Kaiser Aluminum (NASDAQ:KALU) Announces Earnings Results

Kaiser Aluminum (NASDAQ:KALU) posted its quarterly earnings data on Wednesday. The industrial products company reported $1.89 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.48), FiscalAI reports. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period in the prior year, the firm posted $1.86 EPS. Kaiser Aluminum’s revenue for the quarter was up 43.9% compared to the same quarter last year.

Kaiser Aluminum Stock Performance

Shares of NASDAQ:KALU opened at $153.95 on Thursday. The company has a current ratio of 2.50, a quick ratio of 1.17 and a debt-to-equity ratio of 1.10. Kaiser Aluminum has a 1-year low of $77.24 and a 1-year high of $199.89. The stock has a market capitalization of $2.52 billion, a P/E ratio of 11.41 and a beta of 1.59. The business has a 50-day moving average price of $156.18 and a two-hundred day moving average price of $165.35.

Kaiser Aluminum Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Kaiser Aluminum from a “buy” rating to a “strong-buy” rating in a research note on Sunday, August 2nd. UBS Group raised shares of Kaiser Aluminum from a “neutral” rating to a “buy” rating and increased their price target for the company from $179.00 to $184.00 in a research note on Monday, August 31st. Wells Fargo & Company raised shares of Kaiser Aluminum from an “underweight” rating to an “equal weight” rating and lowered their price target for the company from $169.00 to $160.00 in a report on Friday, September 18th. Weiss Ratings lowered shares of Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 2nd. Finally, Zacks Research cut shares of Kaiser Aluminum from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 25th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company 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.