B. Riley Reiterates Buy Rating for Globe Specialty Metals (GSM)
Globe Specialty Metals (NYSE:GSM)‘s stock had its “buy” rating restated by analysts at B. Riley in a research report issued to clients and investors on Thursday. They currently have a $22.00 target price on the stock, up from their previous target price of $21.50. B. Riley’s price target would indicate a potential upside of 7.58% from the company’s current price.
Separately, 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.
Shares of Globe Specialty Metals (NYSE:GSM) remained flat at $20.45 during trading on Thursday. The stock had a trading volume of 64,310 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. and a 200-day moving average of $20.05. The company has a market cap of $1.509 billion and a P/E ratio of 107.63.
Globe Specialty Metals (NYSE:GSM) last issued its quarterly earnings data on Tuesday, August 26th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.15 by $0.03. 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 prior year, the company posted $0.09 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts predict that Globe Specialty Metals will post $0.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 24th. Shareholders 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 1.47%. The ex-dividend date of this dividend is Monday, September 8th.
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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