FY2016 Earnings Estimate for Alcoa Inc. (AA) Issued By Seaport Global Securities
Alcoa Inc. (NYSE:AA) – Equities researchers at Seaport Global Securities reduced their FY2016 earnings estimates for shares of Alcoa in a research report issued on Monday. Seaport Global Securities analyst J. Sullivan now expects that the brokerage will post earnings per share of $1.31 for the year, down from their previous estimate of $1.32. Seaport Global Securities currently has a “Neutral” rating and a $11.00 target price on the stock. Seaport Global Securities also issued estimates for Alcoa’s Q4 2016 earnings at $0.35 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.43 EPS, FY2017 earnings at $1.62 EPS, Q1 2018 earnings at $0.44 EPS, Q2 2018 earnings at $0.47 EPS and Q3 2018 earnings at $0.50 EPS.
Other equities research analysts have also issued research reports about the company. Bank of America Corp. reiterated a “buy” rating and issued a $11.00 target price on shares of Alcoa in a research note on Tuesday, July 12th. Credit Suisse Group AG reiterated a “buy” rating on shares of Alcoa in a research note on Thursday, June 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 target price on shares of Alcoa in a research note on Wednesday, June 15th. Macquarie reiterated a “buy” rating on shares of Alcoa in a research note on Tuesday, July 12th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $12.00 target price on shares of Alcoa in a research note on Tuesday, August 16th. Eight research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $13.31.
Shares of Alcoa (NYSE:AA) traded down 10.457% during midday trading on Tuesday, reaching $28.215. The company’s stock had a trading volume of 22,150,627 shares. The company’s 50-day moving average price is $29.93 and its 200 day moving average price is $29.86. Alcoa has a 1-year low of $18.42 and a 1-year high of $34.50. The firm’s market capitalization is $12.37 billion.
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Alcoa (NYSE:AA) last issued its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.21. Alcoa had a positive return on equity of 3.44% and a negative net margin of 1.45%. The company earned $5.21 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 4th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, November 2nd. Alcoa’s payout ratio is currently -42.85%.
In other Alcoa news, Director Ulrich Schmidt bought 5,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were purchased at an average price of $10.40 per share, with a total value of $52,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $104,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several institutional investors have recently modified their holdings of AA. Citizens Financial Group Inc RI boosted its position in shares of Alcoa by 14.1% in the first quarter. Citizens Financial Group Inc RI now owns 11,349 shares of the company’s stock valued at $109,000 after buying an additional 1,401 shares during the period. Cupps Capital Management LLC purchased a new position in shares of Alcoa during the first quarter valued at about $109,000. AXA purchased a new position in shares of Alcoa during the first quarter valued at about $115,000. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Alcoa during the second quarter valued at about $121,000. Finally, Savant Capital LLC boosted its position in shares of Alcoa by 21.9% in the second quarter. Savant Capital LLC now owns 13,125 shares of the company’s stock valued at $122,000 after buying an additional 2,360 shares during the period.
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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