|Bid||12.75 x 900|
|Ask||13.65 x 800|
|Day's range||13.00 - 13.47|
|52-week range||11.04 - 24.77|
|PE ratio (TTM)||16.67|
|Earnings date||24 Oct 2018 - 29 Oct 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||20.00|
In the previous article, we looked at some of Alcoa’s (AA) bearish drivers. As Alcoa is long on alumina, the company benefits from higher alumina prices. Earlier this year, the sanctions lifted alumina prices to an all-time high, while aluminum also rallied to seven-year highs.
Alcoa (AA), the leading US-based aluminum producer, is having a terrible year. Century Aluminum (CENX) has lost almost 40%, while Rio Tinto (RIO) has fallen 5.5%. Aluminum has seen a selling spree after prices hit multiyear highs in April after President Trump imposed sanctions on Russian aluminum producer RUSAL.
Alcoa (AA) has seen upward price action in August. The stock has risen 4.3% in August, while it’s still down 16.2% YTD (year-to-date). Century Aluminum (CENX) and Rio Tinto (RIO) have fallen 33.8% and 1.8%, respectively, YTD. So far, the SPDR Dow Jones Industrial Average ETF (DIA) has risen 7.0% in 2018 based on the closing prices on August 29.
Century Aluminum (CENX) has been a vocal supporter of the Section 232 tariffs. The company announced a plant restart after the tariffs were announced. Alcoa expects a negative impact of $12 million–$14 million on its earnings each month from the tariffs that it pays on aluminum shipped from its Canadian smelters to the US.
At the restart of Century Aluminum’s (CENX) smelter in Kentucky, Commerce Secretary Wilbur Ross said, “This administration remains steadfast in our Made in the U.S.A. commitment.”
Earlier this year, President Trump imposed 10% tariffs on aluminum imports and 25% tariffs on steel imports. The tariffs imposed under Section 232 of the Trade Expansion Act of 1962 were intended to boost domestic steel and aluminum production. To be sure, US steel and aluminum producers like Alcoa (AA) have cited Chinese overcapacity coupled with the allegedly subsidized Chinese exports for a long time as their biggest woe.
NEW YORK, Aug. 17, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Avis ...
China’s aluminum overcapacity was also mentioned in this year’s G7 meeting, which will otherwise be remembered for the exchange of rather harsh words between the United States and Canada. Chinese aluminum exports have been running strong this year despite China’s stated commitment of curtailing its aluminum overcapacity.
Century Aluminum's (CENX) Q2 results surpass expectations despite negative impact from equipment failure at Sebree and expenses associated with the Hawesville restart project.
Century (CENX) delivered earnings and revenue surprises of 33.33% and 2.41%, respectively, for the quarter ended June 2018. Do the numbers hold clues to what lies ahead for the stock?
The Chicago-based company said it had net income of 20 cents per share. Earnings, adjusted for non-recurring costs, were 32 cents per share. The results surpassed Wall Street expectations. The average ...
CHICAGO, Aug. 01, 2018-- Century Aluminum Company today announced second quarter 2018 results. Second Quarter 2018 Financial Results. Net income of $19.4 million, or $0.20 per diluted share Adjusted net ...
Regarding your editorial “The Trade Casualties Mount” (July 21): The claim that six U.S. aluminum plants have shuttered since 2012 because “retrofitting plants is expensive” is counterfactual. A collapse in global aluminum prices due to excess capacity was the real driver. In fact, excess capacity in both steel and aluminum is a key reason why the tariffs imposed by the Trump administration are necessary to defend U.S. producers in the interests of national security.
Can Alcoa Recover from Its Recent Slump? As we noted previously, Alcoa (AA) saw a selling spree after its second-quarter earnings were released. Some observers attributed the fall to the negative impact from the Section 232 tariffs, which prompted Alcoa to lower its 2018 guidance.
Last week, Alcoa (AA) saw a selling spree. Alcoa has fallen to the lowest closing level this year. In this part, we’ll see what drove Alcoa’s price action last week and analyze whether the stock can recover from the slump.
Alcoa (AA) reported its second-quarter earnings on July 18. In this article, we’ll see how Alcoa performed on key financial metrics in the quarter. Alcoa reported revenues of $3.6 billion in the quarter as compared to $3.1 billion in Q1 2018 and $2.9 billion in Q2 2017.
Alcoa (AA) released its second-quarter earnings on July 18. Century Aluminum’s (CENX) earnings are scheduled for August 1. Alcoa was down in the after-hours trading session yesterday after its second-quarter earnings release.
CHICAGO, July 16, 2018-- Century Aluminum Company announced today that it has hired Craig C. Conti as Executive Vice President and Chief Financial Officer. Conti will join the Company on July 30, 2018 ...
Alcoa (AA) is scheduled to release its second-quarter earnings on July 18. Alcoa has received “strong buy” ratings from three analysts, while seven have given it “buy” or equivalent ratings. The remaining five analysts polled by Thomson Reuters on July 10 have rated Alcoa as a “hold.” Alcoa’s mean consensus price target of $65.31 represents a 36.4% upside over its July 10 closing price.
CHICAGO, July 11, 2018-- Century Aluminum Company will report second quarter 2018 earnings on Wednesday, August 1, 2018 after the close of market trading. The news release will be issued through GlobeNewswire. ...
Alcoa’s (AA) second-quarter earnings are scheduled to be released on July 18. In this article, we’ll see what analysts are projecting for the company’s second-quarter earnings. Analysts polled by Thomson Reuters expect Alcoa to post revenue of $3.46 billion in the second quarter.
US aluminum producers such as Alcoa (AA) and Century Aluminum (CENX) are having a dismal year despite the Section 232 tariffs. Alcoa (AA) stock trades at a solid EV-to-EBITDA multiple of ~3.5x for 2018. Its 2019 EV-to-EBITDA multiple stands at ~4.0x.