Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Tuesday, August 21st, NASDAQ reports. Stockholders of record on Wednesday, September 5th will be paid a dividend of 0.06 per share by the basic materials company on Thursday, September 20th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Tuesday, September 4th.
Ferroglobe has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Ferroglobe to earn $0.73 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 32.9%.
Shares of NASDAQ:GSM traded down $0.22 during midday trading on Thursday, reaching $8.31. The company’s stock had a trading volume of 13,552 shares, compared to its average volume of 1,166,391. The company has a market cap of $1.45 billion, a P/E ratio of 64.15 and a beta of 1.50. The company has a quick ratio of 0.68, a current ratio of 1.75 and a debt-to-equity ratio of 0.51. Ferroglobe has a 1 year low of $6.75 and a 1 year high of $17.61.
Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Tuesday, August 21st. The basic materials company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). The business had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $608.91 million. Ferroglobe had a net margin of 6.44% and a return on equity of 8.53%. Ferroglobe’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. sell-side analysts expect that Ferroglobe will post 0.66 earnings per share for the current fiscal year.
GSM has been the subject of a number of research reports. BidaskClub raised Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 21st. Jefferies Financial Group set a $10.00 price target on Ferroglobe and gave the company a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research downgraded Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 25th. Stifel Nicolaus lowered their price target on Ferroglobe from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 13th. Finally, TheStreet downgraded Ferroglobe from a “c-” rating to a “d+” rating in a research report on Friday, June 29th. Three research analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $15.33.
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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