-$0.12 Earnings Per Share Expected for Ferroglobe PLC (NASDAQ:GSM) This Quarter

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Brokerages forecast that Ferroglobe PLC (NASDAQ:GSM) will post ($0.12) earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ferroglobe’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.15). Ferroglobe reported earnings of $0.14 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 185.7%. The business is expected to report its next quarterly earnings report on Tuesday, August 20th.

On average, analysts expect that Ferroglobe will report full year earnings of ($0.52) per share for the current fiscal year, with EPS estimates ranging from ($0.54) to ($0.49). For the next year, analysts anticipate that the firm will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.15) to $0.09. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ferroglobe.

Ferroglobe (NASDAQ:GSM) last posted its earnings results on Monday, June 3rd. The basic materials company reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.02). Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. The business had revenue of $456.79 million for the quarter, compared to analyst estimates of $481.09 million. During the same quarter last year, the business earned $0.19 earnings per share. Ferroglobe’s revenue was down 18.5% on a year-over-year basis.

Several research firms have recently commented on GSM. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Zacks Investment Research downgraded shares of Home Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 11th. Finally, B. Riley set a $26.00 target price on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a research note on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Ferroglobe has an average rating of “Hold” and a consensus price target of $5.57.

GSM traded up $0.01 during trading on Wednesday, reaching $1.66. The company’s stock had a trading volume of 5,128 shares, compared to its average volume of 526,118. The company has a current ratio of 1.74, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $1.62. Ferroglobe has a 1 year low of $1.44 and a 1 year high of $8.64. The company has a market capitalization of $280.74 million, a P/E ratio of 5.93 and a beta of 2.28.

Several hedge funds have recently added to or reduced their stakes in GSM. Royce & Associates LP boosted its stake in shares of Ferroglobe by 757.1% in the fourth quarter. Royce & Associates LP now owns 863,100 shares of the basic materials company’s stock worth $1,372,000 after acquiring an additional 762,400 shares during the period. Northern Trust Corp raised its holdings in shares of Ferroglobe by 2.6% in the fourth quarter. Northern Trust Corp now owns 185,446 shares of the basic materials company’s stock worth $295,000 after buying an additional 4,642 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Ferroglobe in the fourth quarter worth approximately $203,000. Dimensional Fund Advisors LP grew its stake in Ferroglobe by 4.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,397,692 shares of the basic materials company’s stock worth $6,993,000 after purchasing an additional 199,408 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Ferroglobe by 17.9% in the fourth quarter. Geode Capital Management LLC now owns 160,107 shares of the basic materials company’s stock worth $254,000 after purchasing an additional 24,256 shares in the last quarter. Institutional investors and hedge funds own 37.59% of the company’s stock.

About Ferroglobe

Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.

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Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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