B. Riley Research Analysts Boost Earnings Estimates for CENX

Century Aluminum (NASDAQ:CENX) – Equities research analysts at B. Riley lifted their FY2024 earnings estimates for Century Aluminum in a report issued on Tuesday, December 17th. B. Riley analyst L. Pipes now anticipates that the industrial products company will post earnings of $0.62 per share for the year, up from their previous estimate 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.

Several other brokerages also recently commented on CENX. StockNews.com raised Century Aluminum from a “sell” rating to a “hold” rating in a research note on Saturday, November 9th. BMO Capital Markets increased their price target on Century Aluminum from $16.00 to $18.00 and gave the company a “market perform” rating in a research 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 price objective on the stock in a report on Tuesday, December 3rd.

Century Aluminum Price Performance

Shares of CENX opened at $18.33 on Friday. The business’s fifty day moving average is $20.46 and its 200 day moving average is $17.20. Century Aluminum has a 12-month low of $9.65 and a 12-month high of $25.39. The company has a quick ratio of 0.56, a current ratio of 1.71 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.70 billion, a P/E ratio of 6.13 and a beta of 2.50.

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

Hedge Funds Weigh In On Century Aluminum

A number of large investors have recently modified their holdings of CENX. Quest Partners LLC raised its holdings in shares of Century Aluminum by 104.1% in the 2nd quarter. Quest Partners LLC now owns 2,716 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 1,385 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Century Aluminum by 39.6% in the third quarter. GAMMA Investing LLC now owns 4,347 shares of the industrial products company’s stock worth $71,000 after purchasing an additional 1,233 shares during the last quarter. Olympiad Research LP purchased a new stake in Century Aluminum in the third quarter valued at approximately $180,000. Dynamic Technology Lab Private Ltd bought a new stake in Century Aluminum during the third quarter valued at approximately $189,000. Finally, MQS Management LLC grew its stake 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 worth $198,000 after buying an additional 883 shares in the last quarter. 61.59% of the stock is currently owned by 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.