B. Riley Has Lowered Expectations for Alcoa (NYSE:AA) Stock Price

Alcoa (NYSE:AA) had its target price reduced by B. Riley from $44.00 to $43.00 in a report released on Thursday morning. They currently have a buy rating on the industrial products company’s stock. Q1 EBITDA beat expectations, Q2 EBITDA estimate raised to 439M from 351M

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Alcoa from $28.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group reduced their price target on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. BMO Capital Markets upped their price objective on Alcoa to $43.00 and gave the stock a “hold” rating in a research report on Friday, January 17th. Morgan Stanley cut their target price on shares of Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $26.00 price objective (down previously from $58.00) on shares of Alcoa in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Alcoa presently has an average rating of “Moderate Buy” and a consensus price target of $44.17.

Alcoa Price Performance

NYSE AA opened at $23.26 on Thursday. Alcoa has a 12-month low of $21.53 and a 12-month high of $47.77. The firm’s fifty day simple moving average is $31.33 and its two-hundred day simple moving average is $37.06. The company has a current ratio of 1.45, a quick ratio of 0.86 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $6.02 billion, a P/E ratio of -145.39, a P/E/G ratio of 0.19 and a beta of 2.28.

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

Alcoa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Tuesday, March 4th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Tuesday, March 4th. Alcoa’s dividend payout ratio is currently -250.00%.

Institutional Trading of Alcoa

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Alcoa by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 25,979,129 shares of the industrial products company’s stock worth $981,491,000 after buying an additional 165,420 shares in the last quarter. Norges Bank acquired a new stake in shares of Alcoa in the fourth quarter valued at $259,273,000. Geode Capital Management LLC boosted its holdings in Alcoa by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,232,766 shares of the industrial products company’s stock valued at $159,966,000 after purchasing an additional 39,022 shares during the period. ARGA Investment Management LP boosted its stake in shares of Alcoa by 29.6% in the 4th quarter. ARGA Investment Management LP now owns 2,998,311 shares of the industrial products company’s stock valued at $113,276,000 after buying an additional 684,505 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Alcoa by 8.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,550,861 shares of the industrial products company’s stock worth $96,372,000 after buying an additional 192,078 shares during the period. Institutional investors and hedge funds own 82.39% of the company’s stock.

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.