Kaiser Aluminum (NASDAQ:KALU) Issues Quarterly Earnings Results, Misses Expectations By $0.48 EPS

Key Points

• Kaiser Aluminum reported quarterly EPS of $1.89, missing the $2.37 consensus estimate by $0.48, while revenue of $1.21 billion matched expectations.
• The company declared a quarterly dividend of $0.77 per share, equivalent to $3.08 annually and a 2.0% yield; its payout ratio is 22.83%.
• Analyst sentiment is mixed, with four Buy, two Hold, and one Sell rating, resulting in a consensus “Hold” rating and an average price target of $169.40.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) posted its earnings results on Wednesday. The industrial products company reported $1.89 earnings per share for the quarter, missing the consensus estimate of $2.37 by ($0.48), FiscalAI reports. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. Kaiser Aluminum had a return on equity of 24.71% and a net margin of 5.49%.

Kaiser Aluminum Stock Performance

NASDAQ KALU traded up $1.41 on Wednesday, reaching $153.95. The stock had a trading volume of 354,365 shares, compared to its average volume of 243,587. The stock has a market cap of $2.52 billion, a P/E ratio of 11.41 and a beta of 1.59. Kaiser Aluminum has a 12-month low of $77.24 and a 12-month high of $199.89. The business's 50-day moving average price is $156.89 and its 200 day moving average price is $165.19. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.17 and a current ratio of 2.50.

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 paid a $0.77 dividend. The ex-dividend date is Friday, October 23rd. This represents a $3.08 dividend on an annualized basis and a yield of 2.0%. Kaiser Aluminum's payout ratio is currently 22.83%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Wells Fargo & Company raised shares of Kaiser Aluminum from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $169.00 to $160.00 in a report on Friday, September 18th. UBS Group upgraded shares of Kaiser Aluminum from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $179.00 to $184.00 in a research report on Monday, August 31st. KeyCorp lowered their target price on shares of Kaiser Aluminum from $183.00 to $181.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Weiss Ratings downgraded shares of Kaiser Aluminum from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, September 2nd. Finally, Wall Street Zen raised shares of Kaiser Aluminum from a "buy" rating to a "strong-buy" rating in a research report on Sunday, August 2nd. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Kaiser Aluminum presently has an average rating of "Hold" and a consensus 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.

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