Century Aluminum (NASDAQ:CENX) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, January 2nd.
According to Zacks, “Century Aluminum has outperformed the industry it belongs to over a year. Century Aluminum should gain from its actions to reduce operating costs. It should also benefit from strong aluminum demand across automotive and aerospace markets as well as acquisitions. However, Century Aluminum faces a difficult pricing environment and is seeing high costs for certain key raw materials. The company also has to pay a high price for power for the Mt. Holly smelter. Moreover, high levels of production from China is still hurting the aluminum industry.”
Several other brokerages have also recently weighed in on CENX. BidaskClub raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Thursday, December 14th. Deutsche Bank cut shares of Century Aluminum from a “buy” rating to a “hold” rating and decreased their target price for the company from $20.00 to $14.00 in a research report on Wednesday, December 20th. JPMorgan Chase & Co. cut shares of Century Aluminum from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $14.50 in a research report on Monday, October 30th. Cowen set a $16.00 target price on shares of Century Aluminum and gave the company a “hold” rating in a research report on Sunday, October 29th. Finally, BMO Capital Markets set a $16.00 target price on shares of Century Aluminum and gave the company a “hold” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Century Aluminum currently has a consensus rating of “Hold” and a consensus target price of $15.90.
Century Aluminum (NASDAQ:CENX) traded up $1.03 during trading on Tuesday, reaching $20.61. 2,952,000 shares of the company’s stock traded hands, compared to its average volume of 2,413,871. The stock has a market cap of $1,800.00, a PE ratio of -11.51 and a beta of 0.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.27 and a current ratio of 2.61. Century Aluminum has a 12 month low of $8.73 and a 12 month high of $21.78.
Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.08). The company had revenue of $388.80 million during the quarter, compared to analysts’ expectations of $392.28 million. Century Aluminum had a negative net margin of 10.45% and a negative return on equity of 0.17%. Century Aluminum’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned ($0.31) earnings per share. research analysts predict that Century Aluminum will post 0.35 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its stake in shares of Century Aluminum by 0.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 469,206 shares of the industrial products company’s stock worth $7,311,000 after acquiring an additional 3,096 shares during the period. First Trust Advisors LP acquired a new stake in shares of Century Aluminum in the second quarter worth $2,825,000. Legal & General Group Plc increased its stake in shares of Century Aluminum by 8.3% in the second quarter. Legal & General Group Plc now owns 96,802 shares of the industrial products company’s stock worth $1,509,000 after acquiring an additional 7,448 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Century Aluminum by 79.6% in the second quarter. BNP Paribas Arbitrage SA now owns 18,118 shares of the industrial products company’s stock worth $282,000 after acquiring an additional 8,032 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of Century Aluminum by 26.2% in the second quarter. Prudential Financial Inc. now owns 121,915 shares of the industrial products company’s stock worth $1,900,000 after acquiring an additional 25,306 shares during the period. Institutional investors and hedge funds own 67.98% of the company’s stock.
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Century Aluminum Company Profile
Century Aluminum Company (Century) is a holding company, which is a producer of primary aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. The Company operates through primary aluminum segment. The Company’s primary aluminum facilities produce standard grade primary aluminum products.
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