Kaiser Aluminum Corporation (KALU) Expected to Post Quarterly Sales of $335.79 Million
Equities research analysts forecast that Kaiser Aluminum Corporation (NASDAQ:KALU) will announce $335.79 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Kaiser Aluminum Corporation’s earnings. The lowest sales estimate is $334.34 million and the highest is $336.64 million. Kaiser Aluminum Corporation reported sales of $320.60 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.7%. The business is expected to report its next earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that Kaiser Aluminum Corporation will report full-year sales of $335.79 million for the current financial year. For the next financial year, analysts forecast that the company will report sales of $1.44 billion per share, with estimates ranging from $1.39 billion to $1.46 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Kaiser Aluminum Corporation.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its earnings results on Wednesday, July 19th. The industrial products company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.46. The firm had revenue of $356.00 million for the quarter, compared to analyst estimates of $349.62 million. Kaiser Aluminum Corporation had a net margin of 5.87% and a return on equity of 11.71%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.02 EPS.
Several research analysts recently commented on KALU shares. BidaskClub downgraded shares of Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 9th. Deutsche Bank AG reaffirmed a “buy” rating on shares of Kaiser Aluminum Corporation in a research note on Saturday, June 24th. Zacks Investment Research raised shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Friday, July 28th. Morgan Stanley reiterated an “equal weight” rating and set a $87.00 target price (up from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. Finally, Cowen and Company cut shares of Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $96.00 to $97.00 in a report on Monday, August 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $95.57.
Shares of Kaiser Aluminum Corporation (NASDAQ KALU) traded up 0.46% during midday trading on Friday, hitting $96.37. 269,662 shares of the stock were exchanged. The firm has a 50 day moving average of $96.36 and a 200-day moving average of $86.88. Kaiser Aluminum Corporation has a 12 month low of $69.41 and a 12 month high of $99.70. The stock has a market cap of $1.62 billion, a P/E ratio of 21.17 and a beta of 0.54.
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In other news, CEO Jack A. Hockema sold 9,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $91.18, for a total value of $820,620.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carolyn Bartholomew sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were 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 in the company, valued at $1,319,648. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,714 shares of company stock worth $2,036,826. 3.00% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in KALU. Teachers Advisors LLC boosted its holdings in shares of Kaiser Aluminum Corporation by 2.1% in the 4th quarter. Teachers Advisors LLC now owns 29,262 shares of the industrial products company’s stock valued at $2,273,000 after buying an additional 613 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Kaiser Aluminum Corporation by 4.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 24,761 shares of the industrial products company’s stock valued at $1,977,000 after buying an additional 1,143 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Kaiser Aluminum Corporation by 69.3% in the 1st quarter. First Trust Advisors LP now owns 30,799 shares of the industrial products company’s stock valued at $2,461,000 after buying an additional 12,610 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Kaiser Aluminum Corporation by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 338,868 shares of the industrial products company’s stock valued at $27,075,000 after buying an additional 5,069 shares in the last quarter. Finally, Comerica Bank boosted its holdings in shares of Kaiser Aluminum Corporation by 1.6% in the 1st quarter. Comerica Bank now owns 19,420 shares of the industrial products company’s stock valued at $1,642,000 after buying an additional 313 shares in the last quarter. Institutional investors and hedge funds own 98.04% of the company’s stock.
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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