Ferroglobe PLC (GSM) to Issue Quarterly Dividend of $0.02 on March 30th

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Tuesday, February 17th. Shareholders of record on Monday, March 23rd will be given a dividend of 0.015 per share by the basic materials company on Monday, March 30th. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, March 23rd. This is a 7.1% increase from Ferroglobe’s previous quarterly dividend of $0.01.

Ferroglobe has a payout ratio of 8.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ferroglobe to earn $0.59 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 8.5%.

Ferroglobe Stock Performance

Shares of GSM opened at $5.02 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66. Ferroglobe has a 1 year low of $2.97 and a 1 year high of $5.74. The firm has a fifty day moving average of $4.91 and a 200-day moving average of $4.59. The company has a market cap of $936.88 million, a price-to-earnings ratio of -5.46 and a beta of 1.09.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Tuesday, February 17th. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.38%. The firm had revenue of $329.38 million during the quarter, compared to analyst estimates of $293.60 million. As a group, equities analysts anticipate that Ferroglobe will post 0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

GSM has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research report on Thursday, January 22nd. Wall Street Zen downgraded Ferroglobe from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. B. Riley Financial decreased their price target on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Finally, Zacks Research raised Ferroglobe from a “strong sell” rating to a “hold” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $6.00.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.