Alcoa Co. (NYSE:AA) to Issue Quarterly Dividend of $0.10

Alcoa Co. (NYSE:AA) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.10 per share by the industrial products company on Thursday, March 20th. This represents a $0.40 annualized dividend and a yield of 1.07%.

Alcoa has raised its dividend by an average of 58.7% per year over the last three years. Alcoa has a payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Research 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 $37.26 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.45 and a debt-to-equity ratio of 0.48. Alcoa has a 12-month low of $24.86 and a 12-month high of $47.77. The business has a fifty day simple moving average of $37.02 and a 200 day simple moving average of $37.76.

Alcoa (NYSE:AA) last posted its quarterly earnings data on Wednesday, January 22nd. The industrial products company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. Alcoa had a return on equity of 5.54% and a net margin of 0.50%. On average, equities research analysts predict that Alcoa will post 4.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AA shares. Jefferies Financial Group lowered their price objective on Alcoa from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Bank of America lifted their price objective on Alcoa to $58.00 and gave the stock a “buy” rating in a research report on Friday, January 24th. Morgan Stanley lowered their price objective on Alcoa from $55.00 to $51.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on Alcoa from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Finally, B. Riley raised Alcoa to a “strong-buy” rating in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alcoa presently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

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.