Kaiser Aluminum Corporation (NASDAQ:KALU) will be issuing its quarterly earnings data after the market closes on Wednesday, July 19th. Analysts expect the company to announce earnings of $0.98 per share for the quarter.
Kaiser Aluminum Corporation (NASDAQ:KALU) last announced its quarterly earnings results 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 company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $353.30 million. Kaiser Aluminum Corporation had a net margin of 7.55% and a return on equity of 10.73%. Kaiser Aluminum Corporation’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.51 EPS. On average, analysts expect Kaiser Aluminum Corporation to post $4.86 EPS for the current fiscal year and $5.55 EPS for the next fiscal year.
Shares of Kaiser Aluminum Corporation (NASDAQ KALU) opened at 92.93 on Tuesday. The stock has a market capitalization of $1.60 billion, a PE ratio of 16.38 and a beta of 0.52. Kaiser Aluminum Corporation has a 52 week low of $69.41 and a 52 week high of $94.65. The company’s 50 day moving average is $84.23 and its 200-day moving average is $81.02.
Kaiser Aluminum Corporation declared that its board has initiated a share repurchase program on Monday, April 17th that allows the company to repurchase $100.00 million in outstanding 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 management believes its stock is undervalued.
In other Kaiser Aluminum Corporation news, VP Neal E. West sold 2,500 shares of Kaiser Aluminum Corporation stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $84.54, for a total transaction of $211,350.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jack A. Hockema sold 9,000 shares of Kaiser Aluminum Corporation stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $91.18, for a total transaction of $820,620.00. The disclosure for this sale can be found here. Insiders have sold 19,377 shares of company stock worth $1,698,015 in the last ninety days. Insiders own 3.00% of the company’s stock.
KALU has been the topic of a number of research reports. BidaskClub raised shares of Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research downgraded shares of Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Cowen and Company raised their price objective on shares of Kaiser Aluminum Corporation from $90.00 to $92.00 and gave the stock a “market perform” rating in a report on Wednesday, April 19th. Sidoti raised shares of Kaiser Aluminum Corporation from a “neutral” rating to a “buy” rating and set a $109.00 price objective on the stock in a report on Monday, March 20th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $92.14.
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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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