Analysts predict that Glatfelter (NYSE:GLT) will report $400.02 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Glatfelter’s earnings, with estimates ranging from $397.51 million to $402.53 million. Glatfelter reported sales of $406.65 million in the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The business is scheduled to issue its next earnings results on Tuesday, November 7th.

On average, analysts expect that Glatfelter will report full year sales of $400.02 million for the current year. For the next fiscal year, analysts expect that the firm will report sales of $1.60 billion per share, with estimates ranging from $1.55 billion to $1.64 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Glatfelter.

Glatfelter (NYSE:GLT) last announced its earnings results on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.14). The company had revenue of $387.30 million for the quarter, compared to the consensus estimate of $394.84 million. Glatfelter had a net margin of 0.59% and a return on equity of 8.32%. The firm’s revenue was down 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS.

Several research firms recently issued reports on GLT. ValuEngine downgraded shares of Glatfelter from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 5th. TheStreet downgraded shares of Glatfelter from a “b-” rating to a “c” rating in a research note on Monday, June 12th. Finally, BidaskClub downgraded shares of Glatfelter from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.69.

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Shares of Glatfelter (GLT) opened at 18.24 on Thursday. The company has a market cap of $794.95 million, a PE ratio of 86.45 and a beta of 1.33. The firm’s 50-day moving average price is $17.33 and its 200 day moving average price is $19.34. Glatfelter has a 12 month low of $16.53 and a 12 month high of $25.59.

In other news, Chairman Dante C. Parrini purchased 5,800 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were purchased at an average price of $17.28 per share, with a total value of $100,224.00. Following the purchase, the chairman now directly owns 128,043 shares of the company’s stock, valued at approximately $2,212,583.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Nicholas Debenedictis purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average cost of $17.62 per share, for a total transaction of $88,100.00. Following the purchase, the director now directly owns 57,935 shares in the company, valued at $1,020,814.70. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in shares of Glatfelter by 73.5% in the 2nd quarter. Bank of Montreal Can now owns 5,607 shares of the basic materials company’s stock worth $110,000 after purchasing an additional 2,376 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Glatfelter by 63.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 2,246 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Glatfelter by 10.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 6,828 shares of the basic materials company’s stock worth $133,000 after purchasing an additional 638 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Glatfelter by 78.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,597 shares of the basic materials company’s stock worth $167,000 after purchasing an additional 3,787 shares during the last quarter. Finally, Mason Street Advisors LLC increased its position in shares of Glatfelter by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 10,185 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 669 shares during the last quarter. 89.36% of the stock is owned by institutional investors.

Glatfelter Company Profile

P. H. Glatfelter Company is a manufacturer of specialty papers and fiber-based engineered materials. The Company operates through three business units: Composite Fibers, Advanced Airlaid Materials and Specialty Papers. Its Composite Fibers business unit is engaged in the sale of single-serve tea and coffee filtration papers, non-woven wallcovering materials, metallized papers, composite laminates papers, and various technically special papers, including substrates for electrical applications.

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