Alcoa Co. (AA) to Issue Quarterly Dividend of $0.10 on November 15th

Alcoa Co. (NYSE:AA) announced a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders of record on Tuesday, October 29th will be paid a dividend of 0.10 per share by the industrial products company on Friday, November 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Tuesday, October 29th.

Alcoa has a dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Alcoa to earn $2.79 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 14.3%.

Alcoa Price Performance

Shares of NYSE:AA opened at $40.33 on Friday. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $7.24 billion, a P/E ratio of -10.73 and a beta of 2.42. The firm’s 50 day moving average is $34.74 and its two-hundred day moving average is $36.74.

Alcoa (NYSE:AA) last issued its quarterly earnings results on Wednesday, October 16th. The industrial products company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.34. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the company posted ($1.14) EPS. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. Analysts anticipate that Alcoa will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AA shares. UBS Group upped their price target on shares of Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. B. Riley Financial restated a “neutral” rating and set a $41.00 target price on shares of Alcoa in a report on Tuesday, September 17th. Bank of America raised Alcoa from a “neutral” rating to a “buy” rating and upped their price target for the company from $43.00 to $52.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price objective on Alcoa from $36.00 to $39.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets boosted their target price on Alcoa from $42.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.36.

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.