Analysts Expect Glatfelter (GLT) Will Post Quarterly Sales of $400.02 Million
Wall Street analysts expect that Glatfelter (NYSE:GLT) will report $400.02 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Glatfelter’s earnings. The lowest sales estimate is $397.51 million and the highest is $402.53 million. Glatfelter posted sales of $406.65 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.6%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, 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 company will report sales of $1.60 billion per share, with estimates ranging from $1.55 billion to $1.64 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Glatfelter.
Glatfelter (NYSE:GLT) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.14). Glatfelter had a return on equity of 8.32% and a net margin of 0.59%. The business had revenue of $387.30 million during the quarter, compared to the consensus estimate of $394.84 million. During the same period last year, the business posted $0.06 earnings per share. The business’s revenue was down 4.7% on a year-over-year basis.
Several brokerages have recently commented on GLT. ValuEngine raised shares of Glatfelter from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Glatfelter from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 4th. 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $21.25.
Glatfelter (NYSE GLT) opened at 18.93 on Tuesday. Glatfelter has a 52-week low of $16.53 and a 52-week high of $25.59. The company has a market capitalization of $825.03 million, a price-to-earnings ratio of 89.72 and a beta of 1.34. The stock has a 50 day moving average price of $18.00 and a 200 day moving average price of $19.09.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Wednesday, October 11th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Tuesday, October 10th. Glatfelter’s payout ratio is currently 260.01%.
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In related news, Director Nicholas Debenedictis purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average cost of $17.62 per share, with a total value of $88,100.00. Following the completion of the purchase, the director now directly owns 57,935 shares in the company, valued at $1,020,814.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Dante C. Parrini purchased 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was bought at an average cost of $17.28 per share, with a total value of $100,224.00. Following the completion of the purchase, the chairman now owns 128,043 shares of the company’s stock, valued at $2,212,583.04. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Glatfelter by 47,120.4% in the first quarter. BlackRock Inc. now owns 5,571,062 shares of the basic materials company’s stock worth $121,116,000 after buying an additional 5,559,264 shares in the last quarter. Legal & General Group Plc raised its stake in Glatfelter by 9.1% in the second quarter. Legal & General Group Plc now owns 86,076 shares of the basic materials company’s stock worth $1,682,000 after buying an additional 7,162 shares in the last quarter. LSV Asset Management raised its stake in Glatfelter by 1.4% in the second quarter. LSV Asset Management now owns 1,297,936 shares of the basic materials company’s stock worth $25,361,000 after buying an additional 17,700 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Glatfelter by 63.2% in the first quarter. Envestnet Asset Management Inc. now owns 5,799 shares of the basic materials company’s stock worth $126,000 after buying an additional 2,246 shares in the last quarter. Finally, Teachers Advisors LLC raised its stake in Glatfelter by 1.0% in the first quarter. Teachers Advisors LLC now owns 75,400 shares of the basic materials company’s stock worth $1,639,000 after buying an additional 724 shares in the last quarter. 89.36% of the stock is owned by institutional investors.
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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