Alcoa Co. (NYSE:AA) Receives $39.09 Consensus Price Target from Analysts

Alcoa Co. (NYSE:AA) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $39.09.

AA has been the subject of a number of analyst reports. UBS Group upgraded shares of Alcoa from a “sell” rating to a “buy” rating and lifted their target price for the company from $32.00 to $38.00 in a research report on Monday, August 12th. StockNews.com upgraded Alcoa from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Citigroup raised their target price on Alcoa from $32.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Wolfe Research upgraded Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research report on Wednesday, September 4th. Finally, Bank of America cut their price objective on Alcoa from $46.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, July 18th.

Alcoa Trading Down 2.8 %

Shares of AA opened at $28.16 on Friday. The stock’s 50-day moving average price is $33.72 and its 200 day moving average price is $35.42. 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 firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of -7.49 and a beta of 2.42. Alcoa has a 12-month low of $23.07 and a 12-month high of $45.48.

Alcoa (NYSE:AA) last released its quarterly earnings data on Wednesday, July 17th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the business posted ($0.35) earnings per share. Alcoa’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts predict that Alcoa will post 0.7 earnings per share for the current year.

Alcoa Announces Dividend

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 $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend was Monday, August 12th. Alcoa’s payout ratio is presently -10.64%.

Hedge Funds Weigh In On Alcoa

A number of large investors have recently modified their holdings of AA. Dimensional Fund Advisors LP increased its holdings in shares of Alcoa by 6.2% in the second quarter. Dimensional Fund Advisors LP now owns 6,665,106 shares of the industrial products company’s stock valued at $265,132,000 after purchasing an additional 390,930 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Alcoa during the second quarter worth $93,061,000. L1 Capital Pty Ltd acquired a new position in shares of Alcoa during the first quarter valued at $72,658,000. Capital Research Global Investors boosted its holdings in Alcoa by 29.8% in the first quarter. Capital Research Global Investors now owns 2,067,742 shares of the industrial products company’s stock valued at $69,869,000 after acquiring an additional 475,000 shares during the last quarter. Finally, ARGA Investment Management LP increased its position in Alcoa by 202.2% in 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 purchasing an additional 997,912 shares during the period.

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.