Zacks Research demotes Century Aluminium’s projected earnings to $0.09 per share for Q3 2023

Zacks Investment Research has reportedly lowered its estimates for Century Aluminium’s Q3 2023 earnings per share (EPS) in a research report issued to clients and investors. According to M. Agarwal, a research analyst at Zacks, projects that Century will post earnings of $0.09 per share for the current quarter, significantly down from the previous forecast of $0.22.
As per the investment research firm Zacks, the downtrend is likely to continue until the fourth quarter of 2023, with EPS estimated at $0.06.
Other equities analysts have also issued research reports about the company. StockNews.com has granted a ‘sell’ rating to Century Aluminium in a research note, while Wolfe Research has reduced Century’s rating from ‘peer perform’ to ‘underperform’, setting a $6.00 target price on the stock. B. Riley Financial, Inc. has set a new target price of $9.00 compared to the earlier $10.00, giving the company a ‘neutral’ rating.
On Friday, August 25, Century Aluminium opened at $7.38. The business 50-day moving average is $8.74, and its two hundred day moving average is $9.16. Century has a market capitalisation of $681.84 million, a PE ratio of -6.36 and a beta of 2.69.
Several institutional investors have recently increased or decreased their stakes in Century Aluminium. State Street Corp lifted its holdings in shares of Century by 87.9 per cent during Q2 2023, currently owning 10,536,517 shares worth $77,654,000.

Source: https://www.alcircle.com/news/zacks-research-demotes-century-aluminiums-projected-earnings-to-0-09-per-share-for-q3-2023-99025