Brokerages Expect Ferroglobe PLC (NASDAQ:GSM) Will Post Earnings of -$0.12 Per Share

Analysts expect that Ferroglobe PLC (NASDAQ:GSM) will announce ($0.12) earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for Ferroglobe’s earnings, with the highest EPS estimate coming in at ($0.06) and the lowest estimate coming in at ($0.15). Ferroglobe posted earnings per share of $0.14 in the same quarter last year, which would indicate a negative year over year growth rate of 185.7%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 20th.

According to Zacks, analysts expect that Ferroglobe will report full-year earnings of ($0.52) per share for the current year, with EPS estimates ranging from ($0.54) to ($0.49). For the next financial year, analysts expect that the business will post earnings of ($0.04) per share, with EPS estimates ranging from ($0.15) to $0.09. 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 earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share 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 analysts’ expectations of $481.09 million. Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. Ferroglobe’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the firm earned $0.19 earnings per share.

Several equities research analysts recently commented on the stock. ValuEngine raised shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. BidaskClub raised shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 11th. Zacks Investment Research lowered shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Friday, June 7th. Finally, B. Riley set a $5.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Ferroglobe presently has a consensus rating of “Hold” and a consensus target price of $5.57.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Miracle Mile Advisors LLC acquired a new stake in Ferroglobe during the 1st quarter worth $126,000. Legal & General Group Plc boosted its stake in Ferroglobe by 339.8% during the 4th quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock worth $105,000 after purchasing an additional 50,915 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Ferroglobe by 14.0% during the 2nd quarter. Wells Fargo & Company MN now owns 97,018 shares of the basic materials company’s stock worth $165,000 after purchasing an additional 11,947 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ferroglobe by 17.9% during the 4th quarter. Geode Capital Management LLC now owns 160,107 shares of the basic materials company’s stock worth $254,000 after purchasing an additional 24,256 shares during the last quarter. Finally, Two Sigma Advisers LP acquired a new stake in Ferroglobe during the 4th quarter worth $274,000. 37.57% of the stock is owned by institutional investors.

Shares of NASDAQ:GSM traded down $0.05 during trading on Friday, hitting $1.30. 12,568 shares of the stock traded hands, compared to its average volume of 306,391. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.81 and a current ratio of 1.74. The stock has a market capitalization of $245.23 million, a P/E ratio of 4.70 and a beta of 2.27. The business’s fifty day simple moving average is $1.62. Ferroglobe has a 52-week low of $1.32 and a 52-week high of $8.64.

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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