Ferroglobe (NASDAQ:GSM) Releases Earnings Results, Misses Expectations By $0.06 EPS

Key Points

• Ferroglobe reported a quarterly loss of ($0.08) earnings per share, missing analysts' expectations by ($0.06).
• Despite the earnings miss, Ferroglobe's stock price increased by $0.17 to reach $4.04 on the day of the announcement.
• The company announced a quarterly dividend payment of $0.014, resulting in an annualized dividend of $0.06 and a yield of 1.4%.

Ferroglobe (NASDAQ:GSM - Get Free Report) posted its quarterly earnings data on Tuesday. The basic materials company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.06), Zacks reports. Ferroglobe had a positive return on equity of 1.93% and a negative net margin of 3.80%.

Ferroglobe Stock Performance

Shares of NASDAQ:GSM traded up $0.17 on Tuesday, reaching $4.04. The company's stock had a trading volume of 2,186,315 shares, compared to its average volume of 1,252,320. The stock's 50-day moving average is $4.10 and its two-hundred day moving average is $3.85. Ferroglobe has a 52-week low of $2.97 and a 52-week high of $5.21. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.66 and a quick ratio of 1.00. The stock has a market capitalization of $753.97 million, a P/E ratio of -12.24 and a beta of 1.62.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Wednesday, June 18th were issued a $0.014 dividend. This represents a $0.06 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, June 18th. Ferroglobe's dividend payout ratio is presently -15.15%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ferroglobe stock. Goldman Sachs Group Inc. boosted its stake in shares of Ferroglobe PLC (NASDAQ:GSM - Free Report) by 32.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 331,778 shares of the basic materials company's stock after buying an additional 81,611 shares during the quarter. Goldman Sachs Group Inc. owned 0.18% of Ferroglobe worth $1,231,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 89.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Ferroglobe from a "sell" rating to a "hold" rating in a research note on Saturday, May 31st.

About Ferroglobe

Ferroglobe PLC produces and sells silicon metal, and silicon and manganese-based ferroalloys 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; and silicon metal for primary and secondary aluminum producers.

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