Glatfelter (GLT) Set to Announce Quarterly Earnings on Tuesday
Glatfelter (NYSE:GLT) is scheduled to issue its quarterly earnings data before the market opens on Tuesday, October 31st. Analysts expect the company to announce earnings of $0.40 per share for the quarter.
Glatfelter (NYSE:GLT) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.14). The business had revenue of $387.30 million for the quarter, compared to the consensus estimate of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.06 EPS. On average, analysts expect Glatfelter to post $1.15 EPS for the current fiscal year and $1.44 EPS for the next fiscal year.
Glatfelter (NYSE:GLT) opened at 18.82 on Tuesday. The company has a market cap of $820.23 million, a P/E ratio of 89.19 and a beta of 1.34. The stock’s 50 day moving average is $18.60 and its 200-day moving average is $18.93. Glatfelter has a 12-month low of $16.53 and a 12-month high of $25.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Wednesday, October 11th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, October 10th. Glatfelter’s dividend payout ratio is presently 260.01%.
Several analysts have issued reports on GLT shares. Zacks Investment Research lowered shares of Glatfelter from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 3rd. ValuEngine raised shares of Glatfelter from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, BidaskClub lowered shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Glatfelter has a consensus rating of “Hold” and an average target price of $21.25.
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In related news, Chairman Dante C. Parrini acquired 5,800 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were purchased at an average cost of $17.28 per share, for a total transaction of $100,224.00. Following the completion of the acquisition, the chairman now directly owns 128,043 shares in the company, valued at $2,212,583.04. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Nicholas Debenedictis acquired 5,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the acquisition, the director now owns 57,935 shares of the company’s stock, valued at $1,020,814.70. The disclosure for this purchase can be found here. Corporate insiders own 2.30% of the company’s stock.
Glatfelter Company Profile
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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