Globe Specialty Metals Inc. Sets New 1-Year High at $17.38 (GSM)
Globe Specialty Metals (NYSE:GSM) set a new 52-week high during trading hours on Friday, American Banking News.com reports. The company traded as high as $17.38 and last traded at $17.38, with a volume of 394,439 shares. The stock had previously closed at $17.19.
Several analysts have recently commented on the stock. Analysts at B. Riley upgraded shares of Globe Specialty Metals from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 16th. Separately, analysts at BB&T Corp. upgraded shares of Globe Specialty Metals from a “hold” rating to a “buy” rating in a research note to investors on Friday, September 13th. They now have a $18.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Globe Specialty Metals from $15.00 to $17.00 in a research note to investors on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Globe Specialty Metals presently has an average rating of “Buy” and a consensus price target of $15.60.
Globe Specialty Metals has a 1-year low of $10.57 and a 1-year high of $17.20. The stock has a 50-day moving average of $14. and a 200-day moving average of $12.96. The company’s market cap is $1.312 billion.
Globe Specialty Metals (NYSE:GSM) last issued its quarterly earnings data on Wednesday, August 21st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $181.10 million for the quarter, compared to the consensus estimate of $189.77 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts expect that Globe Specialty Metals will post $0.47 EPS for the current fiscal year.
Globe Specialty Metals, Inc (NYSE:GSM), is a producer of silicon metal and silicon-based alloys, with approximately 120,000 metric tons (MT) of silicon metal capacity (excluding Dow Corning Corporation’s portion of the capacity of its Alloy, West Virginia plant) and 120,000 MT of silicon-based alloys capacity.
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