Alcoa Inc. (AA) Given New $31.00 Price Target at Royal Bank Of Canada
Alcoa Inc. (NYSE:AA) had its price objective lowered by Royal Bank Of Canada to $31.00 in a research report released on Wednesday morning. Royal Bank Of Canada currently has a sector perform rating on the stock.
Several other equities analysts also recently commented on AA. Credit Suisse Group AG set a $39.00 price objective on Alcoa and gave the company a buy rating in a research report on Saturday, October 8th. JPMorgan Chase & Co. reiterated a hold rating on shares of Alcoa in a research report on Tuesday, July 12th. BMO Capital Markets reiterated a hold rating and issued a $9.00 target price on shares of Alcoa in a research report on Tuesday, July 12th. Rosenblatt Securities reiterated a buy rating and issued a $15.00 target price on shares of Alcoa in a research report on Wednesday, June 15th. Finally, Macquarie reiterated a buy rating on shares of Alcoa in a research report on Tuesday, July 12th. Eleven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $17.74.
Alcoa (NYSE:AA) traded down 2.1280% during midday trading on Wednesday, reaching $26.5331. The company’s stock had a trading volume of 2,657,923 shares. The firm’s market cap is $11.63 billion. The company’s 50-day moving average is $29.71 and its 200 day moving average is $29.83. Alcoa has a 12-month low of $18.42 and a 12-month high of $34.50.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.87% and a negative net margin of 0.88%. The business had revenue of $5.21 billion for the quarter. During the same quarter in the previous year, the firm earned $0.07 earnings per share. Alcoa’s revenue was down 6.5% on a year-over-year basis. Equities analysts forecast that Alcoa will post $0.44 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. Alcoa’s dividend payout ratio is presently -63.15%.
In other Alcoa news, Director Ulrich Schmidt acquired 5,000 shares of the firm’s stock in a transaction dated Wednesday, July 20th. The stock was purchased at an average price of $10.40 per share, for a total transaction of $52,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $104,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Several hedge funds have recently modified their holdings of the stock. Canandaigua National Bank & Trust Co. raised its stake in shares of Alcoa by 0.3% in the third quarter. Canandaigua National Bank & Trust Co. now owns 26,223 shares of the company’s stock valued at $266,000 after buying an additional 79 shares in the last quarter. Bollard Group LLC raised its stake in shares of Alcoa by 0.3% in the second quarter. Bollard Group LLC now owns 37,679 shares of the company’s stock valued at $349,000 after buying an additional 120 shares in the last quarter. Hollencrest Securities LLC raised its stake in shares of Alcoa by 0.5% in the second quarter. Hollencrest Securities LLC now owns 41,420 shares of the company’s stock valued at $384,000 after buying an additional 204 shares in the last quarter. Washington Trust Bank raised its stake in shares of Alcoa by 1.2% in the third quarter. Washington Trust Bank now owns 17,331 shares of the company’s stock valued at $176,000 after buying an additional 206 shares in the last quarter. Finally, Westport Resources Management Inc. raised its stake in shares of Alcoa by 0.6% in the second quarter. Westport Resources Management Inc. now owns 45,540 shares of the company’s stock valued at $422,000 after buying an additional 250 shares in the last quarter.
Alcoa Company Profile
Alcoa Inc is engaged in lightweight metals engineering and manufacturing. The Company operates in five segments: Alumina, Primary Metals, Global Rolled Products, Engineered Products and Solutions, and Transportation and Construction Solutions. The Company’s multi-material products, which include aluminum, titanium and nickel, are used across the world in aerospace, automobiles, commercial transportation, packaging, building and construction, defense, consumer electronics, oil and gas, and industrial applications.
Receive News & Ratings for Alcoa Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alcoa Inc. and related companies with MarketBeat.com's FREE daily email newsletter.