Zacks: Brokerages Anticipate Ferroglobe PLC (NASDAQ:GSM) Will Post Earnings of $0.01 Per Share

Analysts expect Ferroglobe PLC (NASDAQ:GSM) to report $0.01 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have issued estimates for Ferroglobe PLC’s earnings, with the highest EPS estimate coming in at $0.03 and the lowest estimate coming in at ($0.01). Ferroglobe PLC reported earnings per share of ($0.01) in the same quarter last year, which indicates a positive year over year growth rate of 200%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Ferroglobe PLC will report full-year earnings of $0.02 per share for the current fiscal year, with EPS estimates ranging from ($0.11) to $0.15. For the next fiscal year, analysts expect that the business will report earnings of $0.62 per share, with EPS estimates ranging from $0.34 to $0.87. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Ferroglobe PLC.

GSM has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $12.00 price objective on shares of Ferroglobe PLC in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, July 12th. BidaskClub cut shares of Ferroglobe PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. B. Riley reaffirmed a “buy” rating and set a $14.25 target price on shares of Ferroglobe PLC in a research note on Sunday, May 28th. Finally, TheStreet cut shares of Ferroglobe PLC from a “c-” rating to a “d” rating in a research note on Thursday, May 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ferroglobe PLC currently has an average rating of “Buy” and a consensus target price of $13.04.

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Ferroglobe PLC (NASDAQ:GSM) opened at 12.76 on Friday. The firm’s market cap is $2.19 billion. Ferroglobe PLC has a 12-month low of $7.67 and a 12-month high of $13.47. The firm’s 50-day moving average price is $12.40 and its 200 day moving average price is $10.85.

Several hedge funds have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. boosted its stake in Ferroglobe PLC by 1.4% in the first quarter. Independent Portfolio Consultants Inc. now owns 18,810 shares of the basic materials company’s stock worth $194,000 after buying an additional 255 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Ferroglobe PLC by 10.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,011 shares during the last quarter. Suntrust Banks Inc. boosted its stake in Ferroglobe PLC by 4.8% in the first quarter. Suntrust Banks Inc. now owns 27,693 shares of the basic materials company’s stock worth $285,000 after buying an additional 1,261 shares during the last quarter. Budros Ruhlin & Roe Inc. boosted its stake in Ferroglobe PLC by 17.2% in the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock worth $163,000 after buying an additional 2,000 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Ferroglobe PLC by 7.1% in the first quarter. American International Group Inc. now owns 40,274 shares of the basic materials company’s stock worth $416,000 after buying an additional 2,664 shares during the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

Ferroglobe PLC Company Profile

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.

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