Century Aluminum (NASDAQ:CENX) Releases Quarterly Earnings Results, Misses Expectations By $0.23 EPS

Century Aluminum (NASDAQ:CENX) posted its quarterly earnings data on Thursday. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.23), FiscalAI reports. Century Aluminum had a return on equity of 18.02% and a net margin of 4.94%.The firm had revenue of $632.20 million for the quarter, compared to analyst estimates of $629.85 million. During the same quarter last year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year.

Century Aluminum Trading Up 14.0%

NASDAQ CENX opened at $33.05 on Friday. The company has a quick ratio of 0.61, a current ratio of 1.75 and a debt-to-equity ratio of 0.66. Century Aluminum has a 52 week low of $13.05 and a 52 week high of $34.51. The business has a 50 day moving average price of $28.13 and a 200-day moving average price of $22.29. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 28.49 and a beta of 2.51.

Insider Buying and Selling at Century Aluminum

In other Century Aluminum news, SVP Agust F. Hafberg sold 9,493 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $27.91, for a total transaction of $264,949.63. Following the completion of the sale, the senior vice president owned 55,260 shares in the company, valued at approximately $1,542,306.60. The trade was a 14.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matt Aboud sold 12,027 shares of the company’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $23.27, for a total transaction of $279,868.29. Following the transaction, the senior vice president owned 62,589 shares in the company, valued at approximately $1,456,446.03. The trade was a 16.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Century Aluminum

Large investors have recently added to or reduced their stakes in the business. Jump Financial LLC bought a new position in shares of Century Aluminum in the second quarter valued at approximately $1,169,000. Empowered Funds LLC raised its position in Century Aluminum by 1.8% in the 1st quarter. Empowered Funds LLC now owns 59,186 shares of the industrial products company’s stock valued at $1,098,000 after buying an additional 1,069 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in Century Aluminum by 8.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 48,209 shares of the industrial products company’s stock valued at $869,000 after buying an additional 3,649 shares during the last quarter. AQR Capital Management LLC lifted its stake in Century Aluminum by 22.1% during the 1st quarter. AQR Capital Management LLC now owns 39,001 shares of the industrial products company’s stock valued at $724,000 after acquiring an additional 7,051 shares in the last quarter. Finally, Orion Resource Partners LP boosted its holdings in Century Aluminum by 204.7% during the 2nd quarter. Orion Resource Partners LP now owns 34,147 shares of the industrial products company’s stock worth $615,000 after acquiring an additional 22,942 shares during the last quarter. Institutional investors own 61.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CENX shares. Zacks Research cut shares of Century Aluminum from a “strong-buy” rating to a “strong sell” rating in a research report on Wednesday. Wells Fargo & Company upped their target price on Century Aluminum from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday. B. Riley raised their target price on Century Aluminum from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Wall Street Zen downgraded Century Aluminum from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Finally, BMO Capital Markets increased their price target on Century Aluminum from $30.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.50.

About Century Aluminum

Century Aluminum Company, together with its subsidiaries, engages in the production of standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates an alumina production facility in Iceland, and a carbon anode production facility in the Netherlands.