$0.16 Earnings Per Share Expected for Ferroglobe PLC (GSM) This Quarter

Wall Street brokerages forecast that Ferroglobe PLC (NASDAQ:GSM) will report $0.16 earnings per share for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Ferroglobe’s earnings. The highest EPS estimate is $0.19 and the lowest is $0.13. Ferroglobe reported earnings of $0.05 per share during the same quarter last year, which would indicate a positive year over year growth rate of 220%. The business is expected to announce its next quarterly earnings report on Monday, November 26th.

On average, analysts expect that Ferroglobe will report full-year earnings of $0.65 per share for the current year, with EPS estimates ranging from $0.58 to $0.72. For the next financial year, analysts expect that the company will report earnings of $0.73 per share, with EPS estimates ranging from $0.37 to $0.87. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ferroglobe.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Tuesday, August 21st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.05). The company had revenue of $583.00 million for the quarter, compared to the consensus estimate of $608.91 million. Ferroglobe had a return on equity of 8.53% and a net margin of 6.44%. The firm’s revenue for the quarter was up 36.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share.



Several research analysts recently issued reports on the company. Zacks Investment Research raised Ferroglobe from a “sell” rating to a “hold” rating in a research report on Monday, October 22nd. BidaskClub lowered Ferroglobe from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 9th. Jefferies Financial Group set a $10.00 target price on Ferroglobe and gave the stock a “buy” rating in a research report on Thursday, August 16th. Finally, Stifel Nicolaus lowered their target price on Ferroglobe from $19.00 to $13.00 and set a “buy” rating for the company in a research report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.20.

Several hedge funds have recently bought and sold shares of GSM. Verition Fund Management LLC bought a new position in shares of Ferroglobe in the 1st quarter worth about $216,000. Harbour Capital Advisors LLC bought a new position in shares of Ferroglobe in the 2nd quarter worth about $203,000. Palo Capital Inc. raised its position in shares of Ferroglobe by 22.2% in the 2nd quarter. Palo Capital Inc. now owns 51,550 shares of the basic materials company’s stock worth $442,000 after acquiring an additional 9,355 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Ferroglobe by 4.2% in the 2nd quarter. Acadian Asset Management LLC now owns 812,257 shares of the basic materials company’s stock worth $6,961,000 after acquiring an additional 32,846 shares in the last quarter. Finally, Trellus Management Company LLC bought a new position in shares of Ferroglobe in the 2nd quarter worth about $163,000. 41.39% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:GSM opened at $5.98 on Wednesday. The firm has a market cap of $1.04 billion, a P/E ratio of 46.00 and a beta of 1.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.75 and a quick ratio of 0.68. Ferroglobe has a 12-month low of $5.77 and a 12-month high of $17.61.

About Ferroglobe

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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