Citigroup Inc. Reiterates “Neutral” Rating for Noranda Aluminum Holding Corp. (NOR)
Noranda Aluminum Holding Corp. (NYSE:NOR)‘s stock had its “neutral” rating restated by investment analysts at Citigroup Inc. in a note issued to investors on Tuesday. They currently have a $4.60 target price on the stock, up from their previous target price of $4.50. Citigroup Inc.’s price target points to a potential upside of 4.07% from the stock’s previous close.
Shares of Noranda Aluminum Holding Corp. (NYSE:NOR) traded down 3.42% during mid-day trading on Tuesday, hitting $4.269. 796,680 shares of the company’s stock traded hands. Noranda Aluminum Holding Corp. has a 52-week low of $2.21 and a 52-week high of $5.08. The stock’s 50-day moving average is $4.11 and its 200-day moving average is $3.83. The company’s market cap is $292.7 million.
Noranda Aluminum Holding Corp. (NYSE:NOR) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.10) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.08) by $0.02. The company had revenue of $345.00 million for the quarter, compared to the consensus estimate of $341.57 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. Analysts expect that Noranda Aluminum Holding Corp. will post $-0.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 17th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.90%.
Noranda Aluminum Holding Corporation (NYSE:NOR) is a North American integrated producer of aluminum products and rolled aluminum coils.