Alcoa Co. (NYSE:AA) Given Average Rating of “Hold” by Brokerages

Alcoa Co. (NYSE:AA) has received an average rating of “Hold” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.50.

Several research analysts recently issued reports on the company. HC Wainwright lifted their price objective on Alcoa to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. UBS Group reissued a “neutral” rating and issued a $31.00 price target on shares of Alcoa in a report on Thursday, May 15th. JPMorgan Chase & Co. reduced their price objective on Alcoa from $28.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, April 17th. B. Riley dropped their price objective on Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M Finally, Bank of America reissued an “underperform” rating and issued a $26.00 target price (down previously from $58.00) on shares of Alcoa in a research note on Tuesday, April 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ballentine Partners LLC raised its stake in Alcoa by 3.2% during the fourth quarter. Ballentine Partners LLC now owns 8,973 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 279 shares during the period. Bessemer Group Inc. grew its stake in shares of Alcoa by 77.1% during the 4th quarter. Bessemer Group Inc. now owns 680 shares of the industrial products company’s stock valued at $26,000 after buying an additional 296 shares during the period. Oregon Public Employees Retirement Fund increased its holdings in shares of Alcoa by 0.6% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 52,624 shares of the industrial products company’s stock worth $1,988,000 after buying an additional 300 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Alcoa by 5.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,521 shares of the industrial products company’s stock worth $246,000 after buying an additional 328 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Alcoa by 3.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,469 shares of the industrial products company’s stock valued at $365,000 after acquiring an additional 339 shares during the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

Alcoa Trading Down 2.1%

NYSE:AA opened at $28.79 on Wednesday. Alcoa has a 52-week low of $21.53 and a 52-week high of $47.77. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. The stock has a fifty day simple moving average of $27.66 and a 200-day simple moving average of $34.76. The company has a market capitalization of $7.45 billion, a PE ratio of -179.94, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29.

Alcoa (NYSE:AA) last announced its earnings results on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.42. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. On average, equities research analysts expect that Alcoa will post 4.43 earnings per share for the current fiscal year.

Alcoa Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Tuesday, May 20th. Alcoa’s payout ratio is 12.05%.

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.