Century Aluminum Sets New 12-Month High After Earnings Beat (CENX)
Century Aluminum (NASDAQ:CENX) reached a new 52-week high during trading on Thursday following a stronger than expected earnings report, American Banking and Market News reports. The stock traded as high as $19.79 and last traded at $18.55, with a volume of 911,859 shares traded. The stock had previously closed at $18.48.
The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.18 by $0.03. The company had revenue of $458.30 million for the quarter, compared to the consensus estimate of $438.71 million. During the same quarter last year, the company posted ($0.39) earnings per share. Century Aluminum’s revenue was up 38.1% compared to the same quarter last year.
CENX has been the subject of a number of recent research reports. Analysts at Cowen and Company raised their price target on shares of Century Aluminum from $13.00 to $19.00 in a research note on Thursday. Separately, analysts at Goldman Sachs upgraded shares of Century Aluminum from a “sell” rating to a “neutral” rating in a research note on Monday, July 7th. They now have a $15.50 price target on the stock, up previously from $8.00. Finally, analysts at Bank of America upgraded shares of Century Aluminum from an “underperform” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $14.00 price target on the stock, up previously from $9.00. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Century Aluminum presently has a consensus rating of “Buy” and a consensus target price of $13.93.
The stock has a 50-day moving average of $16.68 and a 200-day moving average of $13.76. The company’s market cap is $1.645 billion.
Century Aluminum Company (NASDAQ:CENX) is engaged in producing aluminum.
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