Equities analysts expect that Century Aluminum Co (NASDAQ:CENX) will announce sales of $484.52 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Century Aluminum’s earnings, with estimates ranging from $464.90 million to $496.52 million. Century Aluminum reported sales of $454.50 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.6%. The business is expected to announce its next earnings results after the market closes on Tuesday, April 30th.
On average, analysts expect that Century Aluminum will report full year sales of $1.96 billion for the current financial year, with estimates ranging from $1.87 billion to $2.03 billion. For the next year, analysts anticipate that the company will post sales of $2.17 billion, with estimates ranging from $2.02 billion to $2.46 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Century Aluminum.
Century Aluminum (NASDAQ:CENX) last announced its quarterly earnings data on Thursday, February 21st. The industrial products company reported ($0.43) earnings per share for the quarter, beating 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 analyst estimates of $489.02 million. During the same period last year, the business earned $0.26 EPS. The company’s revenue was down 1.0% on a year-over-year basis.
A number of brokerages have recently weighed in on CENX. BidaskClub lowered shares of Century Aluminum from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. B. Riley set a $15.00 price objective on shares of Century Aluminum and gave the company a “buy” rating in a report on Friday, February 22nd. Zacks Investment Research lowered shares of Century Aluminum from a “buy” rating to a “hold” rating in a report on Monday, March 25th. Morgan Stanley reduced their price objective on shares of Century Aluminum from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 26th. Finally, Berenberg Bank upgraded shares of Century Aluminum from a “sell” rating to a “hold” rating and reduced their price objective for the company from $10.00 to $9.00 in a report on Monday, January 14th. They noted that the move was a valuation call. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $13.89.
In related 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 value of $224,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.59% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of CENX. SG Americas Securities LLC grew its position in shares of Century Aluminum by 30.4% in the 3rd quarter. SG Americas Securities LLC now owns 34,392 shares of the industrial products company’s stock valued at $412,000 after buying an additional 8,017 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Century Aluminum by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 574,103 shares of the industrial products company’s stock valued at $6,871,000 after buying an additional 13,803 shares during the last quarter. BlackRock Inc. grew its position in Century Aluminum by 2.1% during the 3rd quarter. BlackRock Inc. now owns 7,056,312 shares of the industrial products company’s stock worth $84,464,000 after purchasing an additional 143,187 shares during the last quarter. Virtu Financial LLC purchased a new position in Century Aluminum during the 3rd quarter worth $132,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Century Aluminum during the 3rd quarter worth $192,000. 55.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CENX traded down $1.09 during midday trading on Tuesday, reaching $8.61. The stock had a trading volume of 3,152,482 shares, compared to its average volume of 1,286,699. Century Aluminum has a 1-year low of $6.54 and a 1-year high of $18.95. The firm has a market capitalization of $758.57 million, a price-to-earnings ratio of -61.50 and a beta of 1.57. The company has a current ratio of 2.26, a quick ratio of 0.73 and a debt-to-equity ratio of 0.33.
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.
Read More: Special Dividends
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Century Aluminum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Century Aluminum and related companies with MarketBeat.com's FREE daily email newsletter.