Kaiser Aluminum (NASDAQ:KALU) Announces Earnings Results

Kaiser Aluminum (NASDAQ:KALU) announced its earnings results 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 net margin of 5.49% and a return on equity of 24.71%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion.

Kaiser Aluminum Stock Performance

Shares of Kaiser Aluminum stock traded up $1.41 on Wednesday, reaching $153.95. 354,365 shares of the stock were exchanged, compared to its average volume of 243,587. 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 1-year low of $77.24 and a 1-year high of $199.89. The business has a fifty day moving average price of $156.89 and a two-hundred day moving average price of $165.19. 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 Announces Dividend

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

Analyst Ratings Changes

KALU has been the subject of several recent research reports. Weiss Ratings downgraded shares of Kaiser Aluminum from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, September 2nd. KeyCorp dropped their price target on Kaiser Aluminum from $183.00 to $181.00 and set an “overweight” rating on the stock in a research report on Thursday, October 8th. Wells Fargo & Company raised Kaiser Aluminum from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $169.00 to $160.00 in a research note on Friday, September 18th. UBS Group raised Kaiser Aluminum from a “neutral” rating to a “buy” rating and upped their price objective for the company from $179.00 to $184.00 in a research note on Monday, August 31st. Finally, Zacks Research cut 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 issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $169.40.

Kaiser Aluminum Company Profile

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.