Brokerages expect Century Aluminum Company (NASDAQ:CENX) to post $400.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Century Aluminum’s earnings, with the highest sales estimate coming in at $406.52 million and the lowest estimate coming in at $393.93 million. Century Aluminum posted sales of $326.75 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.5%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Century Aluminum will report full year sales of $400.23 million for the current financial year, with estimates ranging from $1.54 billion to $1.60 billion. For the next financial year, analysts expect that the business will report sales of $1.57 billion per share, with estimates ranging from $1.55 billion to $1.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Century Aluminum.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Century Aluminum from a “buy” rating to a “hold” rating in a report on Monday, July 17th. BidaskClub lowered shares of Century Aluminum from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Cowen and Company lowered their target price on shares of Century Aluminum from $11.00 to $8.00 and set a “market perform” rating for the company in a report on Wednesday, April 19th. BMO Capital Markets reiterated a “hold” rating and set a $14.00 target price on shares of Century Aluminum in a report on Wednesday, April 26th. Finally, Deutsche Bank AG upgraded shares of Century Aluminum from a “sell” rating to a “hold” rating and lifted their target price for the company from $10.00 to $15.00 in a report on Friday, June 23rd. Six research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $14.20.
In other news, insider Michael A. Bless sold 27,618 shares of Century Aluminum stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $14.88, for a total transaction of $410,955.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its stake in shares of Century Aluminum by 4,279.7% in the first quarter. JPMorgan Chase & Co. now owns 1,610,095 shares of the industrial products company’s stock valued at $20,432,000 after buying an additional 1,573,332 shares during the period. Impala Asset Management LLC increased its stake in shares of Century Aluminum by 143.5% in the first quarter. Impala Asset Management LLC now owns 1,714,144 shares of the industrial products company’s stock valued at $21,752,000 after buying an additional 1,010,144 shares during the period. Hood River Capital Management LLC purchased a new stake in shares of Century Aluminum during the first quarter valued at $12,317,000. Horseman Capital Management Ltd purchased a new stake in shares of Century Aluminum during the first quarter valued at $9,965,000. Finally, State Street Corp increased its stake in shares of Century Aluminum by 19.9% in the first quarter. State Street Corp now owns 4,491,650 shares of the industrial products company’s stock valued at $56,998,000 after buying an additional 744,622 shares during the period. 65.06% of the stock is owned by institutional investors.
Shares of Century Aluminum (NASDAQ:CENX) traded up 0.30% during mid-day trading on Friday, reaching $16.74. The company’s stock had a trading volume of 3,706,182 shares. Century Aluminum has a 12 month low of $5.53 and a 12 month high of $19.08. The company’s market cap is $1.46 billion. The company has a 50-day moving average of $16.28 and a 200-day moving average of $14.43.
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. The Company’s primary aluminum facilities produce standard grade primary aluminum products.
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