Kaiser Aluminum (NASDAQ:KALU) Releases Earnings Results

Kaiser Aluminum (NASDAQ:KALU) announced its quarterly earnings data on Wednesday. The industrial products company reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.48), FiscalAI reports. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Kaiser Aluminum had a net margin of 5.49% and a return on equity of 24.71%.

Kaiser Aluminum Stock Performance

Shares of KALU stock traded up $1.41 during trading hours on Wednesday, hitting $153.95. The stock had a trading volume of 354,418 shares, compared to its average volume of 243,609. The firm has a market capitalization of $2.52 billion, a PE ratio of 11.41 and a beta of 1.59. Kaiser Aluminum has a twelve month low of $77.24 and a twelve month high of $199.89. The stock’s 50 day moving average is $156.89 and its 200 day moving average is $165.19. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.50 and a quick ratio of 1.17.

Kaiser Aluminum Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, October 23rd. Kaiser Aluminum’s payout ratio is presently 22.83%.

Analyst Ratings Changes

KALU has been the topic of several recent analyst reports. UBS Group raised Kaiser Aluminum from a “neutral” rating to a “buy” rating and increased their target price for the company from $179.00 to $184.00 in a report on Monday, August 31st. Barclays began coverage on Kaiser Aluminum in a report on Wednesday, October 14th. They set an “overweight” rating and a $180.00 price target for the company. KeyCorp lowered their price objective on Kaiser Aluminum from $183.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Zacks Research downgraded Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a report on Friday, September 25th. Finally, Weiss Ratings downgraded Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $169.40.

About Kaiser Aluminum

Kaiser Aluminum Corporation is a producer of semi-fabricated aluminum products used by manufacturers in the aerospace and defense, automotive, industrial, and consumer products markets. The company supplies aluminum materials designed for applications that require strength, light weight, corrosion resistance, and other specialized performance characteristics.

Its product portfolio includes rolled aluminum sheet and plate, extruded products, forged components, and other fabricated aluminum products.