Alcoa Co. (NYSE:AA – Get Rating) – Equities research analysts at Jefferies Financial Group reduced their FY2024 EPS estimates for Alcoa in a research note issued to investors on Tuesday, September 27th. Jefferies Financial Group analyst C. Lafemina now anticipates that the industrial products company will post earnings per share of $5.07 for the year, down from their previous estimate of $5.14. The consensus estimate for Alcoa's current full-year earnings is $7.16 per share. Jefferies Financial Group also issued estimates for Alcoa's FY2025 earnings at $7.46 EPS.
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Alcoa (NYSE:AA – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The industrial products company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.07. Alcoa had a return on equity of 30.66% and a net margin of 7.19%. The firm had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.48 billion. During the same period in the prior year, the firm earned $1.49 EPS. The company's revenue was up 28.6% compared to the same quarter last year.
Other equities research analysts have also issued research reports about the stock. Credit Suisse Group reduced their price target on shares of Alcoa from $63.00 to $50.00 and set a "neutral" rating for the company in a research report on Wednesday, September 21st. B. Riley reduced their target price on shares of Alcoa from $54.00 to $51.00 in a report on Tuesday. BMO Capital Markets cut their price objective on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. The Goldman Sachs Group decreased their target price on Alcoa from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, July 22nd. Finally, Morgan Stanley raised Alcoa from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $51.00 to $66.00 in a report on Friday, September 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Alcoa currently has a consensus rating of "Hold" and an average target price of $78.55.
Alcoa Stock Up 0.6 %
AA stock opened at $35.43 on Thursday. The company has a market cap of $6.37 billion, a price-to-earnings ratio of 6.96, a P/E/G ratio of 0.50 and a beta of 2.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.02 and a current ratio of 1.81. The business's 50-day moving average is $47.86 and its two-hundred day moving average is $59.08. Alcoa has a fifty-two week low of $33.70 and a fifty-two week high of $98.09.
Institutional Investors Weigh In On Alcoa
A number of hedge funds have recently made changes to their positions in AA. Moors & Cabot Inc. increased its stake in Alcoa by 2.2% in the 1st quarter. Moors & Cabot Inc. now owns 8,748 shares of the industrial products company's stock worth $788,000 after acquiring an additional 185 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Alcoa by 19.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,232 shares of the industrial products company's stock valued at $56,000 after purchasing an additional 200 shares in the last quarter. Hanseatic Management Services Inc. bought a new stake in Alcoa in the first quarter worth $25,000. Arizona State Retirement System raised its stake in Alcoa by 0.6% during the first quarter. Arizona State Retirement System now owns 50,577 shares of the industrial products company's stock valued at $4,553,000 after purchasing an additional 283 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Alcoa by 0.6% during the second quarter. Thrivent Financial for Lutherans now owns 48,391 shares of the industrial products company's stock valued at $2,206,000 after purchasing an additional 284 shares during the last quarter.
Alcoa Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th were issued a $0.10 dividend. The ex-dividend date was Monday, August 8th. This represents a $0.40 dividend on an annualized basis and a yield of 1.13%. Alcoa's dividend payout ratio is currently 7.86%.
Alcoa Company Profile
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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.
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