Fintel reports that on May 11, 2023, Credit Suisse upgraded their outlook for Alcoa (NYSE:AA) from Neutral to Outperform .
Analyst Price Forecast Suggests 38.96% Upside
As of May 11, 2023, the average one-year price target for Alcoa is 50.22. The forecasts range from a low of 37.37 to a high of $68.25. The average price target represents an increase of 38.96% from its latest reported closing price of 36.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Alcoa is 12,227MM, an increase of 3.37%. The projected annual non-GAAP EPS is 3.60.
Alcoa Declares $0.10 Dividend
On May 4, 2023 the company declared a regular quarterly dividend of $0.10 per share ($0.40 annualized). Shareholders of record as of May 16, 2023 will receive the payment on June 2, 2023. Previously, the company paid $0.10 per share.
At the current share price of $36.14 / share, the stock's dividend yield is 1.11%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.62%, the lowest has been 0.43%, and the highest has been 7.05%. The standard deviation of yields is 1.17 (n=237).
The current dividend yield is 0.44 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is -0.09. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 1047 funds or institutions reporting positions in Alcoa. This is a decrease of 4 owner(s) or 0.38% in the last quarter. Average portfolio weight of all funds dedicated to AA is 0.22%, an increase of 22.21%. Total shares owned by institutions increased in the last three months by 6.83% to 175,774K shares. 
The put/call ratio of AA is 1.21, indicating a bearish outlook.
What are Other Shareholders Doing?
Bank of New York Mellon holds 10,299K shares representing 5.77% ownership of the company. In it's prior filing, the firm reported owning 5,974K shares, representing an increase of 42.00%. The firm decreased its portfolio allocation in AA by 82.21% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 5,464K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 5,258K shares, representing an increase of 3.77%. The firm increased its portfolio allocation in AA by 22.53% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,375K shares representing 3.01% ownership of the company. In it's prior filing, the firm reported owning 5,357K shares, representing an increase of 0.34%. The firm increased its portfolio allocation in AA by 25.18% over the last quarter.
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main holds 4,578K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 95K shares, representing an increase of 97.93%. The firm increased its portfolio allocation in AA by 5,918.07% over the last quarter.
NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 4,558K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 4,568K shares, representing a decrease of 0.21%. The firm increased its portfolio allocation in AA by 24.79% over the last quarter.
Alcoa Background Information
(This description is provided by the company.)
Alcoa is a global industry leader in bauxite, alumina, and aluminum products, and is built on a foundation of strong values and operating excellence dating back more than 130 years to the world-changing discovery that made aluminum an affordable and vital part of modern life. Since developing the aluminum industry, and throughout our history, our talented Alcoans have followed on with breakthrough innovations and best practices that have led to efficiency, safety, sustainability, and stronger communities wherever we operate.
See all Alcoa regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
