$335.79 Million in Sales Expected for Kaiser Aluminum Corporation (NASDAQ:KALU) This Quarter

Analysts expect Kaiser Aluminum Corporation (NASDAQ:KALU) to post sales of $335.79 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Kaiser Aluminum Corporation’s earnings, with estimates ranging from $334.34 million to $336.64 million. Kaiser Aluminum Corporation reported sales of $320.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The company is scheduled to report its next quarterly earnings report 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 year. For the next year, analysts expect that the business will post 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 an average based on a survey of sell-side research analysts that cover 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 (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.46. The business had revenue of $356 million for the quarter, compared to analysts’ expectations of $349.62 million. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS.

KALU has been the topic of several recent analyst reports. BidaskClub raised Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research raised Kaiser Aluminum Corporation from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, July 28th. Cowen and Company lowered Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and increased their target price for the company from $96.00 to $97.00 in a report 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 report on Monday, July 31st. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $87.00 target price (up previously from $80.00) on shares of Kaiser Aluminum Corporation in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. Kaiser Aluminum Corporation has an average rating of “Hold” and an average price target of $96.13.

Shares of Kaiser Aluminum Corporation (NASDAQ:KALU) traded down 0.37% during mid-day trading on Thursday, reaching $96.23. The company’s stock had a trading volume of 33,776 shares. The stock has a 50 day moving average of $92.40 and a 200-day moving average of $83.90. Kaiser Aluminum Corporation has a one year low of $69.41 and a one year high of $98.72. The stock has a market cap of $1.62 billion, a P/E ratio of 21.14 and a beta of 0.54.

Kaiser Aluminum Corporation declared that its board has initiated a stock repurchase plan on Monday, April 17th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Shareholders of record on Thursday, July 27th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, July 25th. This represents a $2.00 annualized dividend and a yield of 2.07%. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.

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In other news, VP Del L. Miller sold 1,282 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $96.81, for a total transaction of $124,110.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jack A. Hockema sold 9,000 shares of the stock in a transaction dated Monday, July 10th. The stock was 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 sold 13,599 shares of company stock valued at $1,260,787 in the last 90 days. 3.00% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in KALU. BlackRock Inc. increased its stake in shares of Kaiser Aluminum Corporation by 12,449.4% in the first quarter. BlackRock Inc. now owns 2,174,693 shares of the industrial products company’s stock valued at $173,757,000 after buying an additional 2,157,364 shares during the period. Victory Capital Management Inc. increased its stake in shares of Kaiser Aluminum Corporation by 36,359.9% in the first quarter. Victory Capital Management Inc. now owns 498,407 shares of the industrial products company’s stock valued at $39,823,000 after buying an additional 497,040 shares during the period. Aberdeen Asset Management PLC UK increased its stake in shares of Kaiser Aluminum Corporation by 18.2% in the first quarter. Aberdeen Asset Management PLC UK now owns 627,706 shares of the industrial products company’s stock valued at $50,154,000 after buying an additional 96,509 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Kaiser Aluminum Corporation by 414.6% in the second quarter. JPMorgan Chase & Co. now owns 94,571 shares of the industrial products company’s stock valued at $8,371,000 after buying an additional 76,192 shares during the period. Finally, Robecosam AG increased its stake in shares of Kaiser Aluminum Corporation by 150.0% in the first quarter. Robecosam AG now owns 125,000 shares of the industrial products company’s stock valued at $9,900,000 after buying an additional 75,000 shares during the period. Institutional investors and hedge funds own 98.74% 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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Earnings History and Estimates for Kaiser Aluminum Corporation (NASDAQ:KALU)

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