Zacks: Brokerages Anticipate Ferroglobe PLC (GSM) Will Announce Earnings of -$0.05 Per Share

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Wall Street analysts predict that Ferroglobe PLC (NASDAQ:GSM) will announce earnings per share (EPS) of ($0.05) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Ferroglobe’s earnings, with the lowest EPS estimate coming in at ($0.07) and the highest estimate coming in at ($0.03). Ferroglobe reported earnings of $0.06 per share during the same quarter last year, which suggests a negative year over year growth rate of 183.3%. The business is scheduled to announce its next quarterly earnings report on Monday, February 25th.

On average, analysts expect that Ferroglobe will report full year earnings of $0.31 per share for the current year, with EPS estimates ranging from $0.30 to $0.32. For the next financial year, analysts expect that the firm will post earnings of ($0.03) per share, with EPS estimates ranging from ($0.21) to $0.22. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Ferroglobe.

Several brokerages recently issued reports on GSM. UBS Group lowered shares of Ferroglobe from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 27th. BidaskClub raised shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. Oppenheimer reaffirmed a “market perform” rating and set a $9.00 price target on shares of Ferroglobe in a report on Tuesday, November 27th. B. Riley decreased their price target on shares of Ferroglobe from $14.50 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, November 28th. Finally, CIBC reaffirmed a “market perform” rating on shares of Ferroglobe in a report on Tuesday, November 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Ferroglobe currently has a consensus rating of “Hold” and an average target price of $10.20.

Several institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new stake in Ferroglobe during the 3rd quarter worth approximately $114,000. Paloma Partners Management Co bought a new stake in Ferroglobe during the 2nd quarter worth approximately $161,000. RBF Capital LLC bought a new stake in Ferroglobe during the 3rd quarter worth approximately $169,000. Trellus Management Company LLC grew its holdings in Ferroglobe by 44.6% during the 3rd quarter. Trellus Management Company LLC now owns 27,473 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 8,473 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Ferroglobe during the 4th quarter worth approximately $71,000. 42.97% of the stock is currently owned by institutional investors.

GSM stock traded down $0.11 during mid-day trading on Thursday, hitting $2.29. The stock had a trading volume of 797,670 shares, compared to its average volume of 1,238,899. The company has a quick ratio of 0.68, a current ratio of 1.92 and a debt-to-equity ratio of 0.54. Ferroglobe has a 52 week low of $1.47 and a 52 week high of $17.40. The firm has a market cap of $412.75 million, a P/E ratio of 17.62 and a beta of 1.71.

Ferroglobe Company Profile

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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