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Noranda Aluminum Holding Rating Lowered to Neutral at Citigroup (NOR)

Tuesday, Apr 16, 2013

Noranda Aluminum Holding (NYSE: NOR) was downgraded by equities research analysts at Citigroup to a “neutral” rating in a research note issued to investors on Monday, Analyst Ratings.Net reports.

NOR has been the subject of a number of other recent research reports. Analysts at Credit Suisse cut their price target on shares of Noranda Aluminum Holding from $7.00 to $6.00 in a research note to investors on Friday, February 22nd. Separately, analysts at Barclays Capital cut their price target on shares of Noranda Aluminum Holding from $8.00 to $7.00 in a research note to investors on Thursday, February 21st. They now have an “equal weight” rating on the stock. Finally, analysts at Zacks downgraded shares of Noranda Aluminum Holding from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, January 15th. They now have a $6.10 price target on the stock.

Noranda Aluminum Holding (NYSE: NOR) opened at 3.91 on Monday. Noranda Aluminum Holding has a 1-year low of $3.86 and a 1-year high of $10.95. The stock’s 50-day moving average is currently $4.40. The company has a market cap of $264.9 million and a price-to-earnings ratio of 5.43.

Noranda Aluminum Holding (NYSE: NOR) last posted its quarterly earnings results on Wednesday, February 20th. The company reported $0.06 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.03) by $0.09. The company had revenue of $332.90 million for the quarter, compared to the consensus estimate of $332.09 million. During the same quarter last year, the company posted $0.01 earnings per share. Noranda Aluminum Holding’s revenue was down 1.7% compared to the same quarter last year. Analysts expect that Noranda Aluminum Holding will post $-0.02 EPS for the current fiscal year.

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