Constellium (NYSE:CSTM) Trading Down 5.4% Following Weak Earnings

Constellium SE (NYSE:CSTM) shares were down 5.4% during mid-day trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $20.00 and last traded at $20.18. Approximately 1,559,268 shares changed hands during trading, an increase of 111% from the average daily volume of 739,664 shares. The stock had previously closed at $21.33.

The industrial products company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.15). The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Constellium had a net margin of 1.73% and a return on equity of 15.90%.

Analyst Ratings Changes

Several research analysts have recently weighed in on CSTM shares. JPMorgan Chase & Co. cut their price objective on shares of Constellium from $28.00 to $27.00 and set an “overweight” rating on the stock in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Constellium from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, January 23rd. UBS Group started coverage on shares of Constellium in a report on Tuesday, January 16th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and set a $24.00 price objective on shares of Constellium in a report on Friday, April 19th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $25.40.

Institutional Trading of Constellium

Several large investors have recently bought and sold shares of the company. FMR LLC grew its position in shares of Constellium by 1.7% during the third quarter. FMR LLC now owns 14,681,988 shares of the industrial products company’s stock worth $267,212,000 after buying an additional 251,829 shares in the last quarter. Jennison Associates LLC lifted its stake in Constellium by 2.5% during the third quarter. Jennison Associates LLC now owns 5,678,571 shares of the industrial products company’s stock worth $103,350,000 after purchasing an additional 136,338 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Constellium by 19.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,102,580 shares of the industrial products company’s stock worth $68,598,000 after purchasing an additional 504,421 shares during the last quarter. Rubric Capital Management LP lifted its stake in Constellium by 49.6% during the fourth quarter. Rubric Capital Management LP now owns 2,924,438 shares of the industrial products company’s stock worth $58,372,000 after purchasing an additional 970,164 shares during the last quarter. Finally, Cannell & Co. lifted its stake in Constellium by 29.3% during the fourth quarter. Cannell & Co. now owns 2,561,727 shares of the industrial products company’s stock worth $51,132,000 after purchasing an additional 580,500 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.

Constellium Price Performance

The company has a 50 day moving average of $20.59 and a 200-day moving average of $18.92. The stock has a market capitalization of $2.99 billion, a P/E ratio of 23.00 and a beta of 1.71. The company has a quick ratio of 0.52, a current ratio of 1.31 and a debt-to-equity ratio of 2.10.

Constellium Company Profile

Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of rolled and extruded aluminum products for the packaging, aerospace, automotive, defense, and other transportation and industry end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.