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Noranda Aluminum Holding PT Lowered to $11.00
Edited by : AL CIRCLE
2 min read
Investment analysts at Citigroup dropped their target price on shares of Noranda Aluminum Holding to $11.00 in a note issued to investors on Monday.
The analysts wrote, “We estimate 2Q EPS of $0.10 vs the consensus of $0.10 on revenues of $363 mln and EBITDA of $43 mln. We have updated our longer term model based on our new commodity forecasts. We have reduced our estimates to $0.15 in ’12 from $0.84, $0.60 in ’13 from $1.25 and $0.70 in ’14 from $1.25. Based on these revisions we are lowering our target to $11/sh from $12/sh.”
Noranda Aluminum Holding traded down 1.49% on Monday, hitting $6.63. Noranda Aluminum Holding has a 52-week low of $6.29 and a 52-week high of $14.58. The company has a market cap of $447.1 million and a price-to-earnings ratio of 3.87.
Noranda Aluminum Holding last posted its quarterly earnings results on Wednesday, April 25th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.12. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts expect that Noranda Aluminum Holding will post $0.35 EPS for the current fiscal year.
Separately, analysts at Credit Suisse downgraded shares of Noranda Aluminum Holding from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 11th.
Noranda Aluminum Holding Corporation (Noranda HoldCo) is a North American integrated producer of aluminum products and rolled aluminum coils.
The analysts wrote, “We estimate 2Q EPS of $0.10 vs the consensus of $0.10 on revenues of $363 mln and EBITDA of $43 mln. We have updated our longer term model based on our new commodity forecasts. We have reduced our estimates to $0.15 in ’12 from $0.84, $0.60 in ’13 from $1.25 and $0.70 in ’14 from $1.25. Based on these revisions we are lowering our target to $11/sh from $12/sh.”
Noranda Aluminum Holding traded down 1.49% on Monday, hitting $6.63. Noranda Aluminum Holding has a 52-week low of $6.29 and a 52-week high of $14.58. The company has a market cap of $447.1 million and a price-to-earnings ratio of 3.87.
Noranda Aluminum Holding last posted its quarterly earnings results on Wednesday, April 25th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.12. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts expect that Noranda Aluminum Holding will post $0.35 EPS for the current fiscal year.
Separately, analysts at Credit Suisse downgraded shares of Noranda Aluminum Holding from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, July 11th.
Noranda Aluminum Holding Corporation (Noranda HoldCo) is a North American integrated producer of aluminum products and rolled aluminum coils.
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