Ferroglobe (NASDAQ:GSM) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Ferroglobe (NASDAQ:GSM) posted its earnings results on Monday. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05, Zacks reports. Ferroglobe had a net margin of 3.92% and a return on equity of 15.06%. The company had revenue of $451.05 million during the quarter, compared to analysts’ expectations of $425.55 million. During the same quarter last year, the company posted $0.30 EPS.

Ferroglobe Price Performance

Ferroglobe stock traded up $0.17 during trading hours on Tuesday, reaching $4.86. 1,333,897 shares of the stock were exchanged, compared to its average volume of 1,394,914. The stock has a 50 day moving average of $5.56 and a two-hundred day moving average of $5.28. The company has a market cap of $910.93 million, a P/E ratio of 14.18 and a beta of 1.87. The company has a current ratio of 1.74, a quick ratio of 1.02 and a debt-to-equity ratio of 0.02. Ferroglobe has a twelve month low of $4.26 and a twelve month high of $6.78.

Ferroglobe Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 17th were given a dividend of $0.013 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.07%. Ferroglobe’s payout ratio is 14.71%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Ferroglobe from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd.

About Ferroglobe

Ferroglobe PLC operates in the silicon and specialty metals industry 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, 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.