Alcoa Co. Declares Quarterly Dividend of $0.10 (NYSE:AA)

Alcoa Co. (NYSE:AA) declared a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders of record on Tuesday, October 29th will be paid a dividend of 0.10 per share by the industrial products company on Friday, November 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.95%.

Alcoa has a dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alcoa to earn $2.79 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 14.3%.

Alcoa Stock Performance

Shares of AA opened at $42.09 on Thursday. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a quick ratio of 0.92, a current ratio of 1.55 and a debt-to-equity ratio of 0.46. The stock has a market cap of $7.56 billion, a P/E ratio of -11.19 and a beta of 2.42. The business’s 50 day moving average price is $34.55 and its 200-day moving average price is $36.71.

Alcoa (NYSE:AA) last released its earnings results on Wednesday, July 17th. The industrial products company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.11 by $0.05. Alcoa had a negative return on equity of 7.29% and a negative net margin of 5.14%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the company posted ($0.35) earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Alcoa will post 0.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of Alcoa from a “peer perform” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Wednesday, September 4th. StockNews.com downgraded shares of Alcoa from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. B. Riley raised their price target on shares of Alcoa from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Morgan Stanley lowered their price objective on Alcoa from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Finally, UBS Group increased their target price on Alcoa from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Alcoa currently has a consensus rating of “Hold” and a consensus target price of $42.55.

Alcoa Company Profile

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 two segments, 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.