Century Aluminum Company (NASDAQ:CENX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Century Aluminum swung to a profit in third-quarter 2017. Adjusted earnings, however, missed the Zacks Consensus Estimate, while sales topped. High levels of production from China is still hurting the aluminum industry. The company also faces a difficult pricing environment and is seeing high costs for power and certain key raw materials. “
Several other research analysts also recently weighed in on CENX. BidaskClub downgraded shares of Century Aluminum from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BMO Capital Markets set a $16.00 price objective on shares of Century Aluminum and gave the stock a “hold” rating in a report on Friday, October 27th. Cowen and Company set a $16.00 price objective on shares of Century Aluminum and gave the stock a “hold” rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co upgraded shares of Century Aluminum from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $15.00 to $22.00 in a report on Monday, August 21st. Finally, Macquarie began coverage on shares of Century Aluminum in a report on Thursday, September 7th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $17.10.
Shares of Century Aluminum (NASDAQ CENX) traded down $0.49 during midday trading on Tuesday, reaching $13.84. 995,457 shares of the company traded hands, compared to its average volume of 2,483,338. Century Aluminum has a fifty-two week low of $8.39 and a fifty-two week high of $20.68. 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 (NASDAQ:CENX) last issued its earnings results on Thursday, October 26th. The industrial products company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.08). The company had revenue of $388.80 million for the quarter, compared to the consensus estimate of $392.28 million. Century Aluminum had a negative return on equity of 0.17% and a negative net margin of 10.45%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.31) earnings per share. equities research analysts predict that Century Aluminum will post 0.39 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in CENX. Prudential Financial Inc. raised its holdings in shares of Century Aluminum by 13.6% in the first quarter. Prudential Financial Inc. now owns 96,609 shares of the industrial products company’s stock valued at $1,226,000 after purchasing an additional 11,538 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Century Aluminum by 88.0% in the first quarter. Alliancebernstein L.P. now owns 69,000 shares of the industrial products company’s stock valued at $876,000 after purchasing an additional 32,300 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Century Aluminum in the first quarter valued at about $826,000. Legal & General Group Plc raised its holdings in shares of Century Aluminum by 6.7% in the first quarter. Legal & General Group Plc now owns 89,354 shares of the industrial products company’s stock valued at $1,132,000 after purchasing an additional 5,601 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its holdings in shares of Century Aluminum by 7.1% in the first quarter. Thrivent Financial For Lutherans now owns 28,190 shares of the industrial products company’s stock valued at $358,000 after purchasing an additional 1,880 shares during the last quarter. Institutional investors own 68.72% of the company’s stock.
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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