Alcoa Inc. to Post FY2016 Earnings of $1.18 Per Share, Seaport Global Securities Forecasts (AA)
Alcoa Inc. (NYSE:AA) – Equities research analysts at Seaport Global Securities cut their FY2016 earnings per share (EPS) estimates for Alcoa in a report released on Wednesday. Seaport Global Securities analyst J. Sullivan now forecasts that the firm will post earnings of $1.18 per share for the year, down from their prior forecast of $1.31. Seaport Global Securities has a “Neutral” rating and a $11.00 price objective on the stock. Seaport Global Securities also issued estimates for Alcoa’s Q2 2017 earnings at $0.27 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.38 EPS and Q3 2018 earnings at $0.40 EPS.
Alcoa (NYSE:AA) last announced its quarterly earnings data on Tuesday, October 11th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.21. Alcoa had a negative net margin of 0.88% and a positive return on equity of 3.87%. The company earned $5.21 billion during the quarter. During the same quarter in the previous year, the business earned $0.07 EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Alcoa from a “buy” rating to a “hold” rating in a report on Thursday. Cowen and Company upped their target price on shares of Alcoa from $10.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday. RBC Capital Markets reaffirmed a “sector perform” rating and set a $31.00 target price (down previously from $33.00) on shares of Alcoa in a report on Wednesday. Deutsche Bank AG dropped their target price on shares of Alcoa to $33.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $33.00 target price on shares of Alcoa in a report on Wednesday. Eleven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Alcoa has a consensus rating of “Buy” and an average price target of $17.74.
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Shares of Alcoa (NYSE:AA) traded down 1.25% during midday trading on Thursday, reaching $26.77. 8,046,089 shares of the company were exchanged. The firm’s market capitalization is $11.74 billion. The firm has a 50-day moving average of $29.71 and a 200 day moving average of $29.83. Alcoa has a 52 week low of $18.42 and a 52 week high of $34.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 4th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%. Alcoa’s payout ratio is -63.15%.
In related news, Director Ulrich Schmidt purchased 5,000 shares of the company’s stock in a transaction on Wednesday, July 20th. The shares were bought at an average cost of $10.40 per share, for a total transaction of $52,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $104,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of institutional investors have recently made changes to their positions in the stock. Cupps Capital Management LLC bought a new position in shares of Alcoa during the first quarter valued at approximately $109,000. Citizens Financial Group Inc RI raised 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 in the last quarter. AXA bought a new position in shares of Alcoa during the first quarter valued at approximately $115,000. QUANTRES ASSET MANAGEMENT Ltd bought a new position in shares of Alcoa during the second quarter valued at approximately $121,000. Finally, Savant Capital LLC raised 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 in the last quarter.
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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