Alcoa Receives “Neutral” Rating from Zacks (AA)
Alcoa (NYSE:AA)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Thursday, Stock Ratings News reports. They currently have a $8.50 price objective on the stock. Zacks‘ price target suggests a potential upside of 4.94% from the stock’s previous close.
Alcoa (NYSE:AA) traded up 3.09% on Thursday, hitting $8.35. The stock had a trading volume of 40,679,576 shares. Alcoa has a one year low of $7.63 and a one year high of $9.37. The stock has a 50-day moving average of $8.06 and a 200-day moving average of $8.18. The company has a market cap of $8.931 billion and a price-to-earnings ratio of 68.07. Alcoa also saw some unusual options trading activity on Monday. Investors acquired 28,824 call options on the company. This represents an increase of approximately 190% compared to the average volume of 9,949 call options.
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 $0.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, November 25th. Stockholders 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 1.48%. The ex-dividend date is Wednesday, November 6th.
A number of other firms have also recently commented on AA. Analysts at Barclays Capital upgraded shares of Alcoa from an “underweight” rating to a “market weight” rating in a research note to investors on Wednesday. Separately, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Alcoa in a research note to investors on Tuesday. Finally, 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. 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. Alcoa currently has an average rating of “Hold” and a consensus target price of $8.42.
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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