B. Riley Equities Analysts Boost Earnings Estimates for CENX

Century Aluminum (NASDAQ:CENX) – Analysts at B. Riley increased their FY2024 EPS estimates for Century Aluminum in a research note issued to investors on Tuesday, December 17th. B. Riley analyst L. Pipes now expects that the industrial products company will post earnings of $0.62 per share for the year, up from their previous forecast of $0.56. B. Riley has a “Buy” rating and a $24.00 price objective on the stock. The consensus estimate for Century Aluminum’s current full-year earnings is $0.56 per share. B. Riley also issued estimates for Century Aluminum’s FY2025 earnings at $2.76 EPS and FY2026 earnings at $3.02 EPS.

Century Aluminum (NASDAQ:CENX) last posted its earnings results on Monday, November 4th. The industrial products company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.32 by $0.31. The firm had revenue of $539.10 million for the quarter, compared to the consensus estimate of $587.10 million. Century Aluminum had a net margin of 14.60% and a return on equity of 11.37%. During the same period in the prior year, the business posted ($0.13) earnings per share.

A number of other equities analysts have also commented on the stock. StockNews.com raised shares of Century Aluminum from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. BMO Capital Markets lifted their target price on shares of Century Aluminum from $16.00 to $18.00 and gave the stock a “market perform” rating in a report on Tuesday, November 5th. Finally, Wolfe Research raised shares of Century Aluminum from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research report on Tuesday, December 3rd.

Century Aluminum Stock Down 2.9 %

Shares of CENX stock opened at $18.06 on Friday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 6.04 and a beta of 2.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.56 and a current ratio of 1.71. The stock’s 50 day simple moving average is $20.46 and its 200 day simple moving average is $17.20. Century Aluminum has a twelve month low of $9.65 and a twelve month high of $25.39.

Institutional Investors Weigh In On Century Aluminum

Several hedge funds and other institutional investors have recently modified their holdings of CENX. MQS Management LLC boosted its holdings in Century Aluminum by 8.1% in the 2nd quarter. MQS Management LLC now owns 11,792 shares of the industrial products company’s stock valued at $198,000 after purchasing an additional 883 shares during the period. GAMMA Investing LLC raised its position in shares of Century Aluminum by 39.6% during the third quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock valued at $71,000 after buying an additional 1,233 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Century Aluminum by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 27,893 shares of the industrial products company’s stock valued at $467,000 after buying an additional 1,335 shares during the period. Quest Partners LLC grew its position in Century Aluminum by 104.1% during the second quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock worth $45,000 after buying an additional 1,385 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Century Aluminum by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 366,804 shares of the industrial products company’s stock valued at $6,144,000 after acquiring an additional 1,641 shares during the period. Institutional investors and hedge funds own 61.59% of the company’s stock.

Century Aluminum Company Profile

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.