GrafTech International (EAF) Cut to “Sell” at Zacks Investment Research

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Zacks Investment Research cut shares of GrafTech International (NYSE:EAF) from a hold rating to a sell rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “GrafTech International Ltd. manufactures and provides natural and synthetic graphite and carbon based products and services. The Company offers graphite electrodes, petroleum needle coke, crystalline form of carbon and energy solutions for manufacture of steel, aluminum, silicon metal, automotive products and electronics. GrafTech International Ltd. is based in Independence, United States. “

Separately, Citigroup lowered shares of GrafTech International from a buy rating to a sell rating and set a $13.93 price target for the company. in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating and three have issued a buy rating to the stock. GrafTech International currently has an average rating of Hold and an average price target of $22.59.

Shares of EAF stock opened at $10.95 on Wednesday. The firm has a market cap of $3.18 billion and a price-to-earnings ratio of 3.82. GrafTech International has a 12 month low of $10.27 and a 12 month high of $24.36.

GrafTech International (NYSE:EAF) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.68 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.06. The business had revenue of $474.99 million during the quarter, compared to analyst estimates of $472.36 million. GrafTech International had a net margin of 43.15% and a negative return on equity of 83.18%. GrafTech International’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. On average, equities research analysts forecast that GrafTech International will post 2.8 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.085 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.34 dividend on an annualized basis and a yield of 3.11%. GrafTech International’s dividend payout ratio (DPR) is presently 11.85%.

A number of hedge funds have recently made changes to their positions in EAF. Norges Bank bought a new stake in GrafTech International during the 4th quarter valued at $56,907,000. BlackRock Inc. boosted its holdings in GrafTech International by 57.7% during the 1st quarter. BlackRock Inc. now owns 3,812,229 shares of the company’s stock worth $48,759,000 after acquiring an additional 1,394,440 shares during the last quarter. Vanguard Group Inc boosted its holdings in GrafTech International by 38.3% during the 3rd quarter. Vanguard Group Inc now owns 4,789,754 shares of the company’s stock worth $93,448,000 after acquiring an additional 1,325,892 shares during the last quarter. Vanguard Group Inc. boosted its holdings in GrafTech International by 38.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,789,754 shares of the company’s stock worth $93,448,000 after acquiring an additional 1,325,892 shares during the last quarter. Finally, Lancaster Investment Management LLP purchased a new position in GrafTech International during the 4th quarter worth $13,553,000.

GrafTech International Company Profile

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, ferrous, and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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