Alcoa Sees Unusually High Options Volume (AA)
Alcoa (NYSE:AA) was the recipient of some unusual options trading on Tuesday. Traders acquired 33,266 call options on the company, American Banking & Market News reports. This represents an increase of 211% compared to the average daily volume of 10,689 call options.
A number of analysts have recently weighed in on AA shares. 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 research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $8.45.
Shares of Alcoa (NYSE:AA) traded down 0.38% on Tuesday, hitting $7.94. The stock had a trading volume of 35,656,784 shares. Alcoa has a 52 week low of $7.63 and a 52 week high of $9.37. The stock’s 50-day moving average is $8.0 and its 200-day moving average is $8.19. The company has a market cap of $8.492 billion and a P/E ratio of 66.97.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, October 8th. The company reported $0.11 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.03 earnings per share. Alcoa’s revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Alcoa will post $0.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 25th. Shareholders of record on Friday, November 8th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend 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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