Alcoa Co. (NYSE:AA) Given Consensus Recommendation of “Hold” by Brokerages

Alcoa Co. (NYSE:AA) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.17.

AA has been the subject of a number of analyst reports. StockNews.com downgraded Alcoa from a “hold” rating to a “sell” rating in a report on Friday, April 19th. Jefferies Financial Group upped their target price on Alcoa from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. UBS Group upped their price objective on shares of Alcoa from $27.00 to $32.00 and gave the stock a “sell” rating in a research report on Friday, April 19th. Bank of America lifted their target price on shares of Alcoa from $31.00 to $32.00 and gave the company a “neutral” rating in a research report on Monday, March 18th. Finally, B. Riley upped their price target on shares of Alcoa from $25.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, April 18th.

Alcoa Trading Up 3.6 %

Shares of NYSE:AA opened at $40.40 on Friday. Alcoa has a 1 year low of $23.07 and a 1 year high of $45.48. The firm has a market capitalization of $7.25 billion, a P/E ratio of -10.74 and a beta of 2.46. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.61 and a quick ratio of 0.93. The business’s 50-day moving average is $39.17 and its 200 day moving average is $33.35.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, April 17th. The industrial products company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.19). Alcoa had a negative return on equity of 8.51% and a negative net margin of 6.41%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the firm earned ($0.23) EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts predict that Alcoa will post 0.2 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Tuesday, May 21st were given a dividend of $0.10 per share. The ex-dividend date was Monday, May 20th. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. Alcoa’s payout ratio is -10.64%.

Institutional Investors Weigh In On Alcoa

A number of large investors have recently added to or reduced their stakes in the business. Kestra Advisory Services LLC lifted its stake in Alcoa by 31.5% in the 3rd quarter. Kestra Advisory Services LLC now owns 12,989 shares of the industrial products company’s stock valued at $377,000 after buying an additional 3,113 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Alcoa by 7.4% during the third quarter. Invesco Ltd. now owns 3,216,008 shares of the industrial products company’s stock valued at $93,457,000 after acquiring an additional 222,884 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of Alcoa by 65.7% during the third quarter. Hsbc Holdings PLC now owns 468,394 shares of the industrial products company’s stock valued at $13,704,000 after acquiring an additional 185,731 shares during the last quarter. Mariner LLC increased its position in Alcoa by 3.6% during the 3rd quarter. Mariner LLC now owns 32,193 shares of the industrial products company’s stock worth $935,000 after purchasing an additional 1,116 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Alcoa by 52.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 546,676 shares of the industrial products company’s stock valued at $15,886,000 after purchasing an additional 188,183 shares during the last quarter.

About Alcoa

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.