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

Alcoa Co. (NYSE:AA) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Tuesday, March 4th will be paid a dividend of 0.10 per share by the industrial products company on Thursday, March 20th. This represents a $0.40 dividend on an annualized basis and a yield of 1.07%.

Alcoa has increased its dividend payment by an average of 58.7% annually over the last three years. Alcoa has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Alcoa to earn $3.17 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 12.6%.

Alcoa Stock Up 3.0 %

Shares of NYSE:AA traded up $1.08 during trading on Thursday, reaching $37.26. 5,980,290 shares of the stock were exchanged, compared to its average volume of 5,073,336. The stock has a fifty day moving average of $37.07 and a two-hundred day moving average of $37.77. Alcoa has a 1-year low of $24.86 and a 1-year high of $47.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.45 and a quick ratio of 0.86. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of -232.85, a price-to-earnings-growth ratio of 0.20 and a beta of 2.43.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. Alcoa had a net margin of 0.50% and a return on equity of 5.54%. Research analysts anticipate that Alcoa will post 4.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AA. Argus upgraded shares of Alcoa from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, October 23rd. Jefferies Financial Group reduced their target price on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley reduced their target price on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on shares of Alcoa from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Finally, BMO Capital Markets boosted their price target on shares of Alcoa to $43.00 and gave the stock a “hold” rating in a report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.55.

About Alcoa

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.