Analysts Expect Ferroglobe PLC (GSM) Will Announce Quarterly Sales of $426.84 Million
Wall Street analysts forecast that Ferroglobe PLC (NASDAQ:GSM) will report $426.84 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Ferroglobe PLC’s earnings, with the lowest sales estimate coming in at $405.85 million and the highest estimate coming in at $442.00 million. Ferroglobe PLC reported sales of $364.73 million in the same quarter last year, which indicates a positive year-over-year growth rate of 17%. The business is scheduled to report its next quarterly earnings report on Monday, November 13th.
On average, analysts expect that Ferroglobe PLC will report full-year sales of $426.84 million for the current year, with estimates ranging from $1.65 billion to $1.71 billion. For the next year, analysts expect that the firm will report sales of $1.96 billion per share, with estimates ranging from $1.86 billion to $2.09 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Ferroglobe PLC.
GSM has been the subject of several recent research reports. Jefferies Group LLC reissued a “positive” rating and issued a $17.00 price target (up from $12.00) on shares of Ferroglobe PLC in a research report on Friday, August 18th. B. Riley reissued a “buy” rating and issued a $16.00 price target (up from $14.25) on shares of Ferroglobe PLC in a research report on Tuesday, August 29th. Zacks Investment Research raised Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Wednesday, July 12th. Stifel Nicolaus reissued a “buy” rating on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. Finally, BidaskClub raised Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.40.
Shares of Ferroglobe PLC (NASDAQ:GSM) opened at 14.76 on Friday. Ferroglobe PLC has a 1-year low of $8.54 and a 1-year high of $15.09. The stock has a 50 day moving average price of $13.38 and a 200-day moving average price of $11.54. The stock’s market capitalization is $2.54 billion.
Hedge funds have recently made changes to their positions in the stock. Hosking Partners LLP grew its stake in Ferroglobe PLC by 1.6% during the 2nd quarter. Hosking Partners LLP now owns 450,794 shares of the basic materials company’s stock worth $5,387,000 after buying an additional 7,283 shares during the last quarter. Comerica Bank purchased a new position in Ferroglobe PLC during the 2nd quarter worth $2,899,000. Geode Capital Management LLC grew its stake in Ferroglobe PLC by 5.3% during the 1st quarter. Geode Capital Management LLC now owns 149,294 shares of the basic materials company’s stock worth $1,542,000 after buying an additional 7,523 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in Ferroglobe PLC during the 2nd quarter worth $2,289,000. Finally, Russell Investments Group Ltd. grew its stake in Ferroglobe PLC by 65.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,705,167 shares of the basic materials company’s stock worth $20,377,000 after buying an additional 676,104 shares during the last quarter. Hedge funds and other institutional investors own 38.50% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This story was first reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/analysts-expect-ferroglobe-plc-gsm-will-announce-quarterly-sales-of-426-84-million/1614115.html.
About Ferroglobe PLC
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ferroglobe PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferroglobe PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.