Ferroglobe PLC (GSM) Expected to Announce Quarterly Sales of $426.84 Million
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.
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.
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