Kaiser Aluminum (NASDAQ:KALU) Issues Quarterly Earnings Results

Kaiser Aluminum (NASDAQ:KALU) released its quarterly earnings results on Wednesday. The industrial products company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.58 by $0.44, RTT News reports. The business had revenue of $738.00 million for the quarter, compared to analyst estimates of $733.34 million. Kaiser Aluminum had a net margin of 1.53% and a return on equity of 8.32%. The company’s quarterly revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 earnings per share.

Kaiser Aluminum Stock Down 2.6 %

KALU stock traded down $2.30 during mid-day trading on Wednesday, hitting $87.33. 204,532 shares of the company were exchanged, compared to its average volume of 139,289. The company has a market capitalization of $1.40 billion, a PE ratio of 29.91 and a beta of 1.38. The company has a current ratio of 2.68, a quick ratio of 1.39 and a debt-to-equity ratio of 1.72. Kaiser Aluminum has a twelve month low of $53.67 and a twelve month high of $95.56. The firm has a fifty day simple moving average of $80.56 and a 200 day simple moving average of $69.61.

Kaiser Aluminum Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Thursday, April 25th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date of this dividend is Wednesday, April 24th. Kaiser Aluminum’s dividend payout ratio is presently 105.48%.

Wall Street Analysts Forecast Growth

KALU has been the topic of several research reports. JPMorgan Chase & Co. increased their price target on shares of Kaiser Aluminum from $68.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Benchmark restated a “buy” rating and set a $84.00 target price on shares of Kaiser Aluminum in a research report on Friday, April 19th. Finally, UBS Group initiated coverage on shares of Kaiser Aluminum in a research note on Tuesday, January 16th. They set a “neutral” rating and a $67.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Kaiser Aluminum currently has a consensus rating of “Hold” and a consensus target price of $77.00.

About Kaiser Aluminum

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.