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 Trading Down 1.0 %
Shares of NYSE:AA traded down $0.51 during midday trading on Friday, hitting $52.76. The company had a trading volume of 4,262,674 shares, compared to its average volume of 5,868,815. The firm has a fifty day simple moving average of $48.57 and a 200 day simple moving average of $65.03. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.84 and a beta of 2.33. The company has a current ratio of 1.81, a quick ratio of 1.02 and a debt-to-equity ratio of 0.24. Alcoa has a 12 month low of $36.61 and a 12 month high of $98.09.
Alcoa (NYSE:AA - Get Rating) last released its quarterly 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). Alcoa had a return on equity of 30.66% and a net margin of 7.19%. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the business earned $1.49 EPS. The company's revenue for the quarter was up 28.6% compared to the same quarter last year. On average, analysts predict that Alcoa will post 6.53 EPS for the current year.
Alcoa Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Tuesday, August 9th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Monday, August 8th. Alcoa's payout ratio is presently 7.86%.
Wall Street Analysts Forecast Growth
AA has been the topic of a number of recent research reports. Morgan Stanley decreased their price objective on Alcoa from $55.00 to $51.00 and set an "equal weight" rating on the stock in a report on Monday, July 25th. B. Riley dropped their price objective on Alcoa from $84.00 to $54.00 and set a "neutral" rating for the company in a research note on Tuesday, June 28th. Citigroup downgraded shares of Alcoa from a "buy" rating to a "neutral" rating and set a $84.00 target price on the stock. in a research note on Thursday, April 21st. The Goldman Sachs Group dropped their target price on shares of Alcoa from $90.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, July 22nd. Finally, BMO Capital Markets reduced their price target on shares of Alcoa from $57.00 to $55.00 in a research report on Thursday, July 21st. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $78.64.