Alcoa Sees Unusually High Options Volume (AA)
Shares of Alcoa (NYSE:AA) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 23,992 put options on the stock, Stock Ratings Network.com reports. This is an increase of approximately 294% compared to the average volume of 6,084 put options.
A number of research firms have recently commented on AA. Analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Alcoa in a research note to investors on Tuesday. Separately, analysts at Morgan Stanley downgraded shares of Alcoa from an “overweight” rating to an “equal weight” rating in a research note to investors on Monday. They now have a $9.00 price target on the stock, down previously from $10.00. Finally, analysts at RBC Capital reiterated an “underperform” rating on shares of Alcoa in a research note to investors on Friday. They now have a $9.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Alcoa currently has a consensus rating of “Hold” and a consensus target price of $8.45.
Alcoa (NYSE:AA) traded down 0.38% during mid-day trading on Tuesday, hitting $7.94. 36,029,400 shares of the company’s stock traded hands. Alcoa has a 1-year low of $7.63 and a 1-year high of $9.37. The stock has a 50-day moving average of $8.0 and a 200-day moving average of $8.19. The company has a market cap of $8.492 billion and a price-to-earnings ratio of 66.97.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 8th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, analysts predict that Alcoa will post $0.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 25th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Wednesday, November 6th.
Alcoa Inc (NYSE:AA) is engaged in the production and management of primary aluminum, fabricated aluminum, and alumina combined, through its participation in technology, mining, refining, smelting, fabricating, and recycling.
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