Globe Specialty Metals (GSM) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Globe Specialty Metals (NYSE:GSM) issued its quarterly earnings data on Tuesday. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.03, Stock Ratings Network reports. The company had revenue of $205.36 million for the quarter, compared to the consensus estimate of $205.53 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis.
Globe Specialty Metals (NYSE:GSM) traded up 1.87% during mid-day trading on Tuesday, hitting $19.60. The stock had a trading volume of 242,527 shares. Globe Specialty Metals has a 52 week low of $12.73 and a 52 week high of $22.00. The stock has a 50-day moving average of $19.98 and a 200-day moving average of $20.03. The company has a market cap of $1.447 billion and a price-to-earnings ratio of 80.50.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 24th. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, September 8th.
On a related note, analysts at BB&T Corp. raised their price target on shares of Globe Specialty Metals from $22.00 to $24.00 in a research note on Tuesday, July 22nd. They now have a “buy” rating on the stock.
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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