Alcoa Sees Unusually High Options Volume (AA)
Alcoa (NYSE:AA) was the target of unusually large options trading on Tuesday. Traders bought 24,246 call options on the company, Stock Ratings Network reports. This represents an increase of approximately 112% compared to the typical volume of 11,437 call options.
A number of research firms have recently commented on AA. Analysts at Cowen and Company raised their price target on shares of Alcoa from $12.00 to $16.00 in a research note on Tuesday, August 12th. They now have a “market perform” rating on the stock. Separately, analysts at Goldman Sachs raised their price target on shares of Alcoa from $17.00 to $20.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Finally, analysts at Macquarie raised their price target on shares of Alcoa from $10.00 to $11.00 in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Alcoa presently has an average rating of “Hold” and an average price target of $15.50.
Alcoa (NYSE:AA) traded up 0.67% during mid-day trading on Tuesday, hitting $16.43. 13,164,995 shares of the company’s stock traded hands. Alcoa has a 52 week low of $7.68 and a 52 week high of $17.22. The stock has a 50-day moving average of $16.13 and a 200-day moving average of $13.71. The company’s market cap is $19.327 billion.
Alcoa (NYSE:AA) last announced its earnings results on Tuesday, July 8th. The company reported $0.18 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.12 by $0.06. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.66 billion. During the same quarter last year, the company posted $0.07 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Analysts expect that Alcoa will post $0.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 25th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Wednesday, August 6th.
Alcoa Inc (NYSE:AA) is engaged in lightweight metals, products and solutions.
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