Zacks: Brokerages Expect Ferroglobe PLC (GSM) Will Post Quarterly Sales of $431.41 Million
Equities research analysts expect that Ferroglobe PLC (NASDAQ:GSM) will announce sales of $431.41 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Ferroglobe PLC’s earnings, with estimates ranging from $405.30 million to $448.80 million. Ferroglobe PLC reported sales of $397.95 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.4%. The company is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Ferroglobe PLC will report full-year sales of $431.41 million for the current fiscal year, with estimates ranging from $1.62 billion to $1.74 billion. For the next year, analysts forecast that the firm will report sales of $1.89 billion per share, with estimates ranging from $1.75 billion to $2.09 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ferroglobe PLC.
GSM has been the subject of several research reports. TheStreet lowered shares of Ferroglobe PLC from a “c-” rating to a “d” rating in a research report on Thursday, May 18th. Zacks Investment Research upgraded shares of Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Wednesday, July 12th. BidaskClub upgraded shares of Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. ValuEngine upgraded shares of Ferroglobe PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Finally, Jefferies Group LLC restated a “buy” rating and set a $12.00 price objective on shares of Ferroglobe PLC in a research report on Wednesday, July 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $13.04.
Ferroglobe PLC (NASDAQ GSM) traded up 0.63% during mid-day trading on Friday, reaching $12.84. 446,983 shares of the company were exchanged. The stock’s market capitalization is $2.21 billion. Ferroglobe PLC has a 12 month low of $7.67 and a 12 month high of $13.47. The company’s 50 day moving average price is $12.46 and its 200-day moving average price is $10.87.
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Several hedge funds and other institutional investors have recently made changes to their positions in GSM. Deprince Race & Zollo Inc. boosted its position in shares of Ferroglobe PLC by 684.5% in the second quarter. Deprince Race & Zollo Inc. now owns 2,693,853 shares of the basic materials company’s stock valued at $32,192,000 after buying an additional 2,350,450 shares during the last quarter. Norges Bank purchased a new position in shares of Ferroglobe PLC during the fourth quarter valued at approximately $10,596,000. Pembroke Management LTD purchased a new position in shares of Ferroglobe PLC during the first quarter valued at approximately $10,018,000. Russell Investments Group Ltd. boosted its position in shares of Ferroglobe PLC by 617.7% in the first quarter. Russell Investments Group Ltd. now owns 1,029,063 shares of the basic materials company’s stock valued at $10,630,000 after buying an additional 885,677 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Ferroglobe PLC by 22.7% in the first quarter. Dimensional Fund Advisors LP now owns 3,549,930 shares of the basic materials company’s stock valued at $36,671,000 after buying an additional 657,529 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.
About Ferroglobe PLC
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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