Alcoa Co. (AA) to Issue Quarterly Dividend of $0.10 on June 6th

Alcoa Co. (NYSE:AA) declared a quarterly dividend on Friday, May 9th, RTT News reports. Shareholders of record on Tuesday, May 20th will be paid a dividend of 0.10 per share by the industrial products company on Friday, June 6th. This represents a $0.40 annualized dividend and a yield of 1.54%.

Alcoa has raised its dividend by an average of 58.7% annually over the last three years. Alcoa has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE:AA opened at $25.89 on Friday. The firm has a market capitalization of $6.70 billion, a price-to-earnings ratio of -161.81, a price-to-earnings-growth ratio of 0.19 and a beta of 2.29. 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 business’s 50 day simple moving average is $28.13 and its 200-day simple moving average is $35.34. Alcoa has a 12 month low of $21.53 and a 12 month high of $47.77.

Alcoa (NYSE:AA) last issued its quarterly earnings data on Wednesday, April 16th. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.42. The firm had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.58 billion. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. As a group, equities analysts forecast that Alcoa will post 4.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AA. B. Riley dropped their target price on shares of Alcoa from $44.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M StockNews.com raised shares of Alcoa from a “hold” rating to a “buy” rating in a research note on Friday, April 18th. BMO Capital Markets lifted their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. HC Wainwright increased their target price on Alcoa to $90.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, UBS Group cut their price target on Alcoa from $47.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Alcoa presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.17.

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.