Ferroglobe PLC (GSM) to Post FY2017 Earnings of $0.12 Per Share, Jefferies Group Forecasts

Ferroglobe PLC (NASDAQ:GSM) – Stock analysts at Jefferies Group boosted their FY2017 EPS estimates for shares of Ferroglobe in a report released on Tuesday. Jefferies Group analyst M. Englert now anticipates that the basic materials company will post earnings of $0.12 per share for the year, up from their previous estimate of $0.04. Jefferies Group currently has a “Buy” rating and a $18.00 target price on the stock. Jefferies Group also issued estimates for Ferroglobe’s FY2019 earnings at $0.88 EPS and FY2020 earnings at $1.05 EPS.

Several other analysts also recently issued reports on GSM. BidaskClub raised Ferroglobe from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 19th. Zacks Investment Research raised Ferroglobe from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, August 23rd. B. Riley reissued a “buy” rating and set a $16.00 target price (up previously from $14.25) on shares of Ferroglobe in a research note on Tuesday, August 29th. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Ferroglobe in a research note on Sunday, September 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $19.25.

Shares of Ferroglobe (NASDAQ:GSM) opened at $16.07 on Friday. Ferroglobe has a 12 month low of $8.54 and a 12 month high of $16.50. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.80 and a quick ratio of 1.42.

Ferroglobe (NASDAQ:GSM) last issued its earnings results on Monday, November 27th. The basic materials company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $451.60 million for the quarter, compared to the consensus estimate of $435.15 million. Ferroglobe had a negative return on equity of 0.75% and a negative net margin of 2.84%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year.

A number of large investors have recently added to or reduced their stakes in the business. Boston Partners increased its stake in Ferroglobe by 8.3% in the 2nd quarter. Boston Partners now owns 4,335,985 shares of the basic materials company’s stock worth $51,814,000 after acquiring an additional 333,141 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Ferroglobe by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,249,451 shares of the basic materials company’s stock worth $55,922,000 after acquiring an additional 109,552 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its stake in Ferroglobe by 15.5% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 3,222,024 shares of the basic materials company’s stock worth $27,493,000 after acquiring an additional 431,473 shares during the last quarter. Deprince Race & Zollo Inc. increased its stake in Ferroglobe by 0.3% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,701,416 shares of the basic materials company’s stock worth $35,551,000 after acquiring an additional 7,563 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Ferroglobe by 65.7% in 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 acquiring an additional 676,104 shares during the last quarter. 36.62% of the stock is currently owned by institutional investors and hedge funds.

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Ferroglobe 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.

Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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