Kaiser Aluminum rating lowered to Neutral

Kaiser Aluminum Corp. was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research note issued on Thursday, StockRatingsNetwork.com reports. They currently have a $68.80 target price on the stock. Zacks‘ price objective would indicate a potential upside of 5.44% from the company’s current price.

Separately, analysts at Cowen and Company raised their price target on shares of Kaiser Aluminum Corp. from $76.00 to $80.00 in a research note to investors on Friday, July 26th. They now have an “outperform” rating on the stock.

Shares of Kaiser Aluminum Corp. traded up 1.29% during mid-day trading on Thursday, hitting $66.09. Kaiser Aluminum Corp. has a 52 week low of $53.27 and a 52 week high of $67.04. The stock’s 50-day moving average is currently $63.86. The company has a market cap of $1.239 billion and a P/E ratio of 13.95.

Kaiser Aluminum Corp. last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.91 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.94 by $0.03. The company had revenue of $328.90 million for the quarter, compared to the consensus estimate of $352.60 million. During the same quarter in the prior year, the company posted $1.06 earnings per share. The company’s quarterly revenue was down 4.7% on a year-over-year basis. On average, analysts predict that Kaiser Aluminum Corp. will post $3.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 15th. Shareholders of record on Thursday, July 25th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Tuesday, July 23rd.

Kaiser Aluminum Corporation is engaged in the production of semi-fabricated specialty aluminum products.