Century Aluminum Co (CENX) Releases Earnings Results, Beats Expectations By $0.24 EPS

Century Aluminum Co (CENX) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.24. Analysts had a consensus of $-0.47. The company posted revenue of $318.90 million in the period, compared to analysts expectations of $335.08 million. The company’s revenue was down -45.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS.

Many Wall Street Analysts have commented on Century Aluminum Co. Company shares were Reiterated by Cowen on Apr 29, 2016 to “Market Perform”, Firm has raised the Price Target to $ 8 from a previous price target of $6 .Company shares were Reiterated by Deutsche Bank on Mar 23, 2016 to “Hold”, Firm has raised the Price Target to $ 7 from a previous price target of $6 .Company shares were Reiterated by Cowen on Feb 19, 2016 to “Market Perform”, Firm has raised the Price Target to $ 6 from a previous price target of $4 .

Century Aluminum Co opened for trading at $8.47 and hit $9.24 on the upside on Wednesday, eventually ending the session at $9.21, with a gain of 7.59% or 0.65 points. The heightened volatility saw the trading volume jump to 35,74,426 shares. Company has a market cap of $802 M.

Century Aluminum Company (Century) is a holding company engaged in the production of primary aluminum and operation of aluminum reduction facilities or smelters in the United States and Iceland. The Company operates three United States aluminum smelters in Hawesville Kentucky (Hawesville) Robards Kentucky (Sebree) and Mt. Holly South Carolina (Mt. Holly) and one smelter in Grundartangi Iceland (Grundartangi). The Company produces several primary products at its facilities which include billet foundry slab and sow. The Company’s annual primary aluminum production capacity is approximately 1166000 tons per year (tpy). In addition to its primary aluminum assets the Company also owns a carbon anode production facility located in Vlissingen the Netherlands (Vlissingen) and Baise Haohai Carbon Company Ltd. (BHH) that owns and operates a carbon anode and cathode facility located in the Guangxi Zhuang Autonomous Region of south China.

Century Aluminum Co

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