B. Riley Has Positive Forecast for CENX FY2024 Earnings

Century Aluminum (NASDAQ:CENX) – Investment analysts at B. Riley upped their FY2024 earnings per share (EPS) estimates for Century Aluminum in a research note issued to investors on Tuesday, December 17th. B. Riley analyst L. Pipes now forecasts that the industrial products company will post earnings per share of $0.62 for the year, up from their prior estimate of $0.56. B. Riley currently 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.

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

Century Aluminum Trading Up 1.5 %

CENX stock opened at $18.33 on Friday. Century Aluminum has a fifty-two week low of $9.65 and a fifty-two week high of $25.39. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 6.13 and a beta of 2.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.71 and a quick ratio of 0.56. The business has a fifty day moving average price of $20.48 and a 200 day moving average price of $17.20.

Century Aluminum (NASDAQ:CENX) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.63 earnings per share 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 analysts’ expectations 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 firm earned ($0.13) earnings per share.

Institutional Investors Weigh In On Century Aluminum

A number of large investors have recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC raised its position in shares of Century Aluminum by 1,607.1% in the third quarter. Mountaineer Partners Management LLC now owns 22,849,097 shares of the industrial products company’s stock valued at $370,841,000 after purchasing an additional 21,510,639 shares during the period. Encompass Capital Advisors LLC lifted its position in Century Aluminum by 1,208.7% during the second quarter. Encompass Capital Advisors LLC now owns 1,401,638 shares of the industrial products company’s stock worth $23,477,000 after acquiring an additional 1,294,538 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Century Aluminum by 341.1% during the second quarter. Bank of Montreal Can now owns 411,968 shares of the industrial products company’s stock worth $6,900,000 after acquiring an additional 318,579 shares during the period. American Century Companies Inc. increased its stake in shares of Century Aluminum by 30.4% during the second quarter. American Century Companies Inc. now owns 1,186,243 shares of the industrial products company’s stock worth $19,870,000 after purchasing an additional 276,304 shares during the period. Finally, Yaupon Capital Management LP lifted its holdings in Century Aluminum by 401.5% during the 3rd quarter. Yaupon Capital Management LP now owns 322,024 shares of the industrial products company’s stock worth $5,226,000 after purchasing an additional 257,812 shares during the last quarter. Institutional investors own 61.59% of the company’s stock.

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.