Jefferies Financial Group Weighs in on Ferroglobe PLC’s FY2021 Earnings (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM) – Analysts at Jefferies Financial Group issued their FY2021 earnings estimates for Ferroglobe in a research report issued on Wednesday, June 5th, according to Zacks Investment Research. Jefferies Financial Group analyst M. Englert expects that the basic materials company will post earnings per share of $0.35 for the year. Jefferies Financial Group also issued estimates for Ferroglobe’s FY2022 earnings at $0.74 EPS and FY2023 earnings at $1.07 EPS.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Monday, June 3rd. The basic materials company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $456.79 million during the quarter, compared to analysts’ expectations of $481.09 million. Ferroglobe had a net margin of 1.20% and a negative return on equity of 0.37%. Ferroglobe’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.19 earnings per share.

GSM has been the subject of several other reports. BidaskClub upgraded shares of Ferroglobe from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 11th. ValuEngine upgraded shares of Ferroglobe from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Finally, Zacks Investment Research downgraded shares of Ferroglobe from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $7.43.

Shares of GSM stock traded up $0.07 on Friday, hitting $1.77. The stock had a trading volume of 904,331 shares, compared to its average volume of 851,057. The stock has a market capitalization of $287.51 million, a price-to-earnings ratio of 6.32 and a beta of 2.28. The business has a 50 day simple moving average of $1.64. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.74 and a quick ratio of 0.81. Ferroglobe has a 52-week low of $1.44 and a 52-week high of $8.64.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trellus Management Company LLC lifted its position in shares of Ferroglobe by 20.1% in the 4th quarter. Trellus Management Company LLC now owns 33,000 shares of the basic materials company’s stock worth $52,000 after buying an additional 5,527 shares during the last quarter. IHT Wealth Management LLC bought a new position in shares of Ferroglobe in the 4th quarter worth about $59,000. Virtu Financial LLC bought a new position in shares of Ferroglobe in the 4th quarter worth about $71,000. Legal & General Group Plc lifted its position in shares of Ferroglobe by 339.8% in the 4th quarter. Legal & General Group Plc now owns 65,900 shares of the basic materials company’s stock worth $105,000 after buying an additional 50,915 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of Ferroglobe in the 4th quarter worth about $112,000. Hedge funds and other institutional investors own 37.59% of the company’s stock.

About Ferroglobe

Ferroglobe PLC engages in the production of silicon metal, silicon-based specialty alloys, and ferroalloys. It operates through the following segments: Electrometallurgy-North America, Electrometallurgy-Europe, Electrometallurgy-South Africa, and Other. The company was founded on February 5, 2015 and is headquartered in London, the United Kingdom.

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