Kaiser Aluminum Corp. (KALU) Scheduled to Post Quarterly Earnings on Wednesday
Kaiser Aluminum Corp. (NASDAQ:KALU) is scheduled to be announcing its earnings results after the market closes on Wednesday, October 19th. Analysts expect the company to announce earnings of $1.27 per share for the quarter.
Kaiser Aluminum Corp. (NASDAQ:KALU) last issued its earnings results on Wednesday, July 20th. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by $0.36. Kaiser Aluminum Corp. had a return on equity of 9.70% and a net margin of 6.59%. The business earned $335 million during the quarter, compared to the consensus estimate of $351.72 million. During the same period in the prior year, the business earned $1.27 EPS. The business’s revenue was down 8.8% on a year-over-year basis. On average, analysts expect Kaiser Aluminum Corp. to post $5.15 EPS for the current fiscal year and $5.79 EPS for the next fiscal year.
Kaiser Aluminum Corp. (NASDAQ:KALU) opened at 80.98 on Tuesday. Kaiser Aluminum Corp. has a one year low of $70.14 and a one year high of $96.06. The company has a market cap of $1.45 billion, a PE ratio of 16.37 and a beta of 0.47. The firm has a 50-day moving average of $84.63 and a 200-day moving average of $86.37.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, October 25th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $1.80 annualized dividend and a yield of 2.22%. Kaiser Aluminum Corp.’s dividend payout ratio (DPR) is presently 37.42%.
Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. acquired a new stake in shares of Kaiser Aluminum Corp. during the second quarter valued at $5,453,000. Commonwealth Bank of Australia raised its stake in shares of Kaiser Aluminum Corp. by 37.7% in the second quarter. Commonwealth Bank of Australia now owns 30,736 shares of the company’s stock valued at $2,779,000 after buying an additional 8,416 shares during the period. Alliancebernstein L.P. raised its stake in shares of Kaiser Aluminum Corp. by 12.1% in the second quarter. Alliancebernstein L.P. now owns 28,670 shares of the company’s stock valued at $2,592,000 after buying an additional 3,100 shares during the period. Sei Investments Co. raised its stake in shares of Kaiser Aluminum Corp. by 8.9% in the second quarter. Sei Investments Co. now owns 63,846 shares of the company’s stock valued at $5,773,000 after buying an additional 5,203 shares during the period. Finally, American International Group Inc. raised its stake in shares of Kaiser Aluminum Corp. by 1.1% in the second quarter. American International Group Inc. now owns 13,225 shares of the company’s stock valued at $1,196,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 98.64% of the company’s stock.
Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Kaiser Aluminum Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, October 5th. Seaport Global Securities assumed coverage on shares of Kaiser Aluminum Corp. in a report on Friday, September 9th. They issued a “buy” rating and a $100.00 target price on the stock. Macquarie assumed coverage on shares of Kaiser Aluminum Corp. in a report on Tuesday, September 6th. They issued an “outperform” rating on the stock. Credit Suisse Group AG set a $85.00 target price on shares of Kaiser Aluminum Corp. and gave the stock a “hold” rating in a report on Wednesday, July 20th. Finally, Bank of America Corp. downgraded shares of Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $94.00 to $92.00 in a report on Wednesday, July 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Kaiser Aluminum Corp. currently has an average rating of “Hold” and an average target price of $91.71.
About Kaiser Aluminum Corp.
Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products. The Company manufactures aluminum plate and sheet, and extruded and drawn products, primarily used in aerospace/high strength, automotive, general engineering and other industrial end market applications.
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