GrafTech International (EAF) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

GrafTech International (NYSE:EAF) announced its quarterly earnings results on Friday. The company reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.11, MarketWatch Earnings reports. GrafTech International had a net margin of 38.52% and a negative return on equity of 1,837.51%. The firm had revenue of $454.90 million during the quarter, compared to analysts’ expectations of $426.50 million. The company’s revenue was up 231.3% compared to the same quarter last year.

NYSE:EAF opened at $17.17 on Friday. GrafTech International has a 52 week low of $14.00 and a 52 week high of $24.36.

In related news, Director Gp Ltd Bcp sold 34,688,311 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $19.75, for a total transaction of $685,094,142.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in GrafTech International during the 2nd quarter valued at approximately $25,015,000. Federated Investors Inc. PA acquired a new position in GrafTech International during the 2nd quarter valued at approximately $68,574,000. First Mercantile Trust Co. acquired a new position in GrafTech International during the 2nd quarter valued at approximately $231,000. Macquarie Group Ltd. acquired a new position in GrafTech International during the 2nd quarter valued at approximately $2,892,000. Finally, Schroder Investment Management Group acquired a new position in GrafTech International during the 2nd quarter valued at approximately $66,218,000. Institutional investors and hedge funds own 15.43% of the company’s stock.

EAF has been the subject of a number of analyst reports. Zacks Investment Research cut shares of GrafTech International from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. BMO Capital Markets increased their target price on shares of GrafTech International from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, August 6th. Vertical Group initiated coverage on shares of GrafTech International in a research report on Wednesday, August 1st. They set a “buy” rating for the company. Finally, Vertical Research initiated coverage on shares of GrafTech International in a research report on Wednesday, August 1st. They set a “buy” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. GrafTech International presently has an average rating of “Buy” and an average target price of $26.60.

GrafTech International Company Profile

GrafTech International Ltd. researches, develops, manufactures, and sells synthetic and natural graphite and carbon based products worldwide. It offers graphite electrodes, which are components of the conductive power systems used to produce steel and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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