Analysts Anticipate Ferroglobe PLC (GSM) Will Post Quarterly Sales of $569.72 Million

Analysts expect Ferroglobe PLC (NASDAQ:GSM) to post $569.72 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Ferroglobe’s earnings. The highest sales estimate is $587.55 million and the lowest is $535.82 million. Ferroglobe reported sales of $388.24 million in the same quarter last year, which would suggest a positive year over year growth rate of 46.7%. The company is expected to announce its next quarterly earnings results on Monday, May 21st.

According to Zacks, analysts expect that Ferroglobe will report full-year sales of $569.72 million for the current year, with estimates ranging from $2.32 billion to $2.57 billion. For the next financial year, analysts anticipate that the business will post sales of $2.52 billion per share, with estimates ranging from $2.25 billion to $2.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ferroglobe.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Monday, February 26th. The basic materials company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). Ferroglobe had a return on equity of 2.32% and a net margin of 1.45%. The firm had revenue of $468.22 million for the quarter, compared to analysts’ expectations of $463.41 million. During the same quarter last year, the firm posted ($0.09) earnings per share. Ferroglobe’s quarterly revenue was up 20.1% on a year-over-year basis.

Several equities research analysts have commented on GSM shares. TheStreet upgraded Ferroglobe from a “c+” rating to a “b” rating in a research note on Friday, March 23rd. Jefferies Group set a $19.00 price objective on Ferroglobe and gave the stock a “buy” rating in a research note on Monday, February 26th. BidaskClub upgraded Ferroglobe from a “hold” rating to a “buy” rating in a research note on Friday, December 22nd. Oppenheimer restated a “buy” rating and set a $20.00 target price on shares of Ferroglobe in a report on Friday, March 23rd. Finally, Zacks Investment Research cut Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.60.

Several institutional investors have recently modified their holdings of the company. California Public Employees Retirement System lifted its holdings in Ferroglobe by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 435,800 shares of the basic materials company’s stock valued at $7,060,000 after acquiring an additional 3,700 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Ferroglobe by 30.6% in the third quarter. Oppenheimer & Co. Inc. now owns 15,912 shares of the basic materials company’s stock valued at $209,000 after acquiring an additional 3,725 shares during the last quarter. Legal & General Group Plc lifted its holdings in Ferroglobe by 108.3% in the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 5,400 shares during the last quarter. PEAK6 Investments L.P. lifted its holdings in Ferroglobe by 107.8% in the fourth quarter. PEAK6 Investments L.P. now owns 19,705 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 10,221 shares during the last quarter. Finally, Invictus RG acquired a new position in Ferroglobe in the third quarter valued at approximately $146,000. Institutional investors and hedge funds own 41.24% of the company’s stock.

NASDAQ:GSM opened at $10.73 on Monday. Ferroglobe has a 12 month low of $8.54 and a 12 month high of $17.61. The company has a quick ratio of 1.09, a current ratio of 1.80 and a debt-to-equity ratio of 0.45. The company has a market cap of $1,843.82, a price-to-earnings ratio of 82.54 and a beta of 1.35.

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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.

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Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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