Globe Specialty Metals Rating Increased to Outperform at Zacks (GSM)
Globe Specialty Metals (NYSE:GSM) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Tuesday, StockRatingsNetwork reports. The firm currently has a $18.80 price objective on the stock. Zacks‘ price target indicates a potential upside of 5.80% from the company’s current price.
Globe Specialty Metals (NYSE:GSM) traded down 0.78% on Tuesday, hitting $17.77. 260,147 shares of the company’s stock traded hands. Globe Specialty Metals has a 52 week low of $10.57 and a 52 week high of $16.54. The stock’s 50-day moving average is $12.79 and its 200-day moving average is $12.72. The company’s market cap is $1.338 billion.
Globe Specialty Metals (NYSE:GSM) last released its earnings data on Wednesday, August 21st. The company reported $0.09 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, analysts predict that Globe Specialty Metals will post $0.47 earnings per share for the current fiscal year.
Several other analysts have also 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $17.20.
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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