Below are the dividend stocks that were subject to analyst moves before the bell. Analysts weigh in with insight and commentary as to what you can expect going forward.
1. Alcoa Upgraded by UBS
Aluminium miner Alcoa (AA ) saw its stock upgraded to Buy from Neutral on Tuesday, with UBS setting a new price target of $14. Although missing earnings estimates in early June, the company cited better long-term growth prospects. Alcoa reported an EPS of 19 cents on revenue of $5.9 billion. Finishing Monday’s session at $9.64 (down 2.3%), Alcoa’s adjusted dividend yield is 1.24%, with an annual payout of $0.12 (paid quarterly). The stock is 45.69% from its 52-week high.
2. First Energy Upgraded by RBC Capital
First Energy (FE ), the electrical utilities provider, was upgraded by RBC Capital on Tuesday, with the broker putting the stock on their Outperform list. Their new price target is $40. The company posted strong earnings recently, with net income rising to $187 million. This equated to 44 cents per share. Finishing Monday’s session at $34.43 (up 1.4%), First Energy’s adjusted dividend yield is 4.18%, with an annual payout of $1.44 (paid quarterly). The stock is 17.39% from its 52-week high.
3. DSW Upgraded by KeyBanc
Apparel store owner DSW Inc. (DSW) was upgraded by KeyBanc on Tuesday, with an Overweight rating and a new price target of $39 added. Finishing Monday’s session at $32.16 (down 1.1%), DSW’s adjusted dividend yield is 2.49%, with an annual payout of $0.80 (paid quarterly). The stock is 18.75% from its 52-week high.
4. Allstate Downgraded by Goldman Sachs
Allstate (ALL ) saw its stock downgraded pre-market, with Goldman Sachs shifting their rating to Neutral. No price target was supplied. The company is a property and casualty insurer. Finishing Monday’s session at $69.38 (up 0.6%), Allstate’s adjusted dividend yield is 1.73%, with an annual payout of $1.20 (paid quarterly). The stock is 4.79% from its 52-week high.
5. Arch Coal Downgraded by Cowen & Company
Basic materials company Arch Coal (ACI ) was downgraded to Market Perform by Cowen & Company on Monday. No price was target supplied. President Obama confirmed yesterday that a new clean power initiative would be implemented to reduce carbon dioxide emissions. This would directly affect Arch Coal and the industry. Finishing Monday’s session at $0.18, Arch Coal suspended their dividend in February. The stock is 94.63% from its 52-week high.
