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. The company offers primary aluminum in the form of alloy ingot or value-add ingot to customers that produce products for the transportation, building and construction, packaging, wire, and other industrial markets. In addition, it owns hydro power plants that generates and sells electricity in the wholesale market to traders, large industrial consumers, distribution companies, and other generation companies. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016. The company was founded in 1888 and is headquartered in Pittsburgh, Pennsylvania.
Alcoa Stock Performance
Shares of NYSE:AA traded down $2.56 during trading hours on Friday, reaching $51.28. The stock had a trading volume of 70,849 shares, compared to its average volume of 5,580,166. The business's fifty day moving average is $47.84 and its two-hundred day moving average is $64.85. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.81 and a quick ratio of 1.02. The company has a market cap of $9.23 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.82 and a beta of 2.33. Alcoa has a twelve month low of $36.61 and a twelve month high of $98.09.
Alcoa (NYSE:AA - Get Rating) last issued its earnings results on Wednesday, July 20th. The industrial products company reported $2.67 EPS for the quarter, missing analysts' consensus estimates of $3.71 by ($1.04). The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.48 billion. Alcoa had a net margin of 7.19% and a return on equity of 30.66%. The business's revenue for the quarter was up 28.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share. As a group, research analysts expect that Alcoa will post 6.53 EPS for the current year.
Alcoa Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Shareholders of record on Tuesday, August 9th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, August 8th. This represents a $0.40 annualized dividend and a yield of 0.78%. Alcoa's dividend payout ratio is currently 7.86%.
Analysts Set New Price Targets
A number of brokerages have issued reports on AA. Morgan Stanley decreased their target price on Alcoa from $55.00 to $51.00 and set an "equal weight" rating for the company in a research report on Monday, July 25th. BMO Capital Markets decreased their target price on Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. Citigroup cut Alcoa from a "buy" rating to a "neutral" rating and set a $84.00 target price for the company. in a research report on Thursday, April 21st. Credit Suisse Group decreased their target price on Alcoa from $82.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, July 19th. Finally, The Goldman Sachs Group decreased their target price on Alcoa from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, July 22nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $78.64.