Constellium NV Trading 4.2% Higher Following Strong Earnings (CSTM)
Constellium NV (NASDAQ:CSTM) traded up 4.2% during mid-day trading on Thursday after the company announced better than expected quarterly earnings, American Banking News.com reports. The company traded as high as $29.92 and last traded at $28.87, with a volume of 1,725,521 shares. The stock had previously closed at $27.70.
The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $920.00 million for the quarter, compared to the consensus estimate of $946.45 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis.
Several analysts have recently commented on the stock. Analysts at Credit Agricole downgraded shares of Constellium NV from an “outperform” rating to a “neutral” rating in a research note on Monday, August 18th. Separately, analysts at Credit Suisse downgraded shares of Constellium NV from an “outperform” rating to a “neutral” rating in a research note on Monday, August 18th. They now have a $32.00 price target on the stock, down previously from $33.00. Finally, analysts at Goldman Sachs downgraded shares of Constellium NV from a “conviction-buy” rating to a “buy” rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $33.80.
The stock’s 50-day moving average is $30.00 and its 200-day moving average is $29.48. The company has a market cap of $3.045 billion and a price-to-earnings ratio of 16.18.
Constellium N.V., formerly Constellium Holdco BV, is a Netherlands-based company, which is engaged in the manufacture of aluminum products and solutions.
Receive News & Ratings for Constellium NV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellium NV and related companies with Analyst Ratings Network's FREE daily email newsletter.