Why Constellium NV's Shares Popped 20% Today
Shares of aluminum maker Constellium NV (NYSE: CSTM) jumped as much as 19.7% in trading Thursday after reporting third-quarter results that topped expectations. At 1:15 p.m. EDT shares were holding a 10.8% gain for the day.
Shipments fell 1% versus a year ago in Q3 2017 to 374,000 metric tons, but revenue was up 7% to 1.3 billion euros. Net income was up 40% to 21 million euros. Earnings on a per-share basis were 0.20 euros or $0.24, which is what analysts were comparing estimates to and their estimate was only for $0.18.
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Source: Fool.com
