Alcoa Inc. (NYSE:AA) – Research analysts at Seaport Global Securities lowered their Q4 2016 earnings per share (EPS) estimates for Alcoa in a research report issued to clients and investors on Wednesday. Seaport Global Securities analyst J. Sullivan now anticipates that the firm will earn $0.20 per share for the quarter, down from their prior forecast of $0.35. Seaport Global Securities currently has a “Neutral” rating and a $11.00 price objective on the stock. Seaport Global Securities also issued estimates for Alcoa’s Q1 2017 earnings at $0.20 EPS, Q3 2017 earnings at $0.31 EPS, Q4 2017 earnings at $0.33 EPS, FY2017 earnings at $1.11 EPS and FY2018 earnings at $1.50 EPS.
Alcoa (NYSE:AA) last issued 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 negative net margin of 0.88% and a positive return on equity of 3.87%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 EPS.
Several other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Alcoa from a “buy” rating to a “hold” rating in a research report on Thursday. Cowen and Company lifted 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. RBC Capital Markets reiterated a “sector perform” rating and set a $31.00 price target (down previously from $33.00) on shares of Alcoa in a research report on Wednesday. Deutsche Bank AG lowered their price target on shares of Alcoa to $33.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Bank of America Corp. reiterated a “buy” rating and set a $33.00 price target on shares of Alcoa in a research report on Wednesday. Eleven 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $17.74.
Shares of Alcoa (NYSE:AA) traded down 1.364% during midday trading on Friday, hitting $26.385. 6,260,473 shares of the company traded hands. The stock’s 50-day moving average is $29.62 and its 200 day moving average is $29.81. The stock’s market capitalization is $11.57 billion. Alcoa has a 12-month low of $18.42 and a 12-month high of $34.50.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio (DPR) is currently -63.15%.
In other news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were purchased at an average cost of $10.40 per share, with a total value of $52,000.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $104,000. The transaction was disclosed in a filing with the SEC, which is available through this link.
Several institutional investors have recently added to or reduced their stakes in the stock. Cupps Capital Management LLC bought a new position in Alcoa during the first quarter valued at approximately $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 valued at $109,000 after buying an additional 1,401 shares in the last quarter. AXA bought a new position in Alcoa during the first quarter valued at approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in Alcoa during the second quarter valued at approximately $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 valued at $122,000 after buying an additional 2,360 shares in the last quarter.
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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