Wall Street brokerages expect Kaiser Aluminum Corporation (NASDAQ:KALU) to report earnings per share (EPS) of $1.01 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Kaiser Aluminum Corporation’s earnings. The lowest EPS estimate is $0.89 and the highest is $1.33. Kaiser Aluminum Corporation posted earnings of $1.02 per share in the same quarter last year, which suggests a negative year over year growth rate of 1%. The business is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, July 19th.
On average, analysts expect that Kaiser Aluminum Corporation will report full-year earnings of $4.80 per share for the current fiscal year, with EPS estimates ranging from $4.55 to $5.01. For the next financial year, analysts forecast that the firm will post earnings of $5.63 per share, with EPS estimates ranging from $5.30 to $5.80. Zacks’ earnings per share calculations are an average based on a survey of research firms that follow Kaiser Aluminum Corporation.
Kaiser Aluminum Corporation (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $1.52 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.40. The business had revenue of $355.30 million during the quarter, compared to analysts’ expectations of $353.30 million. Kaiser Aluminum Corporation had a return on equity of 10.73% and a net margin of 7.55%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.51 earnings per share.
Several equities analysts recently weighed in on the company. 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 Kaiser Aluminum Corporation from a “sell” rating to a “hold” rating in a research note on Friday, July 14th. BidaskClub raised Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Cowen and Company raised their price target on Kaiser Aluminum Corporation from $90.00 to $92.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $92.14.
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In other Kaiser Aluminum Corporation news, Director Carolyn Bartholomew sold 1,000 shares of Kaiser Aluminum Corporation stock in a transaction on Monday, July 10th. The shares were sold at an average price of $92.00, for a total value of $92,000.00. Following the sale, the director now directly owns 14,344 shares in the company, valued at approximately $1,319,648. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Neal E. West sold 2,500 shares of Kaiser Aluminum Corporation stock in a transaction on Monday, April 24th. The shares were sold at an average price of $84.54, for a total transaction of $211,350.00. The disclosure for this sale can be found here. Insiders sold 19,377 shares of company stock valued at $1,698,015 in the last three months. Company insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC bought a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at approximately $112,000. SG Americas Securities LLC bought a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at approximately $119,000. Ameritas Investment Partners Inc. bought a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at approximately $122,000. Schroder Investment Management Group bought a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at approximately $214,000. Finally, Two Sigma Securities LLC bought a new stake in shares of Kaiser Aluminum Corporation during the first quarter valued at approximately $217,000. Institutional investors own 98.11% of the company’s stock.
Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) opened at 93.03 on Wednesday. The company’s 50 day moving average price is $87.48 and its 200 day moving average price is $82.03. The stock has a market capitalization of $1.60 billion, a PE ratio of 16.39 and a beta of 0.52. Kaiser Aluminum Corporation has a 12 month low of $69.41 and a 12 month high of $94.07.
Kaiser Aluminum Corporation declared that its board has initiated 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 a sign that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Thursday, July 27th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, July 25th. Kaiser Aluminum Corporation’s payout ratio is presently 35.34%.
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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