Zacks: Brokerages Expect Kaiser Aluminum Corp. (NASDAQ:KALU) Will Post Quarterly Sales of $396.32 Million

Equities analysts expect Kaiser Aluminum Corp. (NASDAQ:KALU) to post sales of $396.32 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Kaiser Aluminum’s earnings, with the lowest sales estimate coming in at $385.20 million and the highest estimate coming in at $414.00 million. Kaiser Aluminum reported sales of $393.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 0.8%. The firm is scheduled to report its next earnings report on Wednesday, October 16th.

On average, analysts expect that Kaiser Aluminum will report full year sales of $1.57 billion for the current year, with estimates ranging from $1.55 billion to $1.61 billion. For the next year, analysts expect that the company will post sales of $1.66 billion, with estimates ranging from $1.58 billion to $1.74 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Kaiser Aluminum.

Kaiser Aluminum (NASDAQ:KALU) last posted its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.07. Kaiser Aluminum had a return on equity of 14.23% and a net margin of 5.96%. The company had revenue of $375.00 million during the quarter, compared to analysts’ expectations of $388.25 million. During the same period last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis.

A number of analysts have weighed in on the company. BidaskClub raised Kaiser Aluminum from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Goldman Sachs Group raised Kaiser Aluminum from a “sell” rating to a “neutral” rating and set a $97.00 price objective for the company in a research report on Thursday, August 8th. Zacks Investment Research raised Kaiser Aluminum from a “hold” rating to a “buy” rating and set a $102.00 price objective for the company in a research report on Tuesday. Finally, ValuEngine cut Kaiser Aluminum from a “hold” rating to a “sell” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Kaiser Aluminum currently has a consensus rating of “Hold” and an average target price of $107.33.

In other news, COO Keith Harvey sold 500 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $90.00, for a total value of $45,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Neal E. West sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $100.00, for a total value of $75,000.00. The disclosure for this sale can be found here. Insiders sold a total of 24,050 shares of company stock valued at $2,333,191 over the last three months. Insiders own 1.70% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of KALU. Verition Fund Management LLC acquired a new stake in shares of Kaiser Aluminum during the second quarter worth $1,408,000. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Kaiser Aluminum by 11.0% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 352,303 shares of the industrial products company’s stock worth $44,047,000 after purchasing an additional 34,969 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in shares of Kaiser Aluminum by 284.8% during the second quarter. Susquehanna International Group LLP now owns 20,323 shares of the industrial products company’s stock worth $1,984,000 after purchasing an additional 31,323 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Kaiser Aluminum during the second quarter worth $15,993,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Kaiser Aluminum by 4.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 9,519 shares of the industrial products company’s stock worth $929,000 after purchasing an additional 370 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Kaiser Aluminum stock traded down $0.44 during mid-day trading on Monday, reaching $90.33. 26,120 shares of the company were exchanged, compared to its average volume of 140,727. Kaiser Aluminum has a twelve month low of $83.29 and a twelve month high of $114.99. The firm’s 50-day simple moving average is $94.18 and its two-hundred day simple moving average is $98.77. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.34 and a current ratio of 3.63. The firm has a market cap of $1.48 billion, a PE ratio of 13.96 and a beta of 1.05.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 25th were issued a $0.60 dividend. The ex-dividend date of this dividend was Wednesday, July 24th. This represents a $2.40 annualized dividend and a dividend yield of 2.66%. Kaiser Aluminum’s dividend payout ratio is currently 37.09%.

About Kaiser Aluminum

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The company offers rolled, extruded, and drawn aluminum products used principally for aerospace and defense, automotive, consumer durables, electronics, electrical, and machinery and equipment applications.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

Get a free copy of the Zacks research report on Kaiser Aluminum (KALU)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Kaiser Aluminum (NASDAQ:KALU)

Receive News & Ratings for Kaiser Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kaiser Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.