Q4 2024 EPS Estimates for Alcoa Co. (NYSE:AA) Boosted by B. Riley

Alcoa Co. (NYSE:AA - Free Report) - Analysts at B. Riley boosted their Q4 2024 EPS estimates for shares of Alcoa in a research report issued on Tuesday, September 17th. B. Riley analyst L. Pipes now forecasts that the industrial products company will earn $0.43 per share for the quarter, up from their prior estimate of $0.39. B. Riley has a "Neutral" rating and a $41.00 price target on the stock. The consensus estimate for Alcoa's current full-year earnings is $0.70 per share.

Alcoa (NYSE:AA - Get Free Report) last posted its quarterly 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. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.84 billion. Alcoa had a negative net margin of 5.14% and a negative return on equity of 7.29%. The business's revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) earnings per share.

AA has been the subject of a number of other reports. B. Riley Financial reiterated a "neutral" rating and set a $41.00 target price on shares of Alcoa in a report on Tuesday. Bank of America dropped their price objective on Alcoa from $46.00 to $43.00 and set a "neutral" rating for the company in a report on Thursday, July 18th. Wolfe Research raised Alcoa from a "peer perform" rating to an "outperform" rating and set a $36.00 target price on the stock in a research note on Wednesday, September 4th. Morgan Stanley decreased their target price on Alcoa from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Monday, July 22nd. Finally, StockNews.com upgraded shares of Alcoa from a "sell" rating to a "hold" rating in a report on Thursday, July 18th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $40.45.

Alcoa Trading Up 1.7 %

AA stock traded up $0.58 during midday trading on Thursday, hitting $34.92. The company had a trading volume of 6,374,186 shares, compared to its average volume of 6,021,233. The stock has a market cap of $6.27 billion, a price-to-earnings ratio of -9.35 and a beta of 2.42. Alcoa has a 52 week low of $23.07 and a 52 week high of $45.48. The company has a current ratio of 1.55, a quick ratio of 0.92 and a debt-to-equity ratio of 0.46. The stock's 50 day moving average price is $32.70 and its 200 day moving average price is $35.61.

Hedge Funds Weigh In On Alcoa

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Douglas Lane & Associates LLC boosted its holdings in shares of Alcoa by 12.9% in the 1st quarter. Douglas Lane & Associates LLC now owns 1,351,720 shares of the industrial products company's stock worth $45,675,000 after purchasing an additional 154,403 shares during the period. ARGA Investment Management LP boosted its holdings in shares of Alcoa by 202.2% in the first quarter. ARGA Investment Management LP now owns 1,491,544 shares of the industrial products company's stock valued at $50,399,000 after purchasing an additional 997,912 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Alcoa in the 1st quarter worth $593,000. Cloverfields Capital Group LP bought a new position in shares of Alcoa during the 4th quarter worth $865,000. Finally, U.S. Capital Wealth Advisors LLC bought a new stake in shares of Alcoa in the second quarter valued at about $706,000. 82.39% of the stock is owned by hedge funds and other institutional investors.

Alcoa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Monday, August 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.15%. Alcoa's dividend payout ratio (DPR) is -10.64%.

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.