News

Dec 11, 2023

Alcoa Co. (NYSE:AA) Receives Average Rating of "Hold" from Brokerages

Shares of Alcoa Co. (NYSE:AA - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two

Shares of Alcoa Co. (NYSE:AA - Get Free Report) have been assigned an average recommendation of "Hold" from the eleven ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $38.82.

A number of research firms have recently issued reports on AA. Bank of America dropped their price target on Alcoa from $53.00 to $52.00 in a research note on Wednesday, June 21st. B. Riley dropped their price objective on shares of Alcoa from $37.00 to $34.00 and set a "neutral" rating for the company in a report on Friday, July 21st. Wolfe Research downgraded shares of Alcoa from a "market perform" rating to an "underperform" rating and set a $25.00 price target on the stock. in a research note on Tuesday, July 11th. B. Riley Financial lowered their target price on shares of Alcoa from $37.00 to $34.00 and set a "neutral" rating for the company in a report on Friday, July 21st. Finally, BMO Capital Markets decreased their price target on shares of Alcoa from $33.00 to $30.00 and set a "market perform" rating for the company in a research note on Thursday, July 20th.

Read Our Latest Report on Alcoa

AA stock opened at $33.93 on Thursday. Alcoa has a fifty-two week low of $31.14 and a fifty-two week high of $58.24. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of -4.16 and a beta of 2.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 1.80. The business's 50 day moving average price is $34.41 and its two-hundred day moving average price is $40.56.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The industrial products company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.24. Alcoa had a negative return on equity of 4.36% and a negative net margin of 13.37%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the firm earned $2.67 EPS. Alcoa's quarterly revenue was down 26.3% compared to the same quarter last year. As a group, analysts forecast that Alcoa will post -1.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Tuesday, August 8th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Monday, August 7th. Alcoa's dividend payout ratio is currently -4.90%.

Several large investors have recently added to or reduced their stakes in AA. Bank Julius Baer & Co. Ltd Zurich lifted its position in Alcoa by 98,060.4% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 26,012,519 shares of the industrial products company's stock valued at $882,605,000 after buying an additional 25,986,019 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Alcoa by 4,737.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,578,275 shares of the industrial products company's stock worth $208,174,000 after acquiring an additional 4,483,625 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Alcoa by 72.4% in the first quarter. Bank of New York Mellon Corp now owns 10,299,263 shares of the industrial products company's stock valued at $438,337,000 after purchasing an additional 4,325,754 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Alcoa by 24,497.6% in the 4th quarter. Franklin Resources Inc. now owns 3,960,949 shares of the industrial products company's stock valued at $180,104,000 after buying an additional 3,944,846 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Alcoa during the first quarter worth about $318,670,000.

Alcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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