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 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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