Ferroglobe PLC (NASDAQ:GSM) – Analysts at Jefferies Financial Group dropped their Q2 2018 earnings per share (EPS) estimates for shares of Ferroglobe in a research note issued to investors on Thursday, August 16th. Jefferies Financial Group analyst M. Englert now anticipates that the basic materials company will post earnings of $0.15 per share for the quarter, down from their prior forecast of $0.21. Jefferies Financial Group has a “Buy” rating and a $10.00 price target on the stock. Jefferies Financial Group also issued estimates for Ferroglobe’s Q3 2018 earnings at $0.14 EPS, Q4 2018 earnings at $0.11 EPS, FY2018 earnings at $0.62 EPS, FY2019 earnings at $0.40 EPS and FY2020 earnings at $0.53 EPS.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings data on Monday, May 21st. The basic materials company reported $0.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. Ferroglobe had a return on equity of 6.86% and a net margin of 3.59%. The company had revenue of $560.70 million during the quarter, compared to the consensus estimate of $559.12 million.

GSM has been the subject of a number of other research reports. JPMorgan Chase & Co. raised their price objective on Ferroglobe from $13.50 to $15.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 23rd. BidaskClub downgraded Ferroglobe from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 5th. Zacks Investment Research upgraded Ferroglobe from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. B. Riley dropped their target price on Ferroglobe from $20.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, May 23rd. Finally, Oppenheimer reissued a “buy” rating on shares of Ferroglobe in a report on Tuesday, May 8th. Three equities research analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.33.

Shares of GSM stock opened at $8.03 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.54 and a debt-to-equity ratio of 0.49. Ferroglobe has a 12 month low of $6.75 and a 12 month high of $17.61. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 61.77 and a beta of 1.50.

Several institutional investors and hedge funds have recently modified their holdings of the company. Palo Capital Inc. raised its holdings in shares of Ferroglobe by 22.2% in the 2nd quarter. Palo Capital Inc. now owns 51,550 shares of the basic materials company’s stock worth $442,000 after buying an additional 9,355 shares in the last quarter. Bayesian Capital Management LP acquired a new position in shares of Ferroglobe in the 1st quarter worth approximately $110,000. Clinton Group Inc. acquired a new position in shares of Ferroglobe in the 1st quarter worth approximately $116,000. Trexquant Investment LP acquired a new position in shares of Ferroglobe in the 1st quarter worth approximately $125,000. Finally, Wasatch Advisors Inc. raised its holdings in shares of Ferroglobe by 5.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 245,387 shares of the basic materials company’s stock worth $2,103,000 after buying an additional 12,504 shares in the last quarter. 42.25% of the stock is owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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