FY2017 Earnings Forecast for Ferroglobe PLC Issued By Jefferies Group (GSM)

Ferroglobe PLC (NASDAQ:GSM) – Stock analysts at Jefferies Group increased their FY2017 EPS estimates for Ferroglobe in a research report issued to clients and investors on Tuesday. Jefferies Group analyst M. Englert now expects that the basic materials company will earn $0.12 per share for the year, up from their previous forecast of $0.04. Jefferies Group currently has a “Buy” rating and a $18.00 target price on the stock. Jefferies Group also issued estimates for Ferroglobe’s FY2019 earnings at $0.88 EPS and FY2020 earnings at $1.05 EPS.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. The company had revenue of $451.60 million during the quarter, compared to analyst estimates of $435.15 million. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The company’s revenue was up 23.8% compared to the same quarter last year.

A number of other equities research analysts have also recently weighed in on GSM. B. Riley restated a “buy” rating and set a $20.00 price objective (up from $16.00) on shares of Ferroglobe in a research note on Wednesday, November 22nd. Stifel Nicolaus increased their price objective on Ferroglobe from $19.00 to $22.00 and gave the company a “buy” rating in a report on Thursday, October 26th. Zacks Investment Research raised Ferroglobe from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Wednesday, August 23rd. Finally, BidaskClub cut Ferroglobe from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 16th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.00.

Ferroglobe (GSM) traded up $0.37 during midday trading on Friday, hitting $16.32. The stock had a trading volume of 448,900 shares, compared to its average volume of 789,578. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.42 and a current ratio of 1.80. Ferroglobe has a 52-week low of $8.54 and a 52-week high of $16.50.

A number of large investors have recently modified their holdings of the business. Hosking Partners LLP lifted its stake in Ferroglobe by 1.6% in the second quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock worth $5,387,000 after acquiring an additional 7,283 shares during the period. Comerica Bank purchased a new position in Ferroglobe in the 2nd quarter worth approximately $2,899,000. Geode Capital Management LLC increased its position in shares of Ferroglobe by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock valued at $1,542,000 after purchasing an additional 7,523 shares during the last quarter. Chicago Equity Partners LLC purchased a new stake in Ferroglobe in the second quarter worth $2,289,000. Finally, BlueCrest Capital Management Ltd lifted its stake in Ferroglobe by 356.3% in the second quarter. BlueCrest Capital Management Ltd now owns 54,334 shares of the basic materials company’s stock worth $649,000 after acquiring an additional 42,427 shares during the period. 36.62% of the stock is owned by hedge funds and other institutional investors.

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Ferroglobe 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.

Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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