Kaiser Aluminum Corp. (KALU) Posts Earnings Results, Misses Expectations By $0.25 EPS

Kaiser Aluminum Corp. (NASDAQ:KALU) posted its quarterly earnings data on Wednesday. The company reported $1.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by $0.25. Kaiser Aluminum Corp. had a net margin of 6.59% and a return on equity of 9.70%. The company had revenue of $321 million for the quarter, compared to analyst estimates of $333.46 million. During the same quarter last year, the company earned $1.07 EPS. The business’s revenue was down 4.5% compared to the same quarter last year.

Kaiser Aluminum Corp. (NASDAQ:KALU) traded down 3.19% during midday trading on Wednesday, reaching $78.88. The company’s stock had a trading volume of 337,347 shares. The stock has a market cap of $1.41 billion, a P/E ratio of 15.95 and a beta of 0.47. Kaiser Aluminum Corp. has a 12-month low of $70.14 and a 12-month high of $96.06. The stock’s 50 day moving average is $84.53 and its 200 day moving average is $86.35.

Earnings History for Kaiser Aluminum Corp. (NASDAQ:KALU)

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, October 25th will be given a $0.45 dividend. The ex-dividend date is Friday, October 21st. This represents a $1.80 annualized dividend and a yield of 2.28%. Kaiser Aluminum Corp.’s dividend payout ratio is presently 37.42%.

Several research firms have recently issued reports on KALU. Zacks Investment Research downgraded shares of Kaiser Aluminum Corp. from a “buy” rating to a “hold” rating in a report on Monday, July 18th. Bank of America Corp. downgraded shares of Kaiser Aluminum Corp. from a “buy” rating to a “neutral” rating and cut their price target for the stock from $94.00 to $92.00 in a report on Wednesday, July 20th. Seaport Global Securities initiated coverage on shares of Kaiser Aluminum Corp. in a report on Friday, September 9th. They issued a “buy” rating and a $100.00 price target on the stock. Macquarie initiated coverage on shares of Kaiser Aluminum Corp. in a report on Tuesday, September 6th. They issued an “outperform” rating on the stock. Finally, Credit Suisse Group AG set a $85.00 price target on shares of Kaiser Aluminum Corp. and gave the stock a “hold” rating in a report on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $91.71.

A number of large investors have recently bought and sold shares of KALU. State of Tennessee Treasury Department boosted its stake in Kaiser Aluminum Corp. by 4.0% in the second quarter. State of Tennessee Treasury Department now owns 14,376 shares of the company’s stock valued at $1,300,000 after buying an additional 550 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in Kaiser Aluminum Corp. by 3.2% in the second quarter. Thrivent Financial for Lutherans now owns 8,681 shares of the company’s stock valued at $785,000 after buying an additional 270 shares during the last quarter. ProShare Advisors LLC boosted its stake in Kaiser Aluminum Corp. by 2.3% in the second quarter. ProShare Advisors LLC now owns 2,568 shares of the company’s stock valued at $232,000 after buying an additional 57 shares during the last quarter. Profund Advisors LLC boosted its stake in Kaiser Aluminum Corp. by 1.5% in the second quarter. Profund Advisors LLC now owns 3,137 shares of the company’s stock valued at $284,000 after buying an additional 47 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in Kaiser Aluminum Corp. during the second quarter valued at $289,000. Hedge funds and other institutional investors own 98.64% of the company’s stock.

Kaiser Aluminum Corp. Company Profile

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.

5 Day Chart for NASDAQ:KALU

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