Intrinsic value of Kaiser Aluminum - KALU

Previous Close

$106.82

  Intrinsic Value

$89.20

stock screener

  Rating & Target

hold

-16%

Previous close

$106.82

 
Intrinsic value

$89.20

 
Up/down potential

-16%

 
Rating

hold

We calculate the intrinsic value of KALU stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.8

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
  5.00
Revenue, $m
  1,468
  1,541
  1,618
  1,699
  1,784
  1,873
  1,967
  2,065
  2,169
  2,277
  2,391
  2,511
  2,636
  2,768
  2,906
  3,052
  3,204
  3,364
  3,533
  3,709
  3,895
  4,090
  4,294
  4,509
  4,734
  4,971
  5,219
  5,480
  5,754
  6,042
Variable operating expenses, $m
  1,272
  1,336
  1,402
  1,472
  1,546
  1,623
  1,704
  1,789
  1,878
  1,972
  2,066
  2,169
  2,277
  2,391
  2,511
  2,636
  2,768
  2,906
  3,052
  3,204
  3,365
  3,533
  3,709
  3,895
  4,090
  4,294
  4,509
  4,734
  4,971
  5,219
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,272
  1,336
  1,402
  1,472
  1,546
  1,623
  1,704
  1,789
  1,878
  1,972
  2,066
  2,169
  2,277
  2,391
  2,511
  2,636
  2,768
  2,906
  3,052
  3,204
  3,365
  3,533
  3,709
  3,895
  4,090
  4,294
  4,509
  4,734
  4,971
  5,219
Operating income, $m
  195
  205
  216
  227
  239
  251
  263
  277
  291
  306
  326
  342
  359
  377
  396
  415
  436
  458
  481
  505
  530
  557
  585
  614
  645
  677
  711
  746
  783
  823
EBITDA, $m
  263
  277
  290
  305
  320
  336
  353
  371
  389
  409
  429
  451
  473
  497
  522
  548
  575
  604
  634
  666
  699
  734
  771
  809
  850
  892
  937
  983
  1,033
  1,084
Interest expense (income), $m
  18
  22
  24
  26
  28
  30
  33
  35
  38
  41
  43
  46
  49
  53
  56
  60
  64
  68
  72
  76
  81
  86
  91
  96
  102
  108
  114
  120
  127
  134
  142
Earnings before tax, $m
  173
  181
  190
  199
  208
  218
  228
  239
  250
  262
  279
  292
  306
  321
  336
  352
  369
  386
  405
  424
  445
  466
  489
  512
  537
  563
  590
  619
  649
  681
Tax expense, $m
  47
  49
  51
  54
  56
  59
  62
  65
  68
  71
  75
  79
  83
  87
  91
  95
  100
  104
  109
  115
  120
  126
  132
  138
  145
  152
  159
  167
  175
  184
Net income, $m
  126
  132
  139
  145
  152
  159
  167
  174
  183
  191
  204
  213
  224
  234
  245
  257
  269
  282
  296
  310
  325
  340
  357
  374
  392
  411
  431
  452
  474
  497

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,390
  1,460
  1,533
  1,609
  1,690
  1,774
  1,863
  1,956
  2,054
  2,156
  2,264
  2,377
  2,496
  2,621
  2,752
  2,890
  3,034
  3,186
  3,345
  3,513
  3,688
  3,873
  4,066
  4,270
  4,483
  4,707
  4,943
  5,190
  5,449
  5,722
Adjusted assets (=assets-cash), $m
  1,390
  1,460
  1,533
  1,609
  1,690
  1,774
  1,863
  1,956
  2,054
  2,156
  2,264
  2,377
  2,496
  2,621
  2,752
  2,890
  3,034
  3,186
  3,345
  3,513
  3,688
  3,873
  4,066
  4,270
  4,483
  4,707
  4,943
  5,190
  5,449
  5,722
Revenue / Adjusted assets
  1.056
  1.055
  1.055
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
  1.056
Average production assets, $m
  636
  667
  701
  736
  773
  811
  852
  894
  939
  986
  1,035
  1,087
  1,141
  1,199
  1,258
  1,321
  1,387
  1,457
  1,530
  1,606
  1,686
  1,771
  1,859
  1,952
  2,050
  2,152
  2,260
  2,373
  2,492
  2,616
Working capital, $m
  123
  129
  136
  143
  150
  157
  165
  174
  182
  191
  201
  211
  221
  233
  244
  256
  269
  283
  297
  312
  327
  344
  361
  379
  398
  418
  438
  460
  483
  508
Total debt, $m
  402
  435
  471
  508
  546
  587
  630
  675
  722
  772
  824
  879
  936
  996
  1,060
  1,126
  1,196
  1,269
  1,346
  1,427
  1,512
  1,601
  1,694
  1,793
  1,896
  2,004
  2,118
  2,237
  2,362
  2,494
Total liabilities, $m
  671
  705
  740
  777
  816
  857
  900
  945
  992
  1,042
  1,094
  1,148
  1,206
  1,266
  1,329
  1,396
  1,466
  1,539
  1,616
  1,697
  1,781
  1,870
  1,964
  2,062
  2,165
  2,274
  2,387
  2,507
  2,632
  2,764
Total equity, $m
  719
  755
  792
  832
  874
  917
  963
  1,011
  1,062
  1,115
  1,171
  1,229
  1,291
  1,355
  1,423
  1,494
  1,569
  1,647
  1,730
  1,816
  1,907
  2,002
  2,102
  2,207
  2,318
  2,434
  2,555
  2,683
  2,817
  2,958
Total liabilities and equity, $m
  1,390
  1,460
  1,532
  1,609
  1,690
  1,774
  1,863
  1,956
  2,054
  2,157
  2,265
  2,377
  2,497
  2,621
  2,752
  2,890
  3,035
  3,186
  3,346
  3,513
  3,688
  3,872
  4,066
  4,269
  4,483
  4,708
  4,942
  5,190
  5,449
  5,722
Debt-to-equity ratio
  0.560
  0.580
  0.590
  0.610
  0.630
  0.640
  0.650
  0.670
  0.680
  0.690
  0.700
  0.710
  0.730
  0.740
  0.740
  0.750
  0.760
  0.770
  0.780
  0.790
  0.790
  0.800
  0.810
  0.810
  0.820
  0.820
  0.830
  0.830
  0.840
  0.840
Adjusted equity ratio
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517
  0.517

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  126
  132
  139
  145
  152
  159
  167
  174
  183
  191
  204
  213
  224
  234
  245
  257
  269
  282
  296
  310
  325
  340
  357
  374
  392
  411
  431
  452
  474
  497
Depreciation, amort., depletion, $m
  68
  71
  74
  78
  82
  86
  90
  94
  98
  103
  104
  109
  114
  120
  126
  132
  139
  146
  153
  161
  169
  177
  186
  195
  205
  215
  226
  237
  249
  262
Funds from operations, $m
  194
  204
  213
  223
  234
  245
  256
  268
  281
  294
  307
  322
  338
  354
  371
  389
  408
  428
  448
  470
  493
  517
  543
  569
  597
  626
  657
  689
  723
  759
Change in working capital, $m
  6
  6
  6
  7
  7
  7
  8
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  13
  14
  15
  16
  16
  17
  18
  19
  20
  21
  22
  23
  24
Cash from operations, $m
  189
  197
  207
  216
  226
  237
  248
  260
  272
  285
  298
  312
  327
  343
  359
  377
  395
  414
  434
  455
  478
  501
  525
  551
  578
  606
  636
  667
  700
  734
Maintenance CAPEX, $m
  -60
  -64
  -67
  -70
  -74
  -77
  -81
  -85
  -89
  -94
  -99
  -104
  -109
  -114
  -120
  -126
  -132
  -139
  -146
  -153
  -161
  -169
  -177
  -186
  -195
  -205
  -215
  -226
  -237
  -249
New CAPEX, $m
  -31
  -32
  -33
  -35
  -37
  -39
  -41
  -43
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -63
  -66
  -69
  -73
  -76
  -80
  -84
  -89
  -93
  -98
  -102
  -108
  -113
  -119
  -125
Cash from investing activities, $m
  -91
  -96
  -100
  -105
  -111
  -116
  -122
  -128
  -134
  -141
  -148
  -156
  -163
  -171
  -180
  -189
  -198
  -208
  -219
  -229
  -241
  -253
  -266
  -279
  -293
  -307
  -323
  -339
  -356
  -374
Free cash flow, $m
  97
  102
  106
  111
  116
  121
  127
  132
  138
  145
  150
  157
  164
  172
  180
  188
  197
  206
  216
  226
  237
  248
  260
  272
  285
  299
  313
  328
  344
  361
Issuance/(repayment) of debt, $m
  32
  34
  35
  37
  39
  41
  43
  45
  47
  50
  52
  55
  57
  60
  63
  66
  70
  73
  77
  81
  85
  89
  94
  98
  103
  108
  114
  119
  125
  132
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  32
  34
  35
  37
  39
  41
  43
  45
  47
  50
  52
  55
  57
  60
  63
  66
  70
  73
  77
  81
  85
  89
  94
  98
  103
  108
  114
  119
  125
  132
Total cash flow (excl. dividends), $m
  129
  136
  142
  148
  155
  162
  169
  177
  185
  194
  202
  211
  221
  232
  243
  255
  267
  279
  293
  307
  322
  337
  353
  370
  388
  407
  427
  448
  469
  492
Retained Cash Flow (-), $m
  -34
  -36
  -38
  -40
  -42
  -44
  -46
  -48
  -51
  -53
  -56
  -59
  -61
  -65
  -68
  -71
  -75
  -78
  -82
  -86
  -91
  -95
  -100
  -105
  -110
  -116
  -122
  -128
  -134
  -141
Prev. year cash balance distribution, $m
  62
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  14
  15
  15
  16
  17
  18
  19
  20
  21
  22
  23
  24
  25
  26
  28
  29
  31
  32
  34
  35
  37
  39
  41
  43
  45
  47
  50
  52
  55
  58
Cash available for distribution, $m
  157
  100
  104
  109
  113
  118
  124
  129
  135
  141
  146
  153
  160
  167
  175
  183
  192
  201
  210
  220
  231
  242
  253
  265
  278
  291
  305
  320
  335
  351
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  150
  91
  90
  89
  88
  86
  83
  81
  78
  74
  69
  65
  61
  56
  51
  47
  42
  37
  32
  28
  24
  20
  17
  14
  11
  8
  7
  5
  4
  3
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Kaiser Aluminum Corporation manufactures and sells semi-fabricated specialty aluminum mill products. The Company operates in the Fabricated Products segment. The Company's Fabricated Products segment focuses on producing rolled, extruded and drawn aluminum products used principally for aerospace and defense, automotive and general engineering products that include consumer durables, electronics, electrical and machinery and equipment applications. The Company offers its products for various end market applications, such as aerospace and high strength (Aero/HS products); automotive (Automotive Extrusions); general engineering (GE products), and other industrial (Other products). The Company's fabricated aluminum mill products include flat-rolled (plate and sheet), extruded (rod, bar, hollows and shapes), drawn (rod, bar, pipe and tube) and cast aluminum products.

FINANCIAL RATIOS  of  Kaiser Aluminum (KALU)

Valuation Ratios
P/E Ratio 20.5
Price to Sales 1.4
Price to Book 2.3
Price to Tangible Book
Price to Cash Flow 11.5
Price to Free Cash Flow 21.4
Growth Rates
Sales Growth Rate -4.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20.6%
Cap. Spend. - 3 Yr. Gr. Rate 1.7%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 45.8%
Total Debt to Equity 45.8%
Interest Coverage 9
Management Effectiveness
Return On Assets 7.7%
Ret/ On Assets - 3 Yr. Avg. -0.7%
Return On Total Capital 8.6%
Ret/ On T. Cap. - 3 Yr. Avg. -2.1%
Return On Equity 11.6%
Return On Equity - 3 Yr. Avg. -2.7%
Asset Turnover 1
Profitability Ratios
Gross Margin 23%
Gross Margin - 3 Yr. Avg. 20.1%
EBITDA Margin 15.2%
EBITDA Margin - 3 Yr. Avg. 1.5%
Operating Margin 12.5%
Oper. Margin - 3 Yr. Avg. -0.7%
Pre-Tax Margin 11%
Pre-Tax Margin - 3 Yr. Avg. -2.6%
Net Profit Margin 6.9%
Net Profit Margin - 3 Yr. Avg. -1.6%
Effective Tax Rate 37.4%
Eff/ Tax Rate - 3 Yr. Avg. 35.5%
Payout Ratio 34.8%

KALU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the KALU stock intrinsic value calculation we used $1398 million for the last fiscal year's total revenue generated by Kaiser Aluminum. The default revenue input number comes from 2017 income statement of Kaiser Aluminum. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our KALU stock valuation model: a) initial revenue growth rate of 5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for KALU is calculated based on our internal credit rating of Kaiser Aluminum, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Kaiser Aluminum.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of KALU stock the variable cost ratio is equal to 86.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for KALU stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Kaiser Aluminum.

Corporate tax rate of 27% is the nominal tax rate for Kaiser Aluminum. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the KALU stock is equal to 1%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for KALU are equal to 43.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Kaiser Aluminum operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for KALU is equal to 8.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $746 million for Kaiser Aluminum - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 17 million for Kaiser Aluminum is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Kaiser Aluminum at the current share price and the inputted number of shares is $1.8 billion.

RELATED COMPANIES Price Int.Val. Rating
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COMPANY NEWS

▶ GrafTech (EAF) Jumps: Stock Rises 5.5%   [Aug-02-18 08:53AM  Zacks]
▶ Kaiser Aluminum Corporation to Host Earnings Call   [Jul-24-18 11:00AM  ACCESSWIRE]
▶ Kaiser: 2Q Earnings Snapshot   [Jul-23-18 04:47PM  Associated Press]
▶ 2 Aluminum Stocks To Buy, According To Jefferies   [Jul-16-18 04:35PM  Benzinga]
▶ Steel and Aluminum Stocks Suffer Amidst Trade War Woes   [Jun-19-18 12:59PM  TheStreet.com]
▶ Kaiser: 1Q Earnings Snapshot   [Apr-25-18 06:26PM  Associated Press]
▶ Earnings Confirm Alcoa Corp Is in a Sweet Spot   [Apr-19-18 01:17PM  InvestorPlace]
▶ March Top Materials Dividend Stock   [Mar-18-18 02:02PM  Simply Wall St.]
▶ Kaiser Aluminum Corporation to Host Earnings Call   [Feb-22-18 10:25AM  ACCESSWIRE]
▶ Kaiser reports 4Q loss   [Feb-21-18 07:01PM  Associated Press]
▶ Top NasdaqGS Materials Dividend Payers   [Feb-11-18 01:02PM  Simply Wall St.]
▶ 3 Top Aluminum Stocks to Consider Buying Now   [Feb-05-18 07:17AM  Motley Fool]
▶ Why Alcoa Corp Stock Is a Solid Buy on This Earnings Dip   [Jan-18-18 02:16PM  InvestorPlace]
▶ Stocks With Rising Relative Strength: Kaiser Aluminum   [Dec-07-17 03:00AM  Investor's Business Daily]
▶ Kaiser misses Street 3Q forecasts   [07:02AM  Associated Press]
▶ Is It Time To Sell Kaiser Aluminum Corporation (KALU)?   [Oct-15-17 11:57AM  Simply Wall St.]
▶ The Market In 5 Minutes   [Aug-07-17 08:45AM  Benzinga]
▶ Is Kaiser Aluminum (KALU) a Great Growth Stock?   [Aug-03-17 08:42AM  Zacks]
▶ Kaiser beats Street 2Q forecasts   [Jul-19-17 09:58PM  Associated Press]
▶ Top Ranked Value Stocks to Buy for May 9th   [May-09-17 11:04AM  Zacks]
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