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

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.

GrafTech International Ltd. (NYSE:EAF - Free Report) shares are set to reverse split before the market opens on 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 Stock Down 5.1%

NYSE:EAF opened at $1.0150 on Thursday. GrafTech International has a 12 month low of $0.55 and a 12 month high of $2.53. The firm has a market cap of $262.02 million, a price-to-earnings ratio of -1.24 and a beta of 1.63. The company's 50 day moving average is $1.19 and its 200-day moving average is $1.04.

GrafTech International (NYSE:EAF - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.04). The firm had revenue of $131.84 million for the quarter, compared to the consensus estimate of $130.44 million. Research analysts predict that GrafTech International will post -0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group dropped their price target on shares of GrafTech International from $1.50 to $0.80 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. BMO Capital Markets lifted their price target on shares of GrafTech International from $1.00 to $1.50 and gave the company a "market perform" rating in a research report on Tuesday, July 29th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $1.63.

Institutional Trading of GrafTech International

A number of hedge funds have recently modified their holdings of EAF. Yacktman Asset Management LP boosted its stake in GrafTech International by 1.2% during the second quarter. Yacktman Asset Management LP now owns 10,826,186 shares of the company's stock worth $10,530,000 after buying an additional 127,490 shares in the last quarter. Franklin Resources Inc. boosted its stake in GrafTech International by 57.2% during the second quarter. Franklin Resources Inc. now owns 7,131,013 shares of the company's stock worth $6,936,000 after buying an additional 2,594,562 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in GrafTech International by 24.6% during the fourth quarter. Ameriprise Financial Inc. now owns 5,981,468 shares of the company's stock worth $10,348,000 after buying an additional 1,182,040 shares in the last quarter. Geode Capital Management LLC boosted its stake in GrafTech International by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 5,101,098 shares of the company's stock worth $8,827,000 after buying an additional 48,038 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in GrafTech International by 34.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,619,905 shares of the company's stock worth $4,040,000 after buying an additional 1,179,988 shares in the last quarter. Institutional investors own 92.83% of the company's stock.

GrafTech International Company Profile

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.

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