Century Aluminum (NASDAQ:CENX) Stock Rating Lowered by Zacks Investment Research

Century Aluminum (NASDAQ:CENX) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday, November 14th.

According to Zacks, “Century Aluminum swung to a profit in third-quarter 2017. Adjusted earnings, however, missed the Zacks Consensus Estimate, while sales topped. High levels of production from China is still hurting the aluminum industry. The company also faces a difficult pricing environment and is seeing high costs for power and certain key raw materials. “

CENX has been the topic of several other research reports. BidaskClub cut shares of Century Aluminum from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. BMO Capital Markets set a $16.00 target price on shares of Century Aluminum and gave the company a “hold” rating in a research note on Friday, October 27th. Cowen set a $16.00 target price on shares of Century Aluminum and gave the company a “hold” rating in a research note on Wednesday, August 2nd. J P Morgan Chase & Co upgraded shares of Century Aluminum from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $22.00 in a research report on Monday, August 21st. Finally, Macquarie assumed coverage on shares of Century Aluminum in a research report on Thursday, September 7th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $17.10.

Century Aluminum (NASDAQ CENX) traded up $0.13 during mid-day trading on Tuesday, hitting $13.38. 2,100,000 shares of the company were exchanged, compared to its average volume of 2,148,579. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.27 and a current ratio of 2.61. Century Aluminum has a 1-year low of $8.39 and a 1-year high of $20.68.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Thursday, October 26th. The industrial products company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.08). Century Aluminum had a negative return on equity of 0.17% and a negative net margin of 10.45%. The firm had revenue of $388.80 million during the quarter, compared to analyst estimates of $392.28 million. During the same period last year, the business earned ($0.31) EPS. The firm’s revenue was up 16.5% on a year-over-year basis. research analysts forecast that Century Aluminum will post 0.39 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of CENX. State of Alaska Department of Revenue boosted its holdings in shares of Century Aluminum by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 9,816 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 4,326 shares during the period. BlueCrest Capital Management Ltd bought a new position in Century Aluminum during the second quarter valued at approximately $160,000. Piedmont Investment Advisors LLC bought a new position in Century Aluminum during the second quarter valued at approximately $168,000. IndexIQ Advisors LLC raised its position in Century Aluminum by 752.8% during the third quarter. IndexIQ Advisors LLC now owns 10,293 shares of the industrial products company’s stock valued at $171,000 after acquiring an additional 9,086 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its position in Century Aluminum by 3.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 11,730 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 370 shares in the last quarter. Institutional investors and hedge funds own 68.01% of the company’s stock.

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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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