Wall Street brokerages expect Ferroglobe (NASDAQ:GSM) to announce sales of $559.12 million for the current quarter, according to Zacks. Five analysts have made estimates for Ferroglobe’s earnings. The highest sales estimate is $580.00 million and the lowest is $535.82 million. Ferroglobe reported sales of $388.24 million during the same quarter last year, which would suggest a positive year over year growth rate of 44%. The business is scheduled to announce its next quarterly earnings results on Monday, May 21st.

On average, analysts expect that Ferroglobe will report full year sales of $2.45 billion for the current fiscal year, with estimates ranging from $2.32 billion to $2.50 billion. For the next financial year, analysts expect that the firm will post sales of $2.49 billion per share, with estimates ranging from $2.25 billion to $2.65 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ferroglobe.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Monday, February 26th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). The company had revenue of $468.22 million during the quarter, compared to analyst estimates of $463.41 million. Ferroglobe had a net margin of 1.45% and a return on equity of 2.32%. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) EPS.

A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Ferroglobe from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 30th. Oppenheimer reissued a “buy” rating and issued a $20.00 target price on shares of Ferroglobe in a report on Friday, March 23rd. BidaskClub raised Ferroglobe from a “sell” rating to a “hold” rating in a report on Tuesday, February 13th. TheStreet raised Ferroglobe from a “c+” rating to a “b” rating in a report on Friday, March 23rd. Finally, JPMorgan Chase raised Ferroglobe from a “neutral” rating to an “overweight” rating in a report on Monday, March 26th. Three analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $19.60.

Hedge funds have recently made changes to their positions in the stock. Castleark Management LLC acquired a new position in Ferroglobe during the fourth quarter worth $7,340,000. PEAK6 Investments L.P. grew its holdings in Ferroglobe by 107.8% during the fourth quarter. PEAK6 Investments L.P. now owns 19,705 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 10,221 shares during the period. Dimensional Fund Advisors LP grew its holdings in Ferroglobe by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 4,249,451 shares of the basic materials company’s stock worth $55,922,000 after acquiring an additional 109,552 shares during the period. Driehaus Capital Management LLC acquired a new position in Ferroglobe during the fourth quarter worth $2,060,000. Finally, Raymond James & Associates acquired a new position in Ferroglobe during the fourth quarter worth $2,267,000. 41.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:GSM remained flat at $$11.02 during trading on Thursday. The stock had a trading volume of 379,080 shares, compared to its average volume of 766,392. The firm has a market capitalization of $1,905.69, a price-to-earnings ratio of 84.77 and a beta of 1.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.09 and a current ratio of 1.80. Ferroglobe has a 1-year low of $8.54 and a 1-year high of $17.61.

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Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicon metals that are used in personal care items, construction-related products, health care products, and electronics, as well as used in the manufacture of silicone chemicals; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.

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Earnings History and Estimates for Ferroglobe (NASDAQ:GSM)

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