Kaiser Aluminum Corporation (KALU) Expected to Post Earnings of $1.11 Per Share
Equities analysts predict that Kaiser Aluminum Corporation (NASDAQ:KALU) will announce earnings of $1.11 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Kaiser Aluminum Corporation’s earnings. The highest EPS estimate is $1.34 and the lowest is $1.00. Kaiser Aluminum Corporation posted earnings of $1.02 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.8%. The firm is expected to report its next quarterly earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Kaiser Aluminum Corporation will report full-year earnings of $5.45 per share for the current financial year, with EPS estimates ranging from $5.23 to $6.00. For the next year, analysts anticipate that the business will post earnings of $5.86 per share, with EPS estimates ranging from $5.57 to $6.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Kaiser Aluminum Corporation.
Kaiser Aluminum Corporation (NASDAQ:KALU) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.46. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The business had revenue of $356 million during the quarter, compared to the consensus estimate of $349.62 million. During the same period last year, the company earned $1.02 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis.
Several equities analysts recently commented on the company. BidaskClub upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, July 28th. Cowen and Company lowered Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $96.00 to $97.00 in a research note on Monday. They noted that the move was a valuation call. Deutsche Bank AG set a $100.00 target price on Kaiser Aluminum Corporation and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $87.00 target price (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Kaiser Aluminum Corporation presently has a consensus rating of “Buy” and an average target price of $96.13.
In related news, Director Carolyn Bartholomew sold 1,000 shares of Kaiser Aluminum Corporation stock in a transaction on Monday, July 10th. The stock was sold at an average price of $92.00, for a total transaction of $92,000.00. Following the completion of the sale, the director now owns 14,344 shares of the company’s stock, valued at $1,319,648. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Ray Parkinson sold 2,000 shares of Kaiser Aluminum Corporation stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $80.75, for a total value of $161,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,782 shares of company stock valued at $1,342,980. 3.00% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC bought a new position in Kaiser Aluminum Corporation during the first quarter valued at $112,000. SG Americas Securities LLC acquired a new position in Kaiser Aluminum Corporation during the first quarter worth approximately $119,000. Ameritas Investment Partners Inc. acquired a new position in Kaiser Aluminum Corporation during the first quarter worth approximately $122,000. First Mercantile Trust Co. raised its position in Kaiser Aluminum Corporation by 1.4% in the second quarter. First Mercantile Trust Co. now owns 1,430 shares of the industrial products company’s stock worth $127,000 after buying an additional 20 shares during the last quarter. Finally, KBC Group NV acquired a new position in Kaiser Aluminum Corporation during the second quarter worth approximately $188,000. 98.74% of the stock is owned by hedge funds and other institutional investors.
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Shares of Kaiser Aluminum Corporation (NASDAQ KALU) opened at 95.69 on Tuesday. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $98.72. The firm has a 50 day moving average price of $90.65 and a 200-day moving average price of $83.23. The firm has a market capitalization of $1.61 billion, a P/E ratio of 21.02 and a beta of 0.54.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Thursday, July 27th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Tuesday, July 25th. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.
Kaiser Aluminum Corporation announced that its Board of Directors has approved a stock buyback program on Monday, April 17th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
About Kaiser Aluminum Corporation
Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company’s Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications.
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