Equities Analysts Offer Predictions for Century Aluminum’s Q2 2023 Earnings (NASDAQ:CENX)

Century Aluminum (NASDAQ:CENX – Get Rating) – Equities researchers at Zacks Research issued their Q2 2023 EPS estimates for shares of Century Aluminum in a research report issued on Monday, May 22nd. Zacks Research analyst A. Barman anticipates that the industrial products company will earn $0.08 per share for the quarter. The consensus estimate for Century Aluminum’s current full-year earnings is $0.55 per share. Zacks Research also issued estimates for Century Aluminum’s Q3 2023 earnings at $0.22 EPS, Q4 2023 earnings at $0.37 EPS, FY2023 earnings at $0.56 EPS, Q1 2024 earnings at ($0.07) EPS, Q2 2024 earnings at $0.08 EPS, Q3 2024 earnings at $0.64 EPS, Q4 2024 earnings at $0.39 EPS, FY2024 earnings at $1.04 EPS and Q1 2025 earnings at $0.07 EPS.

Other research analysts also recently issued reports about the stock. TheStreet downgraded shares of Century Aluminum from a “c” rating to a “d+” rating in a report on Thursday, February 23rd. StockNews.com initiated coverage on shares of Century Aluminum in a report on Thursday, May 18th. They issued a “sell” rating for the company. Wolfe Research raised shares of Century Aluminum from an “underperform” rating to a “peer perform” rating in a report on Friday, February 24th. Finally, B. Riley downgraded shares of Century Aluminum from a “buy” rating to a “neutral” rating and set a $12.00 price objective for the company. in a report on Wednesday, March 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $8.33.

Century Aluminum Stock Down 0.5 %

Century Aluminum stock opened at $7.95 on Thursday. Century Aluminum has a twelve month low of $5.27 and a twelve month high of $12.97. The firm has a 50 day moving average price of $8.75 and a 200-day moving average price of $9.27. The company has a market capitalization of $733.98 million, a P/E ratio of -9.14 and a beta of 2.67. The company has a quick ratio of 0.46, a current ratio of 1.64 and a debt-to-equity ratio of 1.08.

Century Aluminum (NASDAQ:CENX – Get Rating) last released its earnings results on Thursday, February 23rd. The industrial products company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. Century Aluminum had a negative net margin of 2.93% and a negative return on equity of 10.56%. The firm had revenue of $529.90 million during the quarter, compared to the consensus estimate of $558.38 million.

Insiders Place Their Bets

In other news, SVP Matt Aboud bought 18,000 shares of the stock in a transaction on Thursday, May 11th. The shares were acquired at an average cost of $7.25 per share, for a total transaction of $130,500.00. Following the purchase, the senior vice president now directly owns 46,678 shares of the company’s stock, valued at approximately $338,415.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Institutional Trading of Century Aluminum

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp raised its position in shares of Century Aluminum by 87.9% during the 2nd quarter. State Street Corp now owns 10,536,517 shares of the industrial products company’s stock valued at $77,654,000 after buying an additional 4,927,814 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Century Aluminum by 14,866.0% in the 1st quarter. Victory Capital Management Inc. now owns 1,661,674 shares of the industrial products company’s stock worth $16,617,000 after acquiring an additional 1,650,571 shares during the last quarter. Millennium Management LLC grew its holdings in Century Aluminum by 471.7% in the 2nd quarter. Millennium Management LLC now owns 1,341,811 shares of the industrial products company’s stock worth $9,889,000 after acquiring an additional 1,107,112 shares during the last quarter. Mountaineer Partners Management LLC bought a new stake in Century Aluminum in the 4th quarter worth $7,880,000. Finally, Dimensional Fund Advisors LP grew its holdings in Century Aluminum by 22.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,905,938 shares of the industrial products company’s stock worth $39,058,000 after acquiring an additional 727,150 shares during the last quarter. 55.18% of the stock is currently owned by hedge funds and other institutional investors.

Century Aluminum Company Profile

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Century Aluminum Co is a producer of aluminum and operates aluminum reduction facilities, or smelters, in the United States and Iceland. Its products include standard ingots, T-ingot, extrusion billet, horizontal direct chill ingot, molten, slab, and sow. The company was founded in 1995 and is headquartered in Chicago, IL.