Glatfelter Downgraded to “Neutral” at Zacks (GLT)
Glatfelter (NYSE:GLT) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, American Banking News reports. They currently have a $30.00 price target on the stock. Zacks‘ price objective would indicate a potential upside of 10.66% from the stock’s previous close.
Shares of Glatfelter (NYSE:GLT) traded up 0.15% during mid-day trading on Tuesday, hitting $27.11. The stock had a trading volume of 155,196 shares. Glatfelter has a 1-year low of $15.31 and a 1-year high of $28.21. The stock has a 50-day moving average of $26.28 and a 200-day moving average of $25.31. The company has a market cap of $1.168 billion and a price-to-earnings ratio of 27.07.
Glatfelter (NYSE:GLT) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.05. The company had revenue of $426.00 million for the quarter, compared to the consensus estimate of $425.20 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts expect that Glatfelter will post $1.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Friday, October 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Wednesday, October 2nd.
Separately, analysts at Deutsche Bank downgraded shares of Glatfelter (NYSE:GLT) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, July 9th. They now have a $26.00 price target on the stock. They noted that the move was a valuation call.
P. H. Glatfelter Company (NYSE:GLT) is a manufacturer of specialty papers and fiber-based engineered materials.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.