Alcoa Inc. (NYSE:AA) – Credit Agricole SA reduced their FY2018 earnings per share estimates for shares of Alcoa in a note issued to investors on Tuesday. Credit Agricole SA analyst D. Lipschitz now anticipates that the brokerage will earn $2.16 per share for the year, down from their prior estimate of $2.37.
Alcoa (NYSE:AA) last issued its quarterly earnings results on Tuesday, October 11th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.21. The firm 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 firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS.
Several other research analysts have also recently weighed in on AA. Morgan Stanley restated an “overweight” rating and issued a $12.00 price objective (up from $11.00) on shares of Alcoa in a research report on Thursday, June 30th. Berenberg Bank restated a “hold” rating and issued a $9.00 price objective on shares of Alcoa in a research report on Thursday, June 30th. Credit Suisse Group AG restated a “buy” rating on shares of Alcoa in a research report on Thursday, June 30th. Bank of America Corp. restated a “buy” rating on shares of Alcoa in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. Eleven investment 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 stock. The stock has an average rating of “Buy” and an average target price of $17.74.
Alcoa (NYSE:AA) opened at 26.44 on Friday. Alcoa has a 12 month low of $18.42 and a 12 month high of $34.50. The stock has a 50 day moving average of $29.51 and a 200-day moving average of $29.79. The firm’s market cap is $11.59 billion.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cupps Capital Management LLC acquired a new stake in shares of Alcoa during the first quarter worth approximately $109,000. Citizens Financial Group Inc RI raised its stake in shares of 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 during the last quarter. AXA acquired a new stake in shares of Alcoa during the first quarter worth approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Alcoa during the second quarter worth approximately $121,000. Finally, Savant Capital LLC raised its stake in shares of 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 during the last quarter.
In other news, Director Ulrich Schmidt bought 5,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were purchased at an average price 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 of the company’s stock, valued at $104,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Wednesday, November 2nd. Alcoa’s dividend payout ratio is -63.15%.
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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