Glencore PLC (GLNCY) Forecasted to Post FY2018 Earnings of $0.58 Per Share
Glencore PLC (OTC:GLNCY) – Analysts at Jefferies Group dropped their FY2018 EPS estimates for Glencore PLC in a report released on Monday. Jefferies Group analyst C. Lafemina now forecasts that the company will post earnings of $0.58 per share for the year, down from their previous estimate of $0.64. Jefferies Group also issued estimates for Glencore PLC’s FY2019 earnings at $0.72 EPS and FY2020 earnings at $1.00 EPS.
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Separately, Bank of America Corporation downgraded shares of Glencore PLC from a “buy” rating to a “neutral” rating in a report on Monday, June 26th.
Glencore PLC (OTC:GLNCY) traded up 3.52% during mid-day trading on Wednesday, hitting $8.83. 86,900 shares of the stock traded hands. The company’s 50 day moving average price is $8.27 and its 200-day moving average price is $7.85. Glencore PLC has a 1-year low of $4.46 and a 1-year high of $9.00. The stock has a market cap of $62.96 billion, a price-to-earnings ratio of 15.12 and a beta of 2.06.
About Glencore PLC
Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of commodities worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
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