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Dec 02, 2023

Alcoa Co. (NYSE:AA) Given Consensus Recommendation of "Hold" by Analysts

Shares of Alcoa Co. (NYSE:AA - Get Free Report) have been given a consensus rating of "Hold" by the eleven analysts that are presently covering the company, Marketbeat reports. Two investment analysts

Shares of Alcoa Co. (NYSE:AA - Get Free Report) have been given a consensus rating of "Hold" by the eleven analysts that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $38.82.

Several analysts have recently issued reports on the stock. B. Riley reduced their price target on shares of Alcoa from $37.00 to $34.00 and set a "neutral" rating on the stock in a research report on Friday, July 21st. Argus lowered shares of Alcoa from a "buy" rating to a "hold" rating in a research note on Monday, July 24th. StockNews.com began coverage on shares of Alcoa in a research note on Thursday, August 17th. They set a "sell" rating on the stock. Citigroup cut their target price on shares of Alcoa from $50.00 to $42.00 and set a "buy" rating on the stock in a research note on Friday, July 21st. Finally, JPMorgan Chase & Co. lowered shares of Alcoa from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $54.00 to $36.00 in a research note on Friday, July 14th.

View Our Latest Research Report on Alcoa

Alcoa stock opened at $28.23 on Monday. Alcoa has a 52-week low of $27.76 and a 52-week high of $58.24. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -3.46 and a beta of 2.44. The company has a fifty day simple moving average of $33.20 and a 200-day simple moving average of $38.00. The company has a quick ratio of 0.87, a current ratio of 1.80 and a debt-to-equity ratio of 0.28.

Alcoa (NYSE:AA - Get Free Report) last posted its earnings results on Wednesday, July 19th. The industrial products company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.59) by $0.24. Alcoa had a negative net margin of 13.37% and a negative return on equity of 4.36%. The company had revenue of $2.68 billion for the quarter, compared to analysts' expectations of $2.68 billion. During the same quarter in the prior year, the company posted $2.67 earnings per share. Alcoa's revenue for the quarter was down 26.3% compared to the same quarter last year. On average, equities analysts anticipate that Alcoa will post -1.01 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Tuesday, August 8th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Monday, August 7th. Alcoa's dividend payout ratio (DPR) is currently -4.90%.

A number of hedge funds have recently made changes to their positions in AA. Neo Ivy Capital Management purchased a new position in shares of Alcoa in the second quarter valued at $27,000. Fairfield Bush & CO. purchased a new stake in Alcoa during the 1st quarter worth about $29,000. Kistler Tiffany Companies LLC purchased a new stake in Alcoa during the 2nd quarter worth about $32,000. Resurgent Financial Advisors LLC purchased a new stake in Alcoa during the 4th quarter worth about $32,000. Finally, ICA Group Wealth Management LLC purchased a new stake in Alcoa during the 4th quarter worth about $36,000.

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.

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