Ferroglobe (GSM) Rating Lowered to Strong Sell at BidaskClub

BidaskClub downgraded shares of Ferroglobe (NASDAQ:GSM) from a sell rating to a strong sell rating in a report issued on Tuesday morning.

A number of other equities research analysts also recently commented on GSM. Jefferies Financial Group set a $10.00 price objective on shares of Ferroglobe and gave the company a buy rating in a research report on Thursday, August 16th. Stifel Nicolaus reduced their price objective on shares of Ferroglobe from $19.00 to $13.00 and set a buy rating for the company in a research report on Friday, July 13th. TheStreet downgraded shares of Ferroglobe from a c- rating to a d+ rating in a research report on Friday, June 29th. Zacks Investment Research downgraded shares of Ferroglobe from a hold rating to a strong sell rating in a research report on Wednesday, July 25th. Finally, ValuEngine downgraded shares of Ferroglobe from a sell rating to a strong sell rating in a research report on Friday, June 15th. Three equities research analysts have rated the stock with a sell rating and five have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $15.20.

Shares of NASDAQ GSM traded down $0.19 during midday trading on Tuesday, reaching $6.63. 586,203 shares of the company were exchanged, compared to its average volume of 811,534. The company has a quick ratio of 0.68, a current ratio of 1.75 and a debt-to-equity ratio of 0.51. Ferroglobe has a 1 year low of $6.41 and a 1 year high of $17.61. The firm has a market cap of $1.41 billion, a P/E ratio of 51.00 and a beta of 1.53.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings results on Tuesday, August 21st. The basic materials company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). Ferroglobe had a return on equity of 8.53% and a net margin of 6.44%. The company had revenue of $583.00 million for the quarter, compared to analysts’ expectations of $608.91 million. During the same period in the prior year, the business earned $0.05 EPS. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. As a group, analysts anticipate that Ferroglobe will post 0.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 20th. Investors of record on Wednesday, September 5th were given a $0.06 dividend. The ex-dividend date was Tuesday, September 4th. This represents a $0.24 dividend on an annualized basis and a yield of 3.62%. Ferroglobe’s payout ratio is currently 184.62%.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can lifted its position in shares of Ferroglobe by 25.8% during the 3rd quarter. Bank of Montreal Can now owns 81,302 shares of the basic materials company’s stock valued at $664,000 after acquiring an additional 16,694 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Ferroglobe during the 3rd quarter valued at approximately $114,000. Millennium Management LLC lifted its position in shares of Ferroglobe by 22.1% during the 2nd quarter. Millennium Management LLC now owns 6,839,987 shares of the basic materials company’s stock valued at $58,619,000 after acquiring an additional 1,237,649 shares during the period. Ardsley Advisory Partners lifted its position in shares of Ferroglobe by 95.0% during the 2nd quarter. Ardsley Advisory Partners now owns 390,000 shares of the basic materials company’s stock valued at $3,342,000 after acquiring an additional 190,000 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of Ferroglobe during the 2nd quarter valued at approximately $161,000. Institutional investors own 41.29% of the company’s stock.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

Further Reading: Buyback

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