Zacks Investment Research downgraded shares of Century Aluminum (NASDAQ:CENX) from a strong-buy rating to a hold rating in a research report released on Friday.
According to Zacks, “Century Aluminum has outperformed the industry it belongs to over a year. The company is likely to gain from its initiatives to reduce operating costs. It is also expected to benefit from strong aluminum demand across automotive and aerospace markets as well as from acquisitions. However, Century Aluminum is seeing high costs for certain key raw materials, which will weigh on its margins. 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 analysts have also recently issued reports on CENX. Cowen raised shares of Century Aluminum from a market perform rating to an outperform rating and upped their price objective for the company from $23.00 to $30.00 in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Century Aluminum from a neutral rating to an overweight rating and dropped their price objective for the company from $18.00 to $14.50 in a research note on Wednesday. BMO Capital Markets upgraded shares of Century Aluminum from a market perform rating to an outperform rating and set a $28.00 target price on the stock in a report on Sunday, March 11th. TheStreet upgraded shares of Century Aluminum from a c rating to a b- rating in a report on Friday, February 23rd. Finally, BidaskClub lowered shares of Century Aluminum from a buy rating to a hold rating in a report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Century Aluminum presently has a consensus rating of Hold and an average target price of $21.10.
Shares of Century Aluminum (NASDAQ CENX) traded up $0.27 during midday trading on Friday, reaching $20.83. 4,044,912 shares of the company traded hands, compared to its average volume of 3,185,963. Century Aluminum has a one year low of $11.26 and a one year high of $24.77. The stock has a market cap of $1,800.29, a PE ratio of 55.57 and a beta of 0.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 2.91.
Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, February 22nd. The industrial products company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. Century Aluminum had a net margin of 3.02% and a return on equity of 4.52%. The company had revenue of $433.80 million during the quarter, compared to analysts’ expectations of $427.73 million. During the same quarter in the prior year, the company earned ($0.12) EPS. Century Aluminum’s revenue was up 27.7% compared to the same quarter last year. research analysts anticipate that Century Aluminum will post 1.46 earnings per share for the current fiscal year.
A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in Century Aluminum by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,906 shares of the industrial products company’s stock valued at $622,000 after purchasing an additional 406 shares during the last quarter. Alpha Windward LLC lifted its holdings in shares of Century Aluminum by 8.8% in the 4th quarter. Alpha Windward LLC now owns 33,540 shares of the industrial products company’s stock worth $659,000 after acquiring an additional 2,700 shares during the last quarter. Pinebridge Investments L.P. lifted its holdings in shares of Century Aluminum by 4.6% in the 4th quarter. Pinebridge Investments L.P. now owns 65,778 shares of the industrial products company’s stock worth $1,292,000 after acquiring an additional 2,892 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Century Aluminum by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 569,231 shares of the industrial products company’s stock worth $11,180,000 after acquiring an additional 3,120 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Century Aluminum by 59.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 18,660 shares of the industrial products company’s stock worth $309,000 after acquiring an additional 6,930 shares during the last quarter. Institutional investors own 65.20% 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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