Alcoa Co. (AA) to Issue Quarterly Dividend of $0.10 on March 20th

Alcoa Co. (NYSE:AA) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Tuesday, March 4th will be given a dividend of 0.10 per share by the industrial products company on Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, March 4th.

Alcoa has raised its dividend payment by an average of 58.7% annually over the last three years. Alcoa has a dividend payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alcoa to earn $3.17 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 12.6%.

Alcoa Price Performance

Shares of AA opened at $33.23 on Friday. Alcoa has a twelve month low of $26.31 and a twelve month high of $47.77. The stock’s 50 day moving average is $36.55 and its two-hundred day moving average is $37.98. The firm has a market capitalization of $8.60 billion, a PE ratio of -207.69, a P/E/G ratio of 0.19 and a beta of 2.43. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts anticipate that Alcoa will post 4.43 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on AA. Bank of America lifted their price target on shares of Alcoa to $58.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Jefferies Financial Group lowered their target price on shares of Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, January 6th. B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets lifted their price objective on Alcoa to $43.00 and gave the company a “hold” rating in a research report on Friday, January 17th. Finally, Morgan Stanley lowered their price target on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.55.

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.