Kaiser Aluminum Corporation (KALU) Releases Earnings Results, Misses Estimates By $0.19 EPS
Kaiser Aluminum Corporation (NASDAQ:KALU) released its quarterly earnings results on Wednesday. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.09 by ($0.19), Bloomberg Earnings reports. The firm had revenue of $332.80 million during the quarter, compared to analysts’ expectations of $335.37 million. Kaiser Aluminum Corporation had a return on equity of 11.71% and a net margin of 5.87%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.02 earnings per share.
Shares of Kaiser Aluminum Corporation (KALU) opened at 104.26 on Thursday. The company has a market capitalization of $1.76 billion, a PE ratio of 22.90 and a beta of 0.54. The firm’s 50-day moving average price is $101.51 and its 200-day moving average price is $91.12. Kaiser Aluminum Corporation has a 12-month low of $69.41 and a 12-month high of $108.99.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, October 24th. This represents a $2.00 dividend on an annualized basis and a yield of 1.92%. Kaiser Aluminum Corporation’s dividend payout ratio is presently 44.44%.
In other news, Director Alfred E. Osborne, Jr. sold 2,000 shares of the stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $94.56, for a total transaction of $189,120.00. Following the sale, the director now directly owns 15,622 shares of the company’s stock, valued at approximately $1,477,216.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jack A. Hockema sold 5,982 shares of the stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $102.66, for a total transaction of $614,112.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,696 shares of company stock worth $2,662,349. Corporate insiders own 3.00% of the company’s stock.
KALU has been the topic of a number of recent research reports. Deutsche Bank AG reaffirmed a “buy” rating on shares of Kaiser Aluminum Corporation in a report on Saturday, June 24th. Cowen and Company cut Kaiser Aluminum Corporation from an “outperform” rating to a “market perform” rating and raised 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. Zacks Investment Research cut Kaiser Aluminum Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, BidaskClub cut Kaiser Aluminum Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $97.57.
ILLEGAL ACTIVITY WARNING: “Kaiser Aluminum Corporation (KALU) Releases Earnings Results, Misses Estimates By $0.19 EPS” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and republished in violation of U.S. and international trademark & copyright laws. The correct version of this report can be read at https://www.thecerbatgem.com/2017/10/18/kaiser-aluminum-corporation-kalu-issues-earnings-results.html.
Kaiser Aluminum Corporation Company Profile
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.
Receive News & Stock Ratings for Kaiser Aluminum Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaiser Aluminum Corporation and related stocks with our FREE daily email newsletter.