FY2016 EPS Estimates for Alcoa Inc. (AA) Reduced by Seaport Global Securities
Alcoa Inc. (NYSE:AA) – Equities researchers at Seaport Global Securities reduced their FY2016 earnings estimates for shares of Alcoa in a research note issued on Wednesday. Seaport Global Securities analyst J. Sullivan now expects that the firm will post earnings of $1.18 per share for the year, down from their previous estimate of $1.31. Seaport Global Securities has a “Neutral” rating and a $11.00 price objective on the stock. Seaport Global Securities also issued estimates for Alcoa’s Q2 2017 earnings at $0.27 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.38 EPS and Q3 2018 earnings at $0.40 EPS.
Several other analysts have also issued reports on AA. Bank of America Corp. reaffirmed a “buy” rating on shares of Alcoa in a research note on Friday, June 17th. Morgan Stanley reaffirmed an “overweight” rating and issued a $12.00 target price (up previously from $11.00) on shares of Alcoa in a research note on Thursday, June 30th. Berenberg Bank reiterated a “hold” rating and issued a $9.00 price objective on shares of Alcoa in a research report on Thursday, June 30th. Credit Suisse Group AG reiterated a “buy” rating on shares of Alcoa in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. Eleven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Alcoa currently has an average rating of “Buy” and a consensus target price of $17.74.
Shares of Alcoa (NYSE:AA) opened at 26.75 on Thursday. Alcoa has a 52-week low of $18.42 and a 52-week high of $34.50. The company has a 50-day moving average of $29.62 and a 200 day moving average of $29.80. The firm’s market cap is $11.73 billion.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The company earned $5.21 billion during the quarter. During the same period last year, the business earned $0.07 EPS. The business’s quarterly revenue was down 6.5% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be given 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 0.45%. Alcoa’s dividend payout ratio (DPR) is presently -63.15%.
In other Alcoa news, Director Ulrich Schmidt acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were bought at an average cost of $10.40 per share, with a total value of $52,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several large investors have recently added to or reduced their stakes in the stock. Parametrica Management Ltd acquired a new stake in Alcoa during the third quarter valued at approximately $158,000. MSI Financial Services Inc boosted its stake in Alcoa by 44.2% in the third quarter. MSI Financial Services Inc now owns 121,194 shares of the company’s stock valued at $1,229,000 after buying an additional 37,122 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in 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 during the period. Patten & Patten Inc. TN boosted its stake in Alcoa by 46.1% in the third quarter. Patten & Patten Inc. TN now owns 187,177 shares of the company’s stock valued at $1,898,000 after buying an additional 59,050 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Alcoa by 0.9% in the third quarter. Nisa Investment Advisors LLC now owns 174,582 shares of the company’s stock valued at $1,770,000 after buying an additional 1,618 shares during the period.
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.
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