Wells Fargo & Company Issues Pessimistic Forecast for Century Aluminum (NASDAQ:CENX) Stock Price

Key Points

• Wells Fargo lowered its Century Aluminum price target from $83 to $79 while maintaining an “overweight” rating, implying 93.87% potential upside from the prior close.
• Analyst sentiment remains mixed but leans positive: Century Aluminum has a consensus “Moderate Buy” rating and an average price target of $72, based on four Buy, one Hold, and one Sell rating.
• Century Aluminum beat quarterly earnings expectations with $2.46 in EPS versus $2.33 estimated, though revenue of $752.1 million fell short of forecasts; institutional investors own 61.59% of the stock.

Century Aluminum (NASDAQ:CENX - Get Free Report) had its price objective reduced by equities researchers at Wells Fargo & Company from $83.00 to $79.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price objective would indicate a potential upside of 93.87% from the stock's previous close.

A number of other research analysts have also recently weighed in on CENX. Weiss Ratings cut shares of Century Aluminum from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded Century Aluminum from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 12th. B. Riley Financial reiterated a "buy" rating on shares of Century Aluminum in a research note on Tuesday, August 18th. Zacks Research lowered Century Aluminum from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 8th. Finally, UBS Group started coverage on shares of Century Aluminum in a report on Monday, August 10th. They set a "buy" rating and a $60.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Century Aluminum Stock Performance

CENX stock opened at $40.75 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.75 and a debt-to-equity ratio of 0.31. The firm has a market cap of $4.03 billion, a PE ratio of 7.04 and a beta of 1.99. The business has a 50 day moving average of $45.35 and a 200-day moving average of $53.08. Century Aluminum has a 12-month low of $25.40 and a 12-month high of $70.43.

Century Aluminum (NASDAQ:CENX - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.13. The business had revenue of $752.10 million for the quarter, compared to analysts' expectations of $817.15 million. Century Aluminum had a return on equity of 33.83% and a net margin of 22.63%.The company's quarterly revenue was up 59.0% on a year-over-year basis. As a group, sell-side analysts expect that Century Aluminum will post 7.75 earnings per share for the current year.

Institutional Trading of Century Aluminum

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management bought a new stake in shares of Century Aluminum during the 1st quarter valued at about $29,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Century Aluminum in the second quarter worth approximately $37,000. Summit Securities Group LLC bought a new position in shares of Century Aluminum in the first quarter worth approximately $42,000. Strs Ohio purchased a new stake in Century Aluminum in the first quarter valued at approximately $47,000. Finally, Hantz Financial Services Inc. raised its stake in Century Aluminum by 68.9% in the fourth quarter. Hantz Financial Services Inc. now owns 1,218 shares of the industrial products company's stock valued at $48,000 after purchasing an additional 497 shares in the last quarter. 61.59% of the stock is currently owned by institutional investors.

Century Aluminum Company Profile

Century Aluminum Company is a producer of primary aluminum. The company operates aluminum smelters that convert alumina into aluminum metal, supplying standard-grade and value-added products used in transportation, construction, packaging, and other industrial applications.

Century Aluminum's operations are primarily located in the United States and Iceland. Its U.S. portfolio includes facilities in Sebree, Kentucky, and Mount Holly, South Carolina, while its Icelandic operations include the Grundartangi smelter, operated through its Norðurál subsidiary.

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