Ferroglobe PLC (GSM) Expected to Post Earnings of -$0.11 Per Share

Wall Street brokerages expect Ferroglobe PLC (NASDAQ:GSM) to report earnings per share of ($0.11) for the current quarter, according to Zacks. Four analysts have made estimates for Ferroglobe’s earnings. The highest EPS estimate is ($0.07) and the lowest is ($0.13). Ferroglobe posted earnings of $0.19 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 157.9%. The business is expected to announce its next earnings report on Monday, May 20th.

On average, analysts expect that Ferroglobe will report full year earnings of ($0.22) per share for the current fiscal year, with EPS estimates ranging from ($0.32) to ($0.15). For the next year, analysts expect that the firm will report earnings of $0.09 per share, with EPS estimates ranging from ($0.10) to $0.28. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Ferroglobe.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings results on Monday, February 25th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $603.50 million during the quarter, compared to analyst estimates of $486.22 million. Ferroglobe had a return on equity of 5.59% and a net margin of 3.94%. Ferroglobe’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 EPS.

Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered Ferroglobe from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub downgraded Ferroglobe from a “sell” rating to a “strong sell” rating in a report on Saturday, March 30th. Finally, ValuEngine upgraded Ferroglobe from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $8.74.

Shares of GSM traded up $0.01 during trading hours on Wednesday, hitting $2.35. The company had a trading volume of 189,607 shares, compared to its average volume of 1,048,859. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.78 and a quick ratio of 0.85. The firm has a market cap of $404.15 million, a PE ratio of 8.39 and a beta of 2.12. Ferroglobe has a 52-week low of $1.47 and a 52-week high of $13.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GSM. JPMorgan Chase & Co. increased its holdings in Ferroglobe by 46.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 636,293 shares of the basic materials company’s stock worth $5,199,000 after buying an additional 202,602 shares in the last quarter. BlackRock Inc. increased its holdings in Ferroglobe by 29.8% in the 3rd quarter. BlackRock Inc. now owns 248,410 shares of the basic materials company’s stock worth $2,030,000 after buying an additional 57,078 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Ferroglobe by 10.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,198,284 shares of the basic materials company’s stock worth $34,299,000 after buying an additional 392,804 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Ferroglobe in the 3rd quarter worth about $1,050,000. Finally, RBF Capital LLC bought a new stake in Ferroglobe in the 3rd quarter worth about $169,000. Institutional investors own 38.99% of the company’s stock.

About Ferroglobe

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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Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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