Globe Specialty Metals Given New $16.50 Price Target at Jefferies Group (GSM)
Research analysts at Jefferies Group upped their price target on shares of Globe Specialty Metals (NYSE:GSM) from $13.50 to $16.50 in a report released on Friday, Stock Ratings News reports. The firm currently has a “hold” rating on the stock. Jefferies Group’s target price would indicate a potential downside of 5.23% from the stock’s previous close.
Shares of Globe Specialty Metals (NYSE:GSM) traded down 0.51% on Friday, hitting $17.41. 723,371 shares of the company’s stock traded hands. Globe Specialty Metals has a 1-year low of $10.57 and a 1-year high of $16.54. The stock has a 50-day moving average of $16.35 and a 200-day moving average of $13.3. The company’s market cap is $1.311 billion.
Globe Specialty Metals (NYSE:GSM) last issued its quarterly 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. Analysts expect that Globe Specialty Metals will post $0.45 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Globe Specialty Metals from a “neutral” rating to an “outperform” rating in a research note to investors on Tuesday, October 22nd. They now have a $18.80 price target on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.58.
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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