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

Constellium SE (NYSE:CSTM) shares fell 5.4% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $20.00 and last traded at $20.18. 1,559,268 shares traded hands during trading, an increase of 111% from the average session 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). Constellium had a net margin of 1.73% and a return on equity of 15.90%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.71 billion.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CSTM. Covestor Ltd lifted its position in shares of Constellium by 12.2% during the third quarter. Covestor Ltd now owns 6,564 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 716 shares in the last quarter. Saxon Interests Inc. bought a new position in shares of Constellium during the first quarter valued at about $206,000. Highland Capital Management LLC bought a new position in shares of Constellium during the fourth quarter valued at about $201,000. M&T Bank Corp bought a new position in shares of Constellium during the fourth quarter valued at about $203,000. Finally, Spire Wealth Management lifted its position in shares of Constellium by 11.2% during the third quarter. Spire Wealth Management now owns 10,338 shares of the industrial products company’s stock valued at $188,000 after purchasing an additional 1,042 shares in the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Constellium Price Performance

The company 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. The business’s 50-day moving average is $20.59 and its two-hundred day moving average is $18.92.

About Constellium

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.