Ferroglobe (NASDAQ:GSM) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Ferroglobe (NASDAQ:GSM) announced its quarterly earnings data on Tuesday. The basic materials company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02), FiscalAI reports. The company had revenue of $369.76 million during the quarter, compared to analysts’ expectations of $382.80 million. Ferroglobe had a net margin of 2.13% and a negative return on equity of 5.31%.

Ferroglobe Trading Down 10.3%

GSM stock traded down $0.30 during midday trading on Thursday, hitting $2.63. The stock had a trading volume of 1,082,753 shares, compared to its average volume of 1,403,907. The firm has a market cap of $490.65 million, a PE ratio of 16.53 and a beta of 1.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.29 and a quick ratio of 0.74. Ferroglobe has a 12-month low of $2.58 and a 12-month high of $5.66. The company’s 50-day moving average price is $4.13 and its 200 day moving average price is $4.21.

Ferroglobe Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Tuesday, December 22nd will be issued a $0.0150 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Tuesday, December 22nd. Ferroglobe’s dividend payout ratio is -27.27%.

Insider Buying and Selling at Ferroglobe

In related news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $4.30, for a total transaction of $138,855.60. Following the completion of the transaction, the insider owned 31,693 shares of the company’s stock, valued at approximately $136,279.90. This represents a 50.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 13.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GSM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ferroglobe in a research note on Monday. Wall Street Zen upgraded shares of Ferroglobe from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ferroglobe has a consensus rating of “Hold” and a consensus price target of $6.00.

About Ferroglobe

Ferroglobe PLC (NASDAQ:GSM) is a global producer of silicon and manganese-based alloys. The company manufactures silicon metal, ferrosilicon, manganese alloys, calcium silicon and other specialty alloy products used in the production of steel, aluminum, silicones, solar materials and other industrial goods.

Ferroglobe also operates quartz resources and produces related raw materials used in its alloy manufacturing processes. Its products support several industries, including automotive, construction, energy, chemicals, electronics and renewable energy.