Ferroglobe (NASDAQ:GSM) released its quarterly earnings results on Monday, November 27th. The basic materials company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02, Briefing.com reports. The firm had revenue of $451.60 million during the quarter, compared to analysts’ expectations of $435.15 million. Ferroglobe had a negative net margin of 2.84% and a negative return on equity of 0.75%. The firm’s quarterly revenue was up 23.8% on a year-over-year basis.
Ferroglobe (NASDAQ:GSM) traded down $0.01 during trading hours on Thursday, reaching $15.61. 360,800 shares of the company’s stock traded hands, compared to its average volume of 783,488. Ferroglobe has a 12 month low of $8.54 and a 12 month high of $16.50. The company has a current ratio of 1.80, a quick ratio of 1.09 and a debt-to-equity ratio of 0.45.
GSM has been the subject of several recent research reports. B. Riley restated a “buy” rating and issued a $16.00 price target on shares of Ferroglobe in a report on Sunday, September 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of Ferroglobe in a research note on Sunday, September 3rd. Jefferies Group reiterated a “buy” rating and set a $16.75 price objective (down previously from $17.00) on shares of Ferroglobe in a research note on Thursday, August 31st. Zacks Investment Research upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Wednesday, August 23rd. Finally, BidaskClub lowered shares of Ferroglobe from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.25.
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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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