Alcoa Co. (NYSE:AA) Receives Consensus Rating of “Hold” from Brokerages

Alcoa Co. (NYSE:AA) has earned a consensus recommendation of “Hold” from the eleven analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $40.82.

A number of analysts recently issued reports on the company. B. Riley lifted their target price on Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. B. Riley Financial reaffirmed a “neutral” rating and set a $41.00 price target on shares of Alcoa in a research report on Tuesday, September 17th. Morgan Stanley cut their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Wednesday, September 4th. Finally, UBS Group upped their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th.

Alcoa Price Performance

Shares of AA opened at $38.57 on Tuesday. The company has a 50 day moving average of $32.59 and a 200-day moving average of $36.07. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $6.93 billion, a P/E ratio of -10.26 and a beta of 2.42. Alcoa has a twelve month low of $23.07 and a twelve month high of $45.48.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the firm earned ($0.35) earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Alcoa will post 0.56 EPS for the current fiscal year.

Alcoa Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Monday, August 12th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 dividend on an annualized basis and a yield of 1.04%. Alcoa’s dividend payout ratio (DPR) is -10.64%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Alcoa by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock worth $265,132,000 after acquiring an additional 390,930 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in Alcoa in the 2nd quarter valued at $93,061,000. L1 Capital Pty Ltd acquired a new position in Alcoa in the 1st quarter valued at $72,658,000. Capital Research Global Investors increased its position in Alcoa by 29.8% during the 1st quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock worth $69,869,000 after buying an additional 475,000 shares during the period. Finally, ARGA Investment Management LP lifted its holdings in shares of Alcoa by 202.2% during the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company’s stock worth $50,399,000 after buying an additional 997,912 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Company Profile

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 two segments, Alumina and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.