According to Zacks, “Century Aluminum's estimates have been stable off late. The company’s has a record of negative surprises in the recent quarters. The company also has low financial leverage with no debt maturities in the near term. The company is facing a weak pricing environment. LME aluminum prices still remain under pressure due to supply glut, exacerbated by high levels of exports of aluminum by China (the world’s biggest producer) amid weakening domestic demand. Weak LME prices are expected to affect the company’s profits in the near term. High levels of exports from China is keeping aluminum prices under pressure.”
Several other equities research analysts have also recently issued reports on CENX. TheStreet cut shares of Century Aluminum from a hold rating to a sell rating in a research note on Tuesday, May 31st. JPMorgan Chase & Co. reiterated a sell rating on shares of Century Aluminum in a report on Friday, July 29th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. The stock presently has a consensus rating of Hold and an average target price of $6.85.
Century Aluminum (NASDAQ:CENX) opened at 6.98 on Wednesday. The company’s market capitalization is $607.78 million. Century Aluminum has a one year low of $2.63 and a one year high of $9.40. The firm’s 50-day moving average is $6.55 and its 200 day moving average is $6.94.
Century Aluminum (NASDAQ:CENX) last announced its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. Century Aluminum had a negative net margin of 8.41% and a negative return on equity of 11.96%. The company had revenue of $326.75 million for the quarter, compared to analysts’ expectations of $338.22 million. During the same quarter in the previous year, the company posted $0.25 EPS. The firm’s quarterly revenue was down 37.6% on a year-over-year basis. On average, equities analysts expect that Century Aluminum will post ($0.31) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of CENX. Landscape Capital Management L.L.C. bought a new stake in shares of Century Aluminum during the first quarter valued at about $1,117,000. Aperio Group LLC raised its stake in shares of Century Aluminum by 111.4% in the first quarter. Aperio Group LLC now owns 44,542 shares of the company’s stock valued at $314,000 after buying an additional 23,474 shares during the period. Franklin Resources Inc. raised its stake in shares of Century Aluminum by 53.3% in the first quarter. Franklin Resources Inc. now owns 843,000 shares of the company’s stock valued at $5,943,000 after buying an additional 293,000 shares during the period. Metropolitan Life Insurance Co. NY bought a new stake in shares of Century Aluminum during the first quarter valued at about $260,000. Finally, Royal Bank of Canada raised its stake in shares of Century Aluminum by 120.1% in the first quarter. Royal Bank of Canada now owns 87,213 shares of the company’s stock valued at $615,000 after buying an additional 47,588 shares during the period. Institutional investors and hedge funds own 57.15% of the company’s stock.
About Century Aluminum
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. Its primary aluminum facilities produce standard grade primary aluminum products.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Century Aluminum Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Century Aluminum Co. and related companies with MarketBeat.com's FREE daily email newsletter.