$0.38 Earnings Per Share Expected for Glatfelter (NYSE:GLT) This Quarter
Analysts expect Glatfelter (NYSE:GLT) to report earnings per share (EPS) of $0.38 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Glatfelter’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.42. Glatfelter posted earnings of $0.54 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 29.6%. The company is expected to issue its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Glatfelter will report full year earnings of $1.15 per share for the current year, with EPS estimates ranging from $1.05 to $1.25. For the next fiscal year, analysts anticipate that the company will report earnings of $1.44 per share, with EPS estimates ranging from $1.39 to $1.48. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Glatfelter.
Glatfelter (NYSE:GLT) last issued its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by $0.14. The firm had revenue of $387.30 million during the quarter, compared to analysts’ expectations of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. Glatfelter’s quarterly revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS.
GLT has been the topic of several analyst reports. Zacks Investment Research upgraded Glatfelter from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. TheStreet raised Glatfelter from a “c” rating to a “b-” rating in a report on Tuesday, May 2nd. BMO Capital Markets raised Glatfelter from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $23.00 to $24.00 in a report on Friday, May 5th. Finally, ValuEngine raised Glatfelter from a “hold” rating to a “buy” rating and set a $14.75 price objective for the company in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.69.
In other Glatfelter news, Director Nicholas Debenedictis purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the purchase, the director now owns 57,935 shares in the company, valued at approximately $1,020,814.70. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Dante C. Parrini purchased 5,800 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $17.28 per share, for a total transaction of $100,224.00. Following the purchase, the chairman now owns 128,043 shares of the company’s stock, valued at approximately $2,212,583.04. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of Glatfelter by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,810 shares of the basic materials company’s stock valued at $104,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Glatfelter by 73.5% in the second quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after buying an additional 2,376 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Glatfelter by 63.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after buying an additional 2,246 shares during the last quarter. Mason Street Advisors LLC boosted its stake in shares of Glatfelter by 7.0% in the first quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock worth $221,000 after buying an additional 669 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in shares of Glatfelter during the first quarter worth $242,000. Hedge funds and other institutional investors own 90.78% of the company’s stock.
Shares of Glatfelter (NYSE GLT) opened at 17.00 on Monday. Glatfelter has a 12 month low of $16.66 and a 12 month high of $25.59. The company has a 50-day moving average price of $19.22 and a 200-day moving average price of $20.58. The stock has a market cap of $740.91 million, a price-to-earnings ratio of 80.57 and a beta of 1.31.
P. H. Glatfelter Company is a manufacturer of specialty papers and fiber-based engineered materials. The Company operates through three business units: Composite Fibers, Advanced Airlaid Materials and Specialty Papers. Its Composite Fibers business unit is engaged in the sale of single-serve tea and coffee filtration papers, non-woven wallcovering materials, metallized papers, composite laminates papers, and various technically special papers, including substrates for electrical applications.
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