Wall Street brokerages forecast that Ferroglobe PLC (NASDAQ:GSM) will report $569.72 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Ferroglobe’s earnings. The highest sales estimate is $587.55 million and the lowest is $535.82 million. Ferroglobe reported sales of $388.24 million in the same quarter last year, which indicates a positive year over year growth rate of 46.7%. The business is scheduled to report its next quarterly earnings report on Monday, May 21st.
On average, analysts expect that Ferroglobe will report full-year sales of $569.72 million for the current year, with estimates ranging from $2.42 billion to $2.57 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.56 billion per share, with estimates ranging from $2.48 billion to $2.65 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Ferroglobe.
Ferroglobe (NASDAQ:GSM) last announced its earnings results on Monday, February 26th. The basic materials company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Ferroglobe had a net margin of 1.45% and a return on equity of 2.32%. The company had revenue of $468.22 million for the quarter, compared to analyst estimates of $463.41 million. During the same quarter last year, the company posted ($0.09) EPS. Ferroglobe’s quarterly revenue was up 20.1% compared to the same quarter last year.
GSM has been the topic of several analyst reports. BidaskClub upgraded Ferroglobe from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. B. Riley restated a “buy” rating and set a $20.00 price objective (up previously from $16.00) on shares of Ferroglobe in a report on Wednesday, November 29th. Zacks Investment Research cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, ValuEngine cut Ferroglobe from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $19.50.
Shares of Ferroglobe (GSM) opened at $15.77 on Friday. Ferroglobe has a fifty-two week low of $8.54 and a fifty-two week high of $17.61. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $2,761.44, a price-to-earnings ratio of 105.13 and a beta of 1.35.
A number of large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc increased its position in shares of Ferroglobe by 108.3% during the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 5,400 shares during the last quarter. Invictus RG acquired a new position in shares of Ferroglobe during the third quarter worth approximately $146,000. Caxton Associates LP acquired a new position in shares of Ferroglobe during the third quarter worth approximately $151,000. Oppenheimer & Co. Inc. boosted its position in shares of Ferroglobe by 30.6% during the third quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock worth $209,000 after buying an additional 3,725 shares during the period. Finally, Quantbot Technologies LP boosted its position in shares of Ferroglobe by 77.1% during the third quarter. Quantbot Technologies LP now owns 15,913 shares of the basic materials company’s stock worth $209,000 after buying an additional 6,926 shares during the period. 41.20% of the stock is currently owned by institutional investors.
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Ferroglobe PLC, formerly VeloNewco Limited, is engaged in silicon and specialty metals industry. The Company produces silicon metal and silicon- and manganese-based alloy, which serves customers in the chemical, aluminum, solar, steel and ductile iron foundry industries. It operates through two segments: Electrometallurgy and Energy.
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