Noranda Aluminum Holding Corp.‘s stock had its “hold” rating reiterated by analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday, Analyst Ratings Net reports. They currently have a $4.20 price objective on the stock. Citigroup Inc.’s target price indicates a potential upside of 10.82% from the stock’s previous close.
Separately, analysts at TheStreet downgraded shares of Noranda Aluminum Holding Corp. from a “hold” rating to a “sell” rating in a research note on Friday, February 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $3.46.
Noranda Aluminum Holding Corp. traded up 0.26% during mid-day trading on Thursday, hitting $3.79. The stock had a trading volume of 541,868 shares. Noranda Aluminum Holding Corp. has a 52 week low of $2.21 and a 52 week high of $5.08. The stock has a 50-day moving average of $4.31 and a 200-day moving average of $3.35. The company’s market cap is $258.2 million. Noranda Aluminum Holding Corp. also saw a large decline in short interest in January. As of March 31st, there was short interest totalling 1,154,419 shares, a decline of 38.5% from the March 14th total of 1,876,653 shares. Based on an average daily trading volume, of 1,036,880 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.7% of the shares of the stock are short sold.
Noranda Aluminum Holding Corp. last released its earnings data on Wednesday, April 23rd. The company reported ($0.24) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.20) by $0.04. The company had revenue of $311.60 million for the quarter, compared to the consensus estimate of $319.48 million. During the same quarter last year, the company posted ($0.02) earnings per share. Noranda Aluminum Holding Corp.’s revenue was down 7.9% compared to the same quarter last year. On average, analysts predict that Noranda Aluminum Holding Corp. will post $-0.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, May 28th. Investors of record on Monday, May 5th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Thursday, May 1st.
Noranda Aluminum Holding Corporation is a North American integrated producer of aluminum products and rolled aluminum coils.
