Wall Street brokerages expect that Kaiser Aluminum Corp. (NASDAQ:KALU) will report $393.60 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Kaiser Aluminum’s earnings. The lowest sales estimate is $374.20 million and the highest is $408.30 million. Kaiser Aluminum reported sales of $355.30 million in the same quarter last year, which indicates a positive year over year growth rate of 10.8%. The business is expected to report its next earnings report on Wednesday, April 18th.
According to Zacks, analysts expect that Kaiser Aluminum will report full year sales of $393.60 million for the current year, with estimates ranging from $1.49 billion to $1.56 billion. For the next financial year, analysts forecast that the business will post sales of $1.60 billion per share, with estimates ranging from $1.56 billion to $1.62 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Kaiser Aluminum.
Kaiser Aluminum (NASDAQ:KALU) last announced its earnings results on Wednesday, February 21st. The industrial products company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.04). The business had revenue of $353.00 million during the quarter, compared to the consensus estimate of $348.95 million. Kaiser Aluminum had a return on equity of 11.35% and a net margin of 3.25%. Kaiser Aluminum’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share.
Several equities analysts have recently commented on the company. ValuEngine upgraded Kaiser Aluminum from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Zacks Investment Research upgraded Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research report on Thursday, March 1st. Deutsche Bank reduced their price objective on Kaiser Aluminum from $107.00 to $103.00 and set a “hold” rating on the stock in a research report on Tuesday, February 27th. BidaskClub lowered Kaiser Aluminum from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. Finally, Cowen reiterated a “hold” rating and set a $107.00 price objective on shares of Kaiser Aluminum in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $103.43.
In related news, CEO Jack A. Hockema sold 9,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $104.01, for a total transaction of $936,090.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Keith Harvey sold 6,608 shares of the firm’s stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $107.06, for a total value of $707,452.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,391 shares of company stock worth $2,370,002. 3.00% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of KALU. NEXT Financial Group Inc purchased a new stake in Kaiser Aluminum in the 3rd quarter worth approximately $124,000. Invictus RG lifted its holdings in Kaiser Aluminum by 140.9% in the 3rd quarter. Invictus RG now owns 1,679 shares of the industrial products company’s stock worth $173,000 after buying an additional 982 shares during the period. First Interstate Bank purchased a new stake in Kaiser Aluminum in the 4th quarter worth approximately $182,000. We Are One Seven LLC purchased a new stake in Kaiser Aluminum in the 4th quarter worth approximately $192,000. Finally, Elkfork Partners LLC purchased a new stake in Kaiser Aluminum in the 4th quarter worth approximately $245,000.
Shares of Kaiser Aluminum (NASDAQ:KALU) traded up $2.46 during trading on Tuesday, hitting $105.79. The stock had a trading volume of 254,013 shares, compared to its average volume of 121,903. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.79 and a quick ratio of 2.59. The company has a market cap of $1,762.75, a price-to-earnings ratio of 20.58, a PEG ratio of 1.09 and a beta of 0.63. Kaiser Aluminum has a 12-month low of $76.73 and a 12-month high of $116.86.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Friday, January 26th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.08%. This is a positive change from Kaiser Aluminum’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, January 25th. Kaiser Aluminum’s dividend payout ratio (DPR) is presently 85.60%.
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About Kaiser Aluminum
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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