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Surging Earnings Estimates Signal Good News for Century Aluminum (CENX)

Century Aluminum (CENX) is seeing positive earnings estimate revisions, suggesting that it could be a solid choice for investors.

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This story originally appeared on Zacks

Century Aluminum Company CENX is a producer of primary aluminum in the United Sates and Iceland that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

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These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CENX’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Century Aluminum could be a solid choice for investors.

Current Quarter Estimates for CENX

In the past 30 days, one estimate has gone higher for Century Aluminum while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 6 cents a share 30 days ago, to 8 cents today, a move of 33.3%.

Current Year Estimates for CENX

Meanwhile, Century Aluminum’s current year figures are also looking quite promising, with one estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, moving from a loss of 5 cents per share 30 days ago to a profit of 41 cents per share today.

Bottom Line

The stock has also started to move higher lately, adding 16.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.



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