Shares of Ferroglobe PLC (NASDAQ:GSM) traded down 5.9% during mid-day trading on Thursday . The company traded as low as $6.57 and last traded at $6.97. 86,518 shares traded hands during trading, a decline of 89% from the average session volume of 810,401 shares. The stock had previously closed at $6.58.
A number of analysts recently issued reports on the stock. ValuEngine lowered shares of Ferroglobe from a “sell” rating to a “strong sell” rating in a research report on Friday, June 15th. BidaskClub upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research report on Saturday, September 22nd. TheStreet lowered shares of Ferroglobe from a “c-” rating to a “d+” rating in a research report on Friday, June 29th. Zacks Investment Research lowered shares of Ferroglobe from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 25th. Finally, Stifel Nicolaus decreased their target price on shares of Ferroglobe from $19.00 to $13.00 and set a “buy” rating on the stock in a research report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $15.20.
The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 51.00 and a beta of 1.53. The company has a current ratio of 1.75, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51.
Ferroglobe (NASDAQ:GSM) last announced its quarterly earnings results on Tuesday, August 21st. The basic materials company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). The company had revenue of $583.00 million during the quarter, compared to analyst estimates of $608.91 million. Ferroglobe had a net margin of 6.44% and a return on equity of 8.53%. The firm’s revenue for the quarter was up 36.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. On average, research analysts expect that Ferroglobe PLC will post 0.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 20th. Shareholders of record on Wednesday, September 5th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, September 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.62%. Ferroglobe’s dividend payout ratio (DPR) is presently 184.62%.
Several institutional investors and hedge funds have recently made changes to their positions in GSM. Bayesian Capital Management LP acquired a new position in shares of Ferroglobe in the 1st quarter valued at $110,000. Fox Run Management L.L.C. acquired a new position in shares of Ferroglobe in the 3rd quarter valued at $114,000. Stevens Capital Management LP acquired a new position in shares of Ferroglobe in the 2nd quarter valued at $118,000. Paloma Partners Management Co acquired a new position in shares of Ferroglobe in the 2nd quarter valued at $161,000. Finally, Trellus Management Company LLC acquired a new position in shares of Ferroglobe in the 2nd quarter valued at $163,000. Institutional investors own 41.29% of the company’s stock.
About Ferroglobe (NASDAQ:GSM)
Ferroglobe PLC operates in the silicon and specialty metals industry in the United States, Europe, and internationally. The company offers silicone chemicals used in a range of applications, including personal care items, construction-related products, health care products, and electronics, as well as silicon metal for primary and secondary aluminum producers; 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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