Ferroglobe (NASDAQ:GSM) Downgraded by Zacks Research to Strong Sell

Zacks Research cut shares of Ferroglobe (NASDAQ:GSM) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on GSM. Wall Street Zen upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. B. Riley decreased their price target on shares of Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $6.00.

Ferroglobe Trading Up 0.8%

Shares of NASDAQ:GSM traded up $0.03 during midday trading on Wednesday, hitting $3.85. The company had a trading volume of 1,530,877 shares, compared to its average volume of 1,302,017. The company has a current ratio of 1.56, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14. Ferroglobe has a 12 month low of $2.97 and a 12 month high of $5.74. The firm has a fifty day simple moving average of $4.59 and a 200 day simple moving average of $4.23. The stock has a market cap of $718.51 million, a price-to-earnings ratio of -6.75 and a beta of 1.83.

Ferroglobe (NASDAQ:GSM) last released its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $311.70 million during the quarter, compared to analyst estimates of $393.80 million. Ferroglobe had a negative net margin of 6.99% and a negative return on equity of 2.85%. On average, analysts predict that Ferroglobe will post 0.33 EPS for the current year.

Ferroglobe Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 29th. Investors of record on Monday, December 22nd will be issued a dividend of $0.014 per share. The ex-dividend date is Monday, December 22nd. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.5%. Ferroglobe’s dividend payout ratio (DPR) is presently -6.76%.

Hedge Funds Weigh In On Ferroglobe

A number of large investors have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new stake in shares of Ferroglobe in the second quarter valued at approximately $27,000. State of Alaska Department of Revenue acquired a new stake in Ferroglobe in the 3rd quarter valued at $32,000. BNP Paribas Financial Markets raised its holdings in Ferroglobe by 1,017,300.0% during the second quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 10,173 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Ferroglobe during the first quarter valued at approximately $38,000. Finally, R Squared Ltd bought a new position in Ferroglobe in the second quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys in the United States, Europe, and internationally. It provides silicone chemicals that are used in a range of applications, including personal care items, construction-related products, health care products, and electronics; and silicon metal for primary and secondary aluminum producers.