Research Analysts Set Expectations for Century Aluminum’s Q3 2024 Earnings (NASDAQ:CENX)

Century Aluminum (NASDAQ:CENX) – Investment analysts at B. Riley raised their Q3 2024 earnings per share (EPS) estimates for shares of Century Aluminum in a research report issued on Tuesday, July 2nd. B. Riley analyst L. Pipes now anticipates that the industrial products company will earn $0.26 per share for the quarter, up from their previous forecast of $0.20. The consensus estimate for Century Aluminum’s current full-year earnings is $0.62 per share.

CENX has been the topic of a number of other reports. BMO Capital Markets increased their price objective on Century Aluminum from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, May 2nd. StockNews.com lowered Century Aluminum from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Century Aluminum Trading Up 6.7 %

Shares of NASDAQ:CENX opened at $20.19 on Thursday. The business’s 50-day moving average is $17.15 and its 200 day moving average is $14.15. Century Aluminum has a 1 year low of $5.70 and a 1 year high of $21.37. The firm has a market capitalization of $1.87 billion, a P/E ratio of 9.26 and a beta of 2.52. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.67 and a quick ratio of 0.63.

Century Aluminum (NASDAQ:CENX) last announced its earnings results on Wednesday, May 1st. The industrial products company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.20). Century Aluminum had a net margin of 10.72% and a return on equity of 4.27%. The business had revenue of $489.50 million for the quarter, compared to analyst estimates of $520.30 million.

Insider Activity

In other news, CEO Jesse E. Gary sold 60,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $16.21, for a total transaction of $972,600.00. Following the completion of the sale, the chief executive officer now owns 62,447 shares of the company’s stock, valued at $1,012,265.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.68% of the company’s stock.

Institutional Investors Weigh In On Century Aluminum

Several large investors have recently bought and sold shares of CENX. Covestor Ltd increased its stake in Century Aluminum by 13,746.2% during the 1st quarter. Covestor Ltd now owns 1,800 shares of the industrial products company’s stock worth $28,000 after buying an additional 1,787 shares in the last quarter. GAMMA Investing LLC increased its stake in Century Aluminum by 199.8% during the 1st quarter. GAMMA Investing LLC now owns 2,878 shares of the industrial products company’s stock worth $44,000 after buying an additional 1,918 shares in the last quarter. Allworth Financial LP purchased a new stake in Century Aluminum during the 4th quarter worth approximately $68,000. Russell Investments Group Ltd. increased its stake in Century Aluminum by 7,779.8% during the 1st quarter. Russell Investments Group Ltd. now owns 7,013 shares of the industrial products company’s stock worth $108,000 after buying an additional 6,924 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Century Aluminum in the first quarter valued at approximately $161,000. 61.59% of the stock is currently owned by hedge funds and other institutional investors.

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.