Zacks: Brokerages Anticipate Ferroglobe (GSM) to Announce $0.24 EPS

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Brokerages expect Ferroglobe (NASDAQ:GSM) to report earnings of $0.24 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Ferroglobe’s earnings. The highest EPS estimate is $0.32 and the lowest is $0.21. Ferroglobe posted earnings of $0.05 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 380%. The firm is scheduled to report its next earnings results on Tuesday, September 4th.

According to Zacks, analysts expect that Ferroglobe will report full-year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.80 to $1.20. For the next fiscal year, analysts forecast that the company will post earnings of $1.07 per share, with EPS estimates ranging from $0.92 to $1.34. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Ferroglobe.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Monday, May 21st. The basic materials company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The business had revenue of $560.70 million for the quarter, compared to the consensus estimate of $559.12 million. Ferroglobe had a return on equity of 6.86% and a net margin of 3.59%.

Several equities research analysts recently commented on GSM shares. Oppenheimer reiterated a “buy” rating and set a $20.00 target price on shares of Ferroglobe in a report on Friday, March 23rd. ValuEngine upgraded Ferroglobe from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. TheStreet downgraded Ferroglobe from a “b” rating to a “c-” rating in a report on Monday, May 7th. BidaskClub upgraded Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 23rd. Finally, JPMorgan Chase & Co. upgraded Ferroglobe from a “neutral” rating to an “overweight” rating in a report on Monday, March 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.50.

Hedge funds have recently bought and sold shares of the business. Castleark Management LLC purchased a new stake in Ferroglobe during the 4th quarter worth approximately $7,340,000. PEAK6 Investments L.P. increased its holdings in Ferroglobe by 107.8% during the 4th quarter. PEAK6 Investments L.P. now owns 19,705 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 10,221 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Ferroglobe during the 4th quarter worth approximately $2,060,000. Raymond James & Associates purchased a new stake in Ferroglobe during the 4th quarter worth approximately $2,267,000. Finally, Goldman Sachs Group Inc. increased its holdings in Ferroglobe by 93.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 458,634 shares of the basic materials company’s stock worth $7,430,000 after purchasing an additional 221,245 shares during the last quarter. Institutional investors own 44.02% of the company’s stock.

Shares of NASDAQ:GSM traded down $0.39 during mid-day trading on Monday, hitting $8.71. 600,109 shares of the company traded hands, compared to its average volume of 796,354. The company has a market cap of $1.56 billion, a P/E ratio of 67.00 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.66 and a current ratio of 1.54. Ferroglobe has a 52-week low of $8.65 and a 52-week high of $17.61.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 8th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, June 7th. This represents a $0.24 annualized dividend and a yield of 2.76%. Ferroglobe’s dividend payout ratio is presently 184.62%.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

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Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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