Alcoa (NYSE:AA) Receives Average Rating of “Hold” from Brokerages

Alcoa (NYSE:AA) has received a consensus rating of “Hold” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $48.8333.

A number of research firms recently commented on AA. HSBC lifted their price target on Alcoa from $33.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. Zacks Research upgraded Alcoa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. Citigroup upped their price target on Alcoa from $42.00 to $54.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Weiss Ratings restated a “hold (c)” rating on shares of Alcoa in a research note on Monday, December 29th. Finally, Argus set a $45.00 price objective on shares of Alcoa in a report on Thursday, October 30th.

Hedge Funds Weigh In On Alcoa

A number of large investors have recently bought and sold shares of AA. Mackenzie Financial Corp raised its stake in shares of Alcoa by 121.7% in the 2nd quarter. Mackenzie Financial Corp now owns 1,569,358 shares of the industrial products company’s stock worth $46,312,000 after buying an additional 861,383 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Alcoa by 455.9% during the third quarter. Pacer Advisors Inc. now owns 62,982 shares of the industrial products company’s stock valued at $2,071,000 after buying an additional 51,652 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Alcoa by 5.6% during the second quarter. Public Employees Retirement System of Ohio now owns 80,223 shares of the industrial products company’s stock worth $2,367,000 after acquiring an additional 4,255 shares during the period. Drummond Knight Asset Management Pty Ltd bought a new stake in Alcoa in the second quarter worth about $44,893,000. Finally, Mirabella Financial Services LLP raised its position in Alcoa by 62.5% in the second quarter. Mirabella Financial Services LLP now owns 325,000 shares of the industrial products company’s stock worth $9,591,000 after acquiring an additional 125,000 shares in the last quarter.

Alcoa Trading Down 5.8%

AA opened at $60.14 on Monday. The stock has a market capitalization of $15.57 billion, a PE ratio of 13.89, a P/E/G ratio of 0.22 and a beta of 1.95. The firm’s fifty day moving average price is $48.54 and its 200 day moving average price is $38.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.56 and a quick ratio of 0.91. Alcoa has a 12-month low of $21.53 and a 12-month high of $66.95.

Alcoa (NYSE:AA) last announced its quarterly earnings data on Wednesday, October 22nd. The industrial products company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.13. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $3.03 billion. Alcoa had a net margin of 8.91% and a return on equity of 15.85%. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. As a group, research analysts expect that Alcoa will post 4.43 EPS for the current fiscal year.

Alcoa Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Tuesday, November 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. Alcoa’s payout ratio is 9.24%.

About Alcoa

Alcoa Corporation is a global industry leader in the production and management of aluminum, offering an integrated value chain that spans bauxite mining, alumina refining, primary aluminum smelting and the fabrication of value-added products. The company’s operations are organized into segments that include raw material extraction, chemical processing and the manufacture of metal mill products and engineered solutions.

Alcoa’s product portfolio serves diverse end markets such as aerospace, automotive, packaging, construction, electrical and industrial applications.