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News Breaks
July 25, 2014
08:07 EDTCSTMConstellium downgraded to Buy from Conviction Buy at Goldman
Goldman removed Constellium from the Conviction Buy List based on lack of near-term catalysts. Price target lowered to $36 from $40.
News For CSTM From The Last 14 Days
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November 20, 2014
09:22 EDTCSTMMorgan Stanley remains bullish on US aluminum
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06:13 EDTCSTMConstellium downgraded to Neutral from Buy at Citigroup
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November 19, 2014
12:28 EDTCSTMConstellium risk/reward attractive, says Morgan Stanley
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10:21 EDTCSTMHigh option volume stocks
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05:35 EDTCSTMConstellium sees FY15 A&T adjusted EBITDA below current year performance
In October, Constellium renewed an operational and supplier contract arrangement at less favorable rates which will have an estimated adverse impact on the A&T Adjusted EBITDA of between 10-15 million annually starting in 2015. Additionally, Constellium is facing challenges from customer program delays, which may impact future sales of higher value-add products in the A&T segment. During late October, the company's Ravenswood facility experienced a five-day hot mill outage following a scheduled maintenance which we expect will impact Q4 A&T 2014 results by EUR 5M. The company anticipates that capacity constraints in A&T will require additional maintenance in Q4 and throughout 2015. The company plans to accelerate its investments to debottleneck it overall capacity, including the installation of a new pusher furnace at the company's Ravenswood facility at a total cost of EUR 40M. As these improvements are implemented, the company expects A&T's 2015 Adjusted EBITDA to be below the company's current year performance.
05:31 EDTCSTMConstellium reports Q3 EPS ex-items EUR 0.31 vs. EUR 0.22 last year
05:29 EDTCSTMConstellium reports Q3 EPS EUR 0.11 vs. EUR 0.43 last year
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November 18, 2014
15:21 EDTCSTMNotable companies reporting before tomorrow's open
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06:33 EDTCSTMConstellium initiated with a Market Perform at BMO Capital
Target $24.
November 17, 2014
06:29 EDTCSTMConstellium upgraded to Outperform from Market Perform at Bernstein
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