equity stake in Alcoa in the fourth quarter worth approximately $30,000. Retirement Group LLC increased its position in Alcoa shares by 100.0% in the fourth quarter. Retirement Group LLC now owns 500 shares of the industrial products company worth $30,000 after acquiring an additional 250 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new equity stake in Alcoa in the first quarter worth approximately $45,000.
Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada and internationally. The Company operates through three segments: bauxite, alumina and aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemicals, as well as aluminum smelters and casting companies.
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