B. Riley Weighs in on Century Aluminum’s Q2 2024 Earnings (NASDAQ:CENX)

Century Aluminum (NASDAQ:CENX) – Stock analysts at B. Riley lifted their Q2 2024 earnings per share estimates for shares of Century Aluminum in a research report issued to clients and investors on Thursday, May 2nd. B. Riley analyst L. Pipes now forecasts that the industrial products company will post earnings per share of $0.02 for the quarter, up from their previous estimate of ($0.05). B. Riley currently has a “Buy” rating and a $14.00 target price on the stock. The consensus estimate for Century Aluminum’s current full-year earnings is $3.10 per share. B. Riley also issued estimates for Century Aluminum’s Q3 2024 earnings at $0.20 EPS, Q4 2024 earnings at $0.51 EPS, FY2024 earnings at $3.10 EPS, Q1 2025 earnings at $0.55 EPS, Q2 2025 earnings at $0.53 EPS, Q3 2025 earnings at $0.43 EPS, Q4 2025 earnings at $0.36 EPS, FY2025 earnings at $1.87 EPS, Q1 2026 earnings at $0.41 EPS and FY2026 earnings at $1.71 EPS.

Other equities analysts also recently issued reports about the company. BMO Capital Markets upped their price target 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 cut shares of Century Aluminum from a “hold” rating to a “sell” rating in a report on Friday, May 3rd.

Century Aluminum Trading Up 0.9 %

NASDAQ:CENX opened at $17.55 on Monday. Century Aluminum has a 1 year low of $5.70 and a 1 year high of $18.64. The stock has a market cap of $1.63 billion, a P/E ratio of 8.05 and a beta of 2.67. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.63 and a current ratio of 1.67. The stock has a 50-day simple moving average of $14.83 and a 200-day simple moving average of $11.35.

Century Aluminum (NASDAQ:CENX) last released its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.53. The business had revenue of $512.30 million during the quarter, compared to analysts’ expectations of $514.40 million. Century Aluminum had a net margin of 10.72% and a return on equity of 4.27%.

Hedge Funds Weigh In On Century Aluminum

Several institutional investors have recently added to or reduced their stakes in CENX. GAMMA Investing LLC grew its position in Century Aluminum by 199.8% in the 1st quarter. GAMMA Investing LLC now owns 2,878 shares of the industrial products company’s stock valued at $44,000 after buying an additional 1,918 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Century Aluminum during the fourth quarter worth about $68,000. Strs Ohio raised its holdings in Century Aluminum by 625.0% during the third quarter. Strs Ohio now owns 8,700 shares of the industrial products company’s stock worth $62,000 after purchasing an additional 7,500 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Century Aluminum by 35.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,107 shares of the industrial products company’s stock valued at $65,000 after purchasing an additional 2,405 shares during the period. Finally, Capstone Investment Advisors LLC purchased a new stake in Century Aluminum in the 1st quarter valued at approximately $161,000. Institutional investors and hedge funds 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.