Ferroglobe PLC (NASDAQ:GSM) Expected to Announce Quarterly Sales of $446.01 Million

Brokerages expect that Ferroglobe PLC (NASDAQ:GSM) will announce sales of $446.01 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ferroglobe’s earnings. The lowest sales estimate is $427.74 million and the highest is $471.30 million. Ferroglobe posted sales of $582.98 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.5%. The business is scheduled to report its next earnings results on Tuesday, August 20th.

According to Zacks, analysts expect that Ferroglobe will report full-year sales of $1.81 billion for the current financial year, with estimates ranging from $1.76 billion to $1.92 billion. For the next financial year, analysts anticipate that the company will post sales of $1.93 billion, with estimates ranging from $1.76 billion to $2.01 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Ferroglobe.

Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.02). Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. The firm had revenue of $456.79 million for the quarter, compared to analyst estimates of $481.09 million. During the same period last year, the firm posted $0.19 EPS. The business’s revenue was down 18.5% compared to the same quarter last year.

Several brokerages have commented on GSM. BidaskClub upgraded shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 11th. B. Riley set a $5.00 price target on shares of Ferroglobe and gave the stock a “buy” rating in a research report on Wednesday, June 5th. ValuEngine upgraded Ferroglobe from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research downgraded Ferroglobe from a “hold” rating to a “strong sell” rating in a report on Friday, June 7th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $5.57.

Several hedge funds and other institutional investors have recently made changes to their positions in GSM. Russell Investments Group Ltd. lifted its holdings in Ferroglobe by 25.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,418 shares of the basic materials company’s stock worth $65,000 after purchasing an additional 7,676 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Ferroglobe by 339.8% in the fourth quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock valued at $105,000 after purchasing an additional 50,915 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Ferroglobe in the first quarter valued at $126,000. Wells Fargo & Company MN grew its position in Ferroglobe by 14.0% in the second quarter. Wells Fargo & Company MN now owns 97,018 shares of the basic materials company’s stock valued at $165,000 after acquiring an additional 11,947 shares during the period. Finally, Geode Capital Management LLC grew its position in Ferroglobe by 17.9% in the fourth quarter. Geode Capital Management LLC now owns 160,107 shares of the basic materials company’s stock valued at $254,000 after acquiring an additional 24,256 shares during the period. 37.57% of the stock is owned by institutional investors and hedge funds.

Ferroglobe stock traded down $0.04 during midday trading on Friday, hitting $1.33. The company’s stock had a trading volume of 270,195 shares, compared to its average volume of 754,714. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.74 and a quick ratio of 0.81. The business’s 50-day simple moving average is $1.61. Ferroglobe has a 12 month low of $1.26 and a 12 month high of $8.64. The firm has a market capitalization of $224.93 million, a P/E ratio of 4.75 and a beta of 2.27.

Ferroglobe Company Profile

Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.

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Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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