Ferroglobe PLC to Issue Quarterly Dividend of $0.02 (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) declared a quarterly dividend on Tuesday, May 5th. Investors of record on Monday, June 22nd will be given a dividend of 0.015 per share by the basic materials company on Monday, June 29th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Monday, June 22nd.

Ferroglobe has a payout ratio of 10.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Ferroglobe to earn $0.69 per share next year, which means the company should continue to be able to cover its $0.06 annual dividend with an expected future payout ratio of 8.7%.

Ferroglobe Stock Performance

Ferroglobe stock traded up $0.02 during mid-day trading on Wednesday, reaching $4.80. The company’s stock had a trading volume of 1,541,979 shares, compared to its average volume of 1,220,714. Ferroglobe has a 12-month low of $3.04 and a 12-month high of $5.74. The company has a market capitalization of $894.89 million, a P/E ratio of -5.21 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.97 and a current ratio of 1.66. The firm’s fifty day moving average price is $4.48 and its two-hundred day moving average price is $4.63.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Tuesday, March 31st. The basic materials company reported ($0.07) earnings per share for the quarter. Ferroglobe had a negative net margin of 12.78% and a negative return on equity of 8.65%. The business had revenue of $347.75 million during the quarter. Sell-side analysts predict that Ferroglobe will post 0.13 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on GSM shares. Wall Street Zen upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Ferroglobe in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Ferroglobe from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.