Alcoa Inc. (AA) Scheduled to Post Earnings on Tuesday
Alcoa Inc. (NYSE:AA) is set to announce its Q316 earnings results on Tuesday, October 11th. Analysts expect the company to announce earnings of $0.11 per share and revenue of $5.30 billion for the quarter.
Alcoa (NYSE:AA) last released its quarterly earnings results on Monday, July 11th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.06. The firm had revenue of $5.30 billion for the quarter. Alcoa had a negative net margin of 1.45% and a positive return on equity of 3.44%. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 EPS. On average, analysts expect Alcoa to post $1.27 EPS for the current fiscal year and $1.74 EPS for the next fiscal year.
Shares of Alcoa Inc. (NYSE:AA) opened at 31.37 on Monday. The stock’s 50 day moving average is $29.91 and its 200 day moving average is $29.82. The stock’s market cap is $13.75 billion. Alcoa Inc. has a 52-week low of $18.42 and a 52-week high of $34.50.
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The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 4th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. Alcoa’s dividend payout ratio (DPR) is -42.85%.
AA has been the topic of several recent analyst reports. Argus restated a “hold” rating on shares of Alcoa in a research report on Friday, July 15th. Morgan Stanley restated a “buy” rating and set a $12.00 target price on shares of Alcoa in a research report on Tuesday, August 16th. Bank of America Corp. restated a “buy” rating on shares of Alcoa in a research report on Friday, June 17th. Seaport Global Securities initiated coverage on shares of Alcoa in a research report on Friday, September 9th. They set a “neutral” rating and a $11.00 target price on the stock. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Alcoa in a research report on Tuesday, July 12th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Alcoa presently has a consensus rating of “Buy” and an average target price of $12.26.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were acquired at an average price of $10.40 per share, with a total value of $52,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $104,000. The purchase was disclosed in a document filed with the SEC, which is available through this link.
Several institutional investors have recently modified their holdings of the stock. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Alcoa by 2.3% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,018,967 shares of the company’s stock worth $27,986,000 after buying an additional 66,500 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in Alcoa during the second quarter worth $2,021,000. Paloma Partners Management Co purchased a new stake in Alcoa during the second quarter worth $1,409,000. Panagora Asset Management Inc. raised its stake in Alcoa by 31.1% in the second quarter. Panagora Asset Management Inc. now owns 146,169 shares of the company’s stock worth $1,355,000 after buying an additional 34,676 shares during the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in Alcoa during the second quarter worth $422,000.
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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