Equities analysts forecast that Ferroglobe PLC (NASDAQ:GSM) will announce $566.05 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Ferroglobe’s earnings. The lowest sales estimate is $554.00 million and the highest is $581.64 million. Ferroglobe reported sales of $451.63 million in the same quarter last year, which indicates a positive year over year growth rate of 25.3%. The company is scheduled to report its next quarterly earnings results on Monday, November 26th.
On average, analysts expect that Ferroglobe will report full-year sales of $2.27 billion for the current financial year, with estimates ranging from $2.23 billion to $2.29 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.25 billion, with estimates ranging from $2.19 billion to $2.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Ferroglobe.
Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Tuesday, August 21st. The basic materials company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.05). Ferroglobe had a net margin of 6.44% and a return on equity of 8.53%. The firm had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $608.91 million. During the same quarter last year, the business posted $0.05 EPS. The company’s quarterly revenue was up 36.9% on a year-over-year basis.
Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group set a $10.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Monday, October 22nd. BidaskClub lowered shares of Ferroglobe from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 9th. Finally, Stifel Nicolaus decreased their price target on shares of Ferroglobe from $19.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, July 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Ferroglobe currently has a consensus rating of “Hold” and an average target price of $15.20.
Shares of GSM stock traded up $0.15 during trading hours on Friday, hitting $6.83. 314,900 shares of the company were exchanged, compared to its average volume of 791,434. 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 52-week low of $5.77 and a 52-week high of $17.61. The firm has a market cap of $1.15 billion, a P/E ratio of 52.54 and a beta of 1.67.
Several hedge funds have recently modified their holdings of the company. Trellus Management Company LLC increased its stake in shares of 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 purchasing an additional 8,473 shares during the last quarter. Palo Capital Inc. increased its stake in shares of Ferroglobe by 22.2% during the 2nd quarter. Palo Capital Inc. now owns 51,550 shares of the basic materials company’s stock worth $442,000 after purchasing an additional 9,355 shares during the last quarter. Wasatch Advisors Inc. increased its stake in shares of Ferroglobe by 5.4% during the 2nd quarter. Wasatch Advisors Inc. now owns 245,387 shares of the basic materials company’s stock worth $2,103,000 after purchasing an additional 12,504 shares during the last quarter. Stevens Capital Management LP bought a new position in Ferroglobe in the 2nd quarter worth approximately $118,000. Finally, Fox Run Management L.L.C. bought a new position in Ferroglobe in the 3rd quarter worth approximately $114,000. Institutional investors own 42.48% of the company’s stock.
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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