Constellium (NYSE:CSTM) Releases Earnings Results, Beats Estimates By $0.44 EPS

Constellium (NYSE:CSTM) issued its quarterly earnings data on Wednesday. The industrial products company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.44, Zacks reports. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.05 billion. Constellium had a return on equity of 14.33% and a net margin of 1.42%.The company’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) EPS.

Constellium Stock Up 11.2%

Shares of NYSE:CSTM traded up $2.62 during mid-day trading on Wednesday, hitting $26.03. 1,657,007 shares of the company traded hands, compared to its average volume of 1,667,947. The firm has a market cap of $3.59 billion, a P/E ratio of 32.99 and a beta of 1.51. Constellium has a 52-week low of $7.32 and a 52-week high of $27.25. The firm’s 50 day simple moving average is $21.30 and its 200 day simple moving average is $17.40. The company has a debt-to-equity ratio of 2.29, a quick ratio of 0.54 and a current ratio of 1.28.

Institutional Investors Weigh In On Constellium

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its stake in Constellium by 35.4% in the third quarter. Millennium Management LLC now owns 6,935,766 shares of the industrial products company’s stock worth $103,204,000 after purchasing an additional 1,813,400 shares in the last quarter. Morgan Stanley grew its position in shares of Constellium by 48.4% in the 4th quarter. Morgan Stanley now owns 3,728,118 shares of the industrial products company’s stock worth $70,275,000 after acquiring an additional 1,216,516 shares in the last quarter. Scopus Asset Management L.P. bought a new position in Constellium during the second quarter worth $14,054,000. Vanguard Group Inc. raised its holdings in shares of Constellium by 39.7% during the third quarter. Vanguard Group Inc. now owns 3,299,064 shares of the industrial products company’s stock worth $49,090,000 after purchasing an additional 938,155 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of Constellium during the second quarter worth $9,498,000. Institutional investors own 92.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. raised their price target on Constellium from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $25.00 price target on shares of Constellium in a research note on Thursday, January 8th. Zacks Research raised shares of Constellium from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Wall Street Zen raised Constellium from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company raised Constellium from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $25.00 in a research report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Constellium has a consensus rating of “Hold” and a consensus price target of $24.00.

Constellium Company Profile

Constellium SE is a global leader in the design and manufacture of high-performance aluminum products and solutions. The company serves key markets including aerospace, automotive, and packaging, offering advanced rolled and extruded aluminum sheet, plate and structural components. Its product portfolio encompasses precision-engineered parts for commercial and military aircraft, automotive body structures and closures, beverage and specialty packaging, as well as industrial and structural applications.

Established in 2011 through the consolidation of Rio Tinto Alcan’s rolled-products and engineered-products businesses, Constellium has built a reputation for innovation in lightweighting and sustainability.