Additionally, the company believes global aluminum demand will grow by 6.5 per cent in 2015 and will double during this decade, Kleinfeld said.
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Several other equities analysts have also issued reports on the stock.
The sell-side analysts who offer price objective projections have a one year target of $12.95. No matter how confident long-term investors might be about Alcoa’s future prospects, skeptical shareholders will insist on seeing concrete evidence of the transformation’s benefits before they start bidding up shares substantially from their current beaten-down levels. Alcoa has developed expertise in specialized metals used to make lightweight and high-performance materials – products craved by automakers like Ford (F – Get Report) and General Motors (GM – Get Report), which are always looking for ways to make their cars and trucks more fuel-efficient. (NYSE:AA). Investors must note that the brokerage house has a Buy rating on the shares of the company. 6 analysts rated the company as a strong buy. Citigroup Inc. restated a buy rating and set a $15.00 price target (down previously from $18.00) on shares of Alcoa in a research report on Friday, July 10th. This is reflected in the share of value-added products in Alcoa’s revenues (considering only sales to third parties), which has risen from 54.4% in 2012 to 57.7% in the first half of 2015. The firm has a market cap of $13.46 billion and a P/E ratio of 22.94.
The firm’s 50 day moving average price is $9.40 and its 200-day moving average price is $11.35.
Alcoa shares dipped Thursday after the company posted quarterly earnings well below Wall Street’s expectations. The Zacks survey predicted $5.67 billion and FactSet $5.66 billion. During the same quarter a year ago, the business posted $0.31 EPS. This represents a $0.12 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Wednesday, November 4th.
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(NYSE:AA) a top value style score. Its products, including aluminum, titanium and nickel, are utilized in aircraft, automobiles, commercial transportation, packaging, building and construction, oil and gas, defense, consumer electronics, and industrial applications around the globe. We believe that attention has largely moved away from quarterly results (which will be heavily affected by lower commodity prices) and towards the impending split… The Company has investments and operating activities in Guinea, Brazil, China, Australia, Iceland, Russian Federation and Saudi Arabia, among others.
