Zacks: Analysts Expect Ferroglobe PLC (GSM) Will Post Quarterly Sales of $426.84 Million

Wall Street brokerages expect Ferroglobe PLC (NASDAQ:GSM) to report sales of $426.84 million for the current quarter, according to Zacks. Five analysts have provided estimates for Ferroglobe PLC’s earnings, with the highest sales estimate coming in at $442.00 million and the lowest estimate coming in at $405.85 million. Ferroglobe PLC reported sales of $364.73 million in the same quarter last year, which indicates a positive year over year growth rate of 17%. The company is expected to report its next earnings results on Monday, November 13th.

According to Zacks, analysts expect that Ferroglobe PLC will report full-year sales of $426.84 million for the current fiscal year, with estimates ranging from $1.65 billion to $1.71 billion. For the next year, analysts expect that the firm will post sales of $1.96 billion per share, with estimates ranging from $1.86 billion to $2.09 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Ferroglobe PLC.

GSM has been the topic of several recent research reports. BidaskClub upgraded Ferroglobe PLC from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. B. Riley restated a “buy” rating and issued a $16.00 price objective on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. Stifel Nicolaus restated a “buy” rating on shares of Ferroglobe PLC in a research report on Sunday, September 3rd. Jefferies Group LLC restated a “buy” rating and issued a $16.75 price objective (down from $17.00) on shares of Ferroglobe PLC in a research report on Thursday, August 31st. Finally, Zacks Investment Research upgraded Ferroglobe PLC from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, August 23rd. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Ferroglobe PLC currently has an average rating of “Buy” and a consensus target price of $15.40.

Shares of Ferroglobe PLC (GSM) traded down 0.91% on Friday, reaching $14.19. The company’s stock had a trading volume of 625,914 shares. The stock’s market capitalization is $2.44 billion. Ferroglobe PLC has a 1-year low of $8.54 and a 1-year high of $15.09. The company has a 50 day moving average of $13.44 and a 200 day moving average of $11.62.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boston Partners lifted its position in Ferroglobe PLC by 8.3% during the second quarter. Boston Partners now owns 4,335,985 shares of the basic materials company’s stock worth $51,814,000 after buying an additional 333,141 shares during the period. Dimensional Fund Advisors LP lifted its position in Ferroglobe PLC by 16.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,139,899 shares of the basic materials company’s stock worth $49,471,000 after buying an additional 589,969 shares during the period. Thompson Siegel & Walmsley LLC lifted its position in Ferroglobe PLC by 15.5% during the second quarter. Thompson Siegel & Walmsley LLC now owns 3,222,024 shares of the basic materials company’s stock worth $27,493,000 after buying an additional 431,473 shares during the period. Deprince Race & Zollo Inc. lifted its position in Ferroglobe PLC by 684.5% during the second quarter. Deprince Race & Zollo Inc. now owns 2,693,853 shares of the basic materials company’s stock worth $32,192,000 after buying an additional 2,350,450 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in Ferroglobe PLC by 1.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,902,999 shares of the basic materials company’s stock worth $19,658,000 after buying an additional 30,153 shares during the period. Hedge funds and other institutional investors own 38.17% of the company’s stock.

About Ferroglobe PLC

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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