GrafTech International Stock to Reverse Split on Friday, August 29th (NYSE:EAF)

Key Points

• GrafTech International shares will undergo a 1-10 reverse split on August 29th, affecting the number of shares owned by shareholders after market close on August 28th.
• The company reported a loss of $0.16 EPS for its last quarter, missing analysts' estimates, despite exceeding revenue expectations with $131.84 million.
• Most analysts have given GrafTech a "Hold" rating with an average price target of $1.63, while UBS lowered their target to $0.80.

Shares of GrafTech International Ltd. (NYSE:EAF - Free Report) are set to reverse split on the morning of Friday, August 29th. The 1-10 reverse split was announced on Monday, August 18th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, August 28th.

GrafTech International Trading Up 0.4%

Shares of NYSE EAF traded up $0.00 during trading hours on Tuesday, reaching $1.00. The stock had a trading volume of 2,203,894 shares, compared to its average volume of 2,012,328. The firm has a market cap of $259.18 million, a price-to-earnings ratio of -1.22 and a beta of 1.63. GrafTech International has a fifty-two week low of $0.55 and a fifty-two week high of $2.53. The firm has a 50-day moving average of $1.17 and a 200-day moving average of $1.02.

GrafTech International (NYSE:EAF - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.04). The business had revenue of $131.84 million during the quarter, compared to analysts' expectations of $130.44 million. On average, equities analysts predict that GrafTech International will post -0.57 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group dropped their price target on GrafTech International from $1.50 to $0.80 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. BMO Capital Markets lifted their target price on GrafTech International from $1.00 to $1.50 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Finally, Zacks Research cut GrafTech International from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 21st. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $1.63.

Institutional Investors Weigh In On GrafTech International

A number of institutional investors have recently added to or reduced their stakes in EAF. Vanguard Personalized Indexing Management LLC lifted its position in shares of GrafTech International by 42.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 27,531 shares of the company's stock valued at $27,000 after acquiring an additional 8,188 shares during the last quarter. Wolverine Trading LLC acquired a new position in shares of GrafTech International in the fourth quarter worth $32,000. Two Sigma Advisers LP acquired a new position in GrafTech International during the fourth quarter worth $33,000. CWM LLC increased its position in GrafTech International by 2,978.8% during the first quarter. CWM LLC now owns 40,517 shares of the company's stock worth $35,000 after buying an additional 39,201 shares during the last quarter. Finally, Rathbones Group PLC acquired a new position in GrafTech International during the first quarter worth $35,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

About GrafTech International

GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. The company offers graphite electrodes to produce electric arc furnace steel and other ferrous and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes and synthetic graphite.