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Why the Market Dipped But Constellium (CSTM) Gained Today
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Constellium (CSTM - Free Report) closed the most recent trading day at $20.72, moving +0.53% from the previous trading session. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Heading into today, shares of the aluminum company had lost 1.76% over the past month, lagging the Industrial Products sector's loss of 0.97% and outpacing the S&P 500's loss of 2.57% in that time.
The investment community will be closely monitoring the performance of Constellium in its forthcoming earnings report. The company is scheduled to release its earnings on April 24, 2024. The company is forecasted to report an EPS of $0.27, showcasing an 80% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, down 18.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.91 per share and revenue of $7.84 billion, which would represent changes of +109.89% and +0.13%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Constellium. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.26% fall in the Zacks Consensus EPS estimate. At present, Constellium boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Constellium is holding a Forward P/E ratio of 10.82. Its industry sports an average Forward P/E of 11.7, so one might conclude that Constellium is trading at a discount comparatively.
The Metal Products - Distribution industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 208, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But Constellium (CSTM) Gained Today
Constellium (CSTM - Free Report) closed the most recent trading day at $20.72, moving +0.53% from the previous trading session. This change outpaced the S&P 500's 0.88% loss on the day. Meanwhile, the Dow gained 0.56%, and the Nasdaq, a tech-heavy index, lost 2.05%.
Heading into today, shares of the aluminum company had lost 1.76% over the past month, lagging the Industrial Products sector's loss of 0.97% and outpacing the S&P 500's loss of 2.57% in that time.
The investment community will be closely monitoring the performance of Constellium in its forthcoming earnings report. The company is scheduled to release its earnings on April 24, 2024. The company is forecasted to report an EPS of $0.27, showcasing an 80% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, down 18.64% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $1.91 per share and revenue of $7.84 billion, which would represent changes of +109.89% and +0.13%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Constellium. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.26% fall in the Zacks Consensus EPS estimate. At present, Constellium boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, Constellium is holding a Forward P/E ratio of 10.82. Its industry sports an average Forward P/E of 11.7, so one might conclude that Constellium is trading at a discount comparatively.
The Metal Products - Distribution industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 208, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.