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

Key Points

• Ferroglobe reported a quarterly loss of $0.06 per share, missing analyst estimates by $0.02. Revenue of $369.76 million also fell short of the $382.80 million consensus.
• The company posted a negative net margin of 2.96% and negative return on equity of 3.73% for the quarter.
• Analysts maintain a consensus Hold rating with a $6.00 price target; ratings are split among Buy, Hold, and Sell.

Ferroglobe (NASDAQ:GSM - Get Free Report) posted its quarterly earnings results on Tuesday. The basic materials company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02), FiscalAI reports. The firm had revenue of $369.76 million for the quarter, compared to the consensus estimate of $382.80 million. Ferroglobe had a negative net margin of 2.96% and a negative return on equity of 3.73%.

Ferroglobe Stock Performance

Shares of Ferroglobe stock traded up $0.02 on Tuesday, reaching $3.86. 1,218,733 shares of the stock were exchanged, compared to its average volume of 1,391,692. The firm has a market capitalization of $720.38 million, a price-to-earnings ratio of -17.55 and a beta of 1.06. The business has a 50 day moving average price of $4.16 and a two-hundred day moving average price of $4.23. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 0.06. Ferroglobe has a twelve month low of $3.08 and a twelve month high of $5.66.

Analyst Ratings Changes

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

Insider Activity

In other news, insider Cos Muntanola Beatriz Garcia sold 32,292 shares of the firm's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $4.30, for a total value of $138,855.60. Following the transaction, the insider directly owned 31,693 shares of the company's stock, valued at approximately $136,279.90. This trade represents a 50.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 13.07% of the stock is owned by company insiders.

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.

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