Ferroglobe (NASDAQ:GSM) Releases Earnings Results, Misses Expectations By $0.07 EPS

Ferroglobe (NASDAQ:GSM) released its earnings results on Wednesday. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07), Zacks reports. The company had revenue of $311.70 million for the quarter, compared to analysts’ expectations of $393.80 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%.

Ferroglobe Price Performance

Shares of GSM stock traded down $0.31 during mid-day trading on Friday, hitting $3.84. 597,029 shares of the stock were exchanged, compared to its average volume of 1,277,339. The company has a market cap of $715.71 million, a PE ratio of -6.73 and a beta of 1.83. Ferroglobe has a 52-week low of $2.97 and a 52-week high of $5.74. The company has a quick ratio of 0.98, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $4.63 and a 200 day moving average of $4.22.

Ferroglobe Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 22nd will be given a dividend of $0.014 per share. This represents a $0.06 annualized dividend and a yield of 1.5%. The ex-dividend date is Monday, December 22nd. Ferroglobe’s dividend payout ratio (DPR) is currently -8.77%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GSM. Wall Street Zen downgraded Ferroglobe from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Ferroglobe

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System acquired a new position in Ferroglobe during the second quarter worth $27,000. BNP Paribas Financial Markets raised its holdings in shares of Ferroglobe by 1,017,300.0% during the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 10,173 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Ferroglobe in the second quarter valued at approximately $51,000. New York State Common Retirement Fund increased its position in shares of Ferroglobe by 70.7% during the second quarter. New York State Common Retirement Fund now owns 37,800 shares of the basic materials company’s stock worth $139,000 after purchasing an additional 15,657 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Ferroglobe in the 2nd quarter valued at $155,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.