B. Riley Research Analysts Lift Earnings Estimates for Ferroglobe PLC (GSM)
Ferroglobe PLC (NASDAQ:GSM) – Research analysts at B. Riley increased their FY2017 EPS estimates for Ferroglobe PLC in a report issued on Wednesday. B. Riley analyst S. Sherbetchyan now anticipates that the basic materials company will earn $0.10 per share for the year, up from their prior estimate of $0.08. B. Riley currently has a “Buy” rating and a $16.00 target price on the stock. B. Riley also issued estimates for Ferroglobe PLC’s Q4 2017 earnings at $0.06 EPS, Q1 2018 earnings at $0.22 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.27 EPS and FY2018 earnings at $0.98 EPS.
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Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Ferroglobe PLC from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. BidaskClub upgraded shares of Ferroglobe PLC from a “buy” rating to a “strong-buy” rating in a report on Friday, October 20th. Jefferies Group LLC set a $17.00 target price on shares of Ferroglobe PLC and gave the stock a “buy” rating in a report on Thursday, October 5th. Finally, Stifel Nicolaus set a $19.00 target price on shares of Ferroglobe PLC and gave the stock a “buy” rating in a report on Friday, October 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $17.75.
Shares of Ferroglobe PLC (NASDAQ:GSM) opened at $15.99 on Thursday. The company has a current ratio of 2.51, a quick ratio of 1.42 and a debt-to-equity ratio of 0.52. Ferroglobe PLC has a 1 year low of $8.54 and a 1 year high of $16.50.
Institutional investors and hedge funds have recently modified their holdings of the stock. Oppenheimer Asset Management Inc. increased its holdings in shares of Ferroglobe PLC by 10.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 10,659 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 1,011 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ferroglobe PLC by 108.3% in the third quarter. Legal & General Group Plc now owns 10,385 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 5,400 shares during the last quarter. Invictus RG acquired a new position in shares of Ferroglobe PLC in the third quarter valued at $146,000. Caxton Associates LP acquired a new position in shares of Ferroglobe PLC in the third quarter valued at $151,000. Finally, Budros Ruhlin & Roe Inc. increased its holdings in shares of Ferroglobe PLC by 17.2% in the second quarter. Budros Ruhlin & Roe Inc. now owns 13,603 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 36.80% 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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