Alcoa (AA) to Issue Quarterly Dividend of $0.10 on November 13th

Alcoa (NYSE:AA) declared a quarterly dividend on Thursday, October 15th. Stockholders of record on Tuesday, October 27th will be paid a dividend of $0.10 per share by the industrial products company on Friday, November 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, October 27th.

Alcoa has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Alcoa to earn $5.69 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 7.0%.

Alcoa Trading Up 2.6%

Shares of Alcoa stock traded up $1.03 on Friday, reaching $41.45. 13,826,656 shares of the company’s stock were exchanged, compared to its average volume of 4,577,862. The firm’s 50-day moving average is $46.92 and its two-hundred day moving average is $56.04. The company has a market capitalization of $10.94 billion, a P/E ratio of 7.16, a price-to-earnings-growth ratio of 0.50 and a beta of 1.74. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.53. Alcoa has a 52 week low of $35.12 and a 52 week high of $84.38.

Alcoa (NYSE:AA) last posted its quarterly earnings results on Thursday, October 15th. The industrial products company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.31. The firm had revenue of $3.70 billion during the quarter, compared to the consensus estimate of $3.77 billion. Alcoa had a net margin of 10.77% and a return on equity of 25.92%. The business’s revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Sell-side analysts predict that Alcoa will post 6.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AA shares. Royal Bank Of Canada set a $70.00 target price on Alcoa in a research report on Wednesday, July 1st. Wells Fargo & Company reiterated an “overweight” rating on shares of Alcoa in a report on Friday. BMO Capital Markets cut their price target on Alcoa from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Friday, July 17th. Morgan Stanley reduced their price objective on Alcoa from $53.00 to $50.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 7th. Finally, Zacks Research upgraded Alcoa from a “strong sell” rating to a “hold” rating in a report on Monday, September 14th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Alcoa presently has an average rating of “Hold” and a consensus price target of $62.17.

Alcoa Company Profile

Alcoa Corporation (NYSE:AA) is a global producer of aluminum and an integrated participant in the aluminum industry. Its operations span the value chain from bauxite mining and alumina refining to aluminum smelting, casting and recycling.

The company supplies aluminum products used in transportation, building and construction, packaging, aerospace, automotive, electrical and other industrial applications. Its portfolio includes primary aluminum, alumina, aluminum billets and other cast products, as well as low-carbon and recycled aluminum offerings.

Alcoa traces its origins to the Pittsburgh Reduction Company, founded in 1888, and has helped develop the modern aluminum industry.