According to Zacks, “Century Aluminum is likely to gain from initiatives to reduce operating costs. These initiatives are expected to support the bottom line starting second-quarter 2019. The company is expected to benefit from strong aluminum demand across automotive and aerospace markets as well as acquisitions. Also, it is seeing strong downstream demand in most regions and sectors, particularly in the United States. However, Century Aluminum is exposed to certain operational challenges. Higher power prices, lower realized selling prices and higher alumina costs are likely to hurt margins. Century Aluminum has also underperformed the industry it belongs to in the past year.”
Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Century Aluminum from a hold rating to a sell rating in a research report on Thursday, March 7th. ValuEngine raised shares of Century Aluminum from a sell rating to a hold rating in a research report on Wednesday, February 27th. Berenberg Bank raised shares of Century Aluminum from a sell rating to a hold rating and lowered their target price for the stock from $10.00 to $9.00 in a research report on Monday, January 14th. They noted that the move was a valuation call. Finally, Morgan Stanley initiated coverage on shares of Century Aluminum in a research report on Friday, December 21st. They set an equal weight rating and a $10.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $13.89.
Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Thursday, February 21st. The industrial products company reported ($0.43) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.53) by $0.10. Century Aluminum had a negative net margin of 3.58% and a negative return on equity of 1.34%. The business had revenue of $481.80 million for the quarter, compared to the consensus estimate of $489.02 million. During the same period in the prior year, the business posted $0.26 earnings per share. Century Aluminum’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, sell-side analysts predict that Century Aluminum will post -0.75 EPS for the current year.
In other Century Aluminum news, insider Michael A. Bless sold 25,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $8.96, for a total transaction of $224,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.59% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in Century Aluminum by 1,531.9% during the third quarter. Tower Research Capital LLC TRC now owns 9,106 shares of the industrial products company’s stock valued at $109,000 after acquiring an additional 8,548 shares during the period. Canada Pension Plan Investment Board boosted its holdings in Century Aluminum by 2.2% during the fourth quarter. Canada Pension Plan Investment Board now owns 3,947,602 shares of the industrial products company’s stock valued at $28,855,000 after acquiring an additional 84,800 shares during the period. Royce & Associates LP bought a new stake in Century Aluminum during the fourth quarter valued at about $3,382,000. Rhumbline Advisers boosted its holdings in Century Aluminum by 19.6% during the fourth quarter. Rhumbline Advisers now owns 147,655 shares of the industrial products company’s stock valued at $1,079,000 after acquiring an additional 24,186 shares during the period. Finally, Vanguard Group Inc boosted its holdings in Century Aluminum by 2.0% during the third quarter. Vanguard Group Inc now owns 5,030,941 shares of the industrial products company’s stock valued at $60,221,000 after acquiring an additional 97,105 shares during the period. 55.93% of the stock is currently owned by hedge funds and other institutional investors.
Century Aluminum Company Profile
Century Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum products in the United States and Iceland. The company was founded in 1995 and is headquartered in Chicago, Illinois.
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