Wall Street brokerages expect Ferroglobe PLC (NASDAQ:GSM) to post sales of $426.84 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Ferroglobe PLC’s earnings, with the lowest sales estimate coming in at $405.85 million and the highest estimate coming in at $442.00 million. Ferroglobe PLC reported sales of $364.73 million during the same quarter last year, which indicates a positive year-over-year growth rate of 17%. The company is scheduled to report its next quarterly earnings report on Monday, November 13th.

On average, analysts expect that Ferroglobe PLC will report full-year sales of $426.84 million for the current financial year, with estimates ranging from $1.65 billion to $1.71 billion. For the next fiscal year, analysts forecast that the company will post sales of $2.00 billion per share, with estimates ranging from $1.86 billion to $2.09 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Ferroglobe PLC.

A number of research firms have commented on GSM. Stifel Nicolaus raised their target price on Ferroglobe PLC from $19.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. B. Riley reaffirmed a “buy” rating and set a $16.00 price target on shares of Ferroglobe PLC in a research note on Sunday, September 3rd. Zacks Investment Research downgraded Ferroglobe PLC from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. BidaskClub raised Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 20th. Finally, Jefferies Group LLC reaffirmed a “positive” rating and set a $17.00 price target (up previously from $12.00) on shares of Ferroglobe PLC in a research note on Friday, August 18th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $16.20.

ILLEGAL ACTIVITY WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another website, it was stolen and reposted in violation of United States & international trademark & copyright law. The original version of this news story can be accessed at https://www.dailypolitical.com/2017/10/26/ferroglobe-plc-gsm-expected-to-announce-quarterly-sales-of-426-84-million.html.

Ferroglobe PLC (GSM) traded up 3.73% during trading on Thursday, hitting $15.58. 276,440 shares of the company traded hands. Ferroglobe PLC has a 52-week low of $8.54 and a 52-week high of $15.65. The firm’s market cap is $2.68 billion. The company’s 50-day moving average is $13.80 and its 200 day moving average is $11.97.

A number of institutional investors have recently bought and sold shares of the stock. Ardsley Advisory Partners increased its position in Ferroglobe PLC by 128.8% during the 2nd quarter. Ardsley Advisory Partners now owns 595,000 shares of the basic materials company’s stock worth $7,107,000 after purchasing an additional 335,000 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Ferroglobe PLC during the 2nd quarter worth about $12,104,000. Kingdon Capital Management L.L.C. purchased a new stake in Ferroglobe PLC during the 2nd quarter worth about $1,194,000. BlueCrest Capital Management Ltd increased its position in Ferroglobe PLC by 356.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 54,334 shares of the basic materials company’s stock worth $649,000 after purchasing an additional 42,427 shares in the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in Ferroglobe PLC during the 2nd quarter worth about $3,411,000. Hedge funds and other institutional investors own 38.30% of the company’s stock.

Ferroglobe PLC 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.

Get a free copy of the Zacks research report on Ferroglobe PLC (GSM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ferroglobe PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferroglobe PLC and related companies with MarketBeat.com's FREE daily email newsletter.