Globe Specialty Metals (GSM) Releases Quarterly Earnings Results
Globe Specialty Metals (NYSE:GSM) announced its earnings results on Friday. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14, ARN reports. The company had revenue of $196.06 million for the quarter, compared to the consensus estimate of $194.42 million. The company’s revenue for the quarter was up .1% on a year-over-year basis.
A number of research firms have recently commented on GSM. Analysts at Zacks upgraded shares of Globe Specialty Metals from a “neutral” rating to an “outperform” rating in a research note on Friday, May 2nd. They now have a $22.30 price target on the stock. On a related note, analysts at Oppenheimer raised their price target on shares of Globe Specialty Metals from $23.00 to $25.00 in a research note on Friday, April 11th. They now have an “outperform” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Globe Specialty Metals from $19.00 to $23.00 in a research note on Wednesday, February 26th. They now have an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Globe Specialty Metals currently has a consensus rating of “Buy” and an average price target of $20.95.
Shares of Globe Specialty Metals (NYSE:GSM) opened at 19.10 on Friday. Globe Specialty Metals has a one year low of $10.57 and a one year high of $22.00. The stock’s 50-day moving average is $20.16 and its 200-day moving average is $18.59. The company’s market cap is $1.421 billion.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, June 24th. Investors of record on Tuesday, June 10th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Friday, June 6th.
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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