GrafTech International (EAF) Given New $17.00 Price Target at Citigroup

GrafTech International (NYSE:EAF) had its price target trimmed by Citigroup from $21.00 to $17.00 in a report released on Monday, April 1st, The Fly reports. The brokerage currently has a buy rating on the stock.

Separately, Zacks Investment Research downgraded GrafTech International from a buy rating to a hold rating in a report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $23.70.

NYSE EAF opened at $12.46 on Monday. GrafTech International has a 52-week low of $10.27 and a 52-week high of $24.36. The company has a market capitalization of $4.05 billion and a PE ratio of 4.34.

GrafTech International (NYSE:EAF) last released its quarterly earnings data on Friday, February 8th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.08. GrafTech International had a negative return on equity of 100.98% and a net margin of 45.06%. The firm had revenue of $532.80 million for the quarter, compared to the consensus estimate of $487.67 million. The company’s quarterly revenue was up 176.8% compared to the same quarter last year. As a group, research analysts anticipate that GrafTech International will post 2.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 28th were given a $0.085 dividend. The ex-dividend date of this dividend was Wednesday, February 27th. This represents a $0.34 annualized dividend and a yield of 2.73%. GrafTech International’s dividend payout ratio (DPR) is currently 11.85%.

A number of hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. lifted its holdings in shares of GrafTech International by 61.0% during the third quarter. Macquarie Group Ltd. now owns 258,856 shares of the company’s stock valued at $5,050,000 after acquiring an additional 98,088 shares during the period. Reinhart Partners Inc. increased its stake in shares of GrafTech International by 37.3% in the fourth quarter. Reinhart Partners Inc. now owns 217,640 shares of the company’s stock valued at $2,490,000 after buying an additional 59,150 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of GrafTech International in the third quarter valued at $277,000. First Manhattan Co. increased its stake in shares of GrafTech International by 71.2% in the fourth quarter. First Manhattan Co. now owns 652,300 shares of the company’s stock valued at $7,462,000 after buying an additional 271,350 shares in the last quarter. Finally, Brookfield Asset Management Inc. acquired a new stake in shares of GrafTech International in the third quarter valued at $4,476,376,000.

About GrafTech International

GrafTech International Ltd. researches, develops, manufactures, and sells graphite and carbon based products worldwide. It offers graphite electrodes, which requires for the production of electric arc furnace steel, ferrous, and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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Analyst Recommendations for GrafTech International (NYSE:EAF)

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