Equities analysts predict that Ferroglobe PLC (NASDAQ:GSM) will announce $446.01 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ferroglobe’s earnings, with the lowest sales estimate coming in at $427.74 million and the highest estimate coming in at $471.30 million. Ferroglobe reported sales of $582.98 million in the same quarter last year, which indicates a negative year over year growth rate of 23.5%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 20th.
On average, analysts expect that Ferroglobe will report full year sales of $1.81 billion for the current financial year, with estimates ranging from $1.76 billion to $1.92 billion. For the next year, analysts forecast that the firm will report sales of $1.93 billion, with estimates ranging from $1.76 billion to $2.01 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ferroglobe.
Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $456.79 million for the quarter, compared to the consensus estimate of $481.09 million. Ferroglobe had a negative return on equity of 0.37% and a net margin of 1.20%. The firm’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.19 EPS.
A number of equities analysts have issued reports on the stock. BidaskClub downgraded shares of Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. B. Riley set a $26.00 price objective on shares of Abercrombie & Fitch and gave the stock a “hold” rating in a report on Wednesday, June 5th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Zacks Investment Research downgraded shares of Home Bancshares from a “hold” rating to a “sell” rating in a report on Friday, June 7th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.57.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC purchased a new stake in Ferroglobe during the fourth quarter valued at about $59,000. Legal & General Group Plc increased its position in shares of Ferroglobe by 339.8% during the fourth quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock valued at $105,000 after buying an additional 50,915 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Ferroglobe during the fourth quarter valued at about $112,000. Miracle Mile Advisors LLC bought a new stake in shares of Ferroglobe during the first quarter valued at about $126,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ferroglobe during the fourth quarter valued at about $203,000. 37.59% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:GSM traded down $0.01 during mid-day trading on Friday, hitting $1.67. The company had a trading volume of 237,800 shares, compared to its average volume of 808,135. The company has a fifty day moving average of $1.63. The firm has a market capitalization of $284.13 million, a P/E ratio of 5.96 and a beta of 2.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.74 and a quick ratio of 0.81. Ferroglobe has a one year low of $1.44 and a one year high of $8.64.
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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