Ferroglobe PLC (GSM) Expected to Announce Earnings of $0.03 Per Share
Analysts forecast that Ferroglobe PLC (NASDAQ:GSM) will report $0.03 earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Ferroglobe PLC’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.01. Ferroglobe PLC reported earnings per share of ($0.09) during the same quarter last year, which suggests a positive year-over-year growth rate of 133.3%. The firm is scheduled to report its next quarterly earnings results on Monday, November 13th.
On average, analysts expect that Ferroglobe PLC will report full year earnings of $0.08 per share for the current financial year, with EPS estimates ranging from $0.04 to $0.13. For the next financial year, analysts forecast that the firm will post earnings of $0.92 per share, with EPS estimates ranging from $0.70 to $1.10. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Ferroglobe PLC.
A number of brokerages have commented on GSM. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. BidaskClub cut Ferroglobe PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research cut Ferroglobe PLC from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $16.75 price objective (down previously from $17.00) on shares of Ferroglobe PLC in a report on Thursday, August 31st. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $15.60.
Hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Ferroglobe PLC in the 1st quarter valued at about $100,000. Budros Ruhlin & Roe Inc. increased its stake in shares of Ferroglobe PLC by 17.2% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 2,000 shares in the last quarter. Invictus RG purchased a new position in shares of Ferroglobe PLC in the 1st quarter valued at about $154,000. Balter Liquid Alternatives LLC purchased a new position in shares of Ferroglobe PLC in the 2nd quarter valued at about $437,000. Finally, American International Group Inc. increased its stake in shares of Ferroglobe PLC by 7.1% in the 1st quarter. American International Group Inc. now owns 40,274 shares of the basic materials company’s stock valued at $416,000 after purchasing an additional 2,664 shares in the last quarter. 38.30% of the stock is owned by institutional investors and hedge funds.
Ferroglobe PLC (NASDAQ GSM) traded up 0.80% during mid-day trading on Tuesday, reaching $15.19. The company had a trading volume of 446,219 shares. The stock’s 50-day moving average price is $13.71 and its 200 day moving average price is $11.91. The firm’s market capitalization is $2.61 billion. Ferroglobe PLC has a 52 week low of $8.54 and a 52 week high of $15.32.
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Ferroglobe PLC Company Profile
Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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