Century Aluminum Given “Sell” Rating at Goldman Sachs Group Inc. (CENX)
Century Aluminum (NASDAQ:CENX)‘s stock had its “sell” rating reaffirmed by stock analysts at Goldman Sachs Group Inc. in a report issued on Tuesday, AnalystRatingsNetwork reports.
The analysts wrote, “The marking to market of aluminum prices had no impact on our 2Q13 EPS estimate for CENX of ($0.14). While one-month lagged aluminum prices were down quarter over quarter ($0.82/lb from $0.84/lb in 2Q13), we believe CENX’s earnings will improve sequentially due to the one month benefit from lower power contracts at Hawesville. CENX will also see higher shipment volumes due to a full quarter of production from Sebree. There are no changes to our forward estimates. We maintain our six-month P/E-, EV/EBITDA-, and DCF-based target price of $6.00. We maintain our Sell rating on CENX.”
Century Aluminum (NASDAQ:CENX) traded down 1.64% during mid-day trading on Tuesday, hitting $7.82. 297,417 shares of the company’s stock traded hands. Century Aluminum has a 52 week low of $6.26 and a 52 week high of $10.60. The stock has a 50-day moving average of $8.2 and a 200-day moving average of $8.6. The company’s market cap is $692.9 million.
Century Aluminum (NASDAQ:CENX) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.39) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.15) by $0.24. The company had revenue of $331.90 million for the quarter, compared to the consensus estimate of $304.27 million. During the same quarter last year, the company posted ($0.14) earnings per share. Century Aluminum’s revenue was up 2.6% compared to the same quarter last year. Analysts expect that Century Aluminum will post $-0.76 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company cut their price target on shares of Century Aluminum from $13.00 to $10.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Morgan Stanley cut their price target on shares of Century Aluminum from $10.00 to $9.00 in a research note to investors on Monday. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks upgraded shares of Century Aluminum from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, September 26th. They now have a $8.50 price target on the stock. Five equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Century Aluminum currently has a consensus rating of “Hold” and an average price target of $9.00.
Century Aluminum Company (NASDAQ:CENX) is engaged in producing aluminum.
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