Equities analysts expect that Glatfelter (NYSE:GLT) will announce $400.02 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Glatfelter’s earnings, with the highest sales estimate coming in at $402.53 million and the lowest estimate coming in at $397.51 million. Glatfelter reported sales of $406.65 million during the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, October 31st.
According to Zacks, analysts expect that Glatfelter will report full-year sales of $400.02 million for the current fiscal year. For the next fiscal year, analysts expect that the firm will report sales of $1.60 billion per share, with estimates ranging from $1.55 billion to $1.64 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Glatfelter.
Glatfelter (NYSE:GLT) last announced its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.14). Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The firm had revenue of $387.30 million for the quarter, compared to analyst estimates of $394.84 million. During the same period last year, the firm earned $0.06 earnings per share. Glatfelter’s revenue for the quarter was down 4.7% compared to the same quarter last year.
GLT has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub cut shares of Glatfelter from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, ValuEngine cut shares of Glatfelter from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.25.
In other Glatfelter news, Chairman Dante C. Parrini purchased 5,800 shares of the 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 purchase, the chairman now owns 128,043 shares of the company’s stock, valued at $2,212,583.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Nicholas Debenedictis purchased 5,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $17.62 per share, for a total transaction of $88,100.00. Following the completion of the purchase, the director now directly owns 57,935 shares in the company, valued at approximately $1,020,814.70. The disclosure for this purchase can be found here. Company insiders own 2.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of GLT. Bank of Montreal Can increased its stake in Glatfelter by 73.5% in the 2nd quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock valued at $110,000 after buying an additional 2,376 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Glatfelter by 63.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock valued at $126,000 after buying an additional 2,246 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Glatfelter by 10.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,828 shares of the basic materials company’s stock valued at $133,000 after buying an additional 638 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Glatfelter by 78.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,597 shares of the basic materials company’s stock valued at $167,000 after buying an additional 3,787 shares during the last quarter. Finally, Mason Street Advisors LLC increased its stake in Glatfelter by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock valued at $221,000 after buying an additional 669 shares during the last quarter. Hedge funds and other institutional investors own 89.36% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 11th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, October 10th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.75%. Glatfelter’s payout ratio is 260.01%.
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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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