B. Riley Comments on Ferroglobe PLC's Q2 2024 Earnings (NASDAQ:GSM)

Ferroglobe PLC (NASDAQ:GSM - Free Report) - Stock analysts at B. Riley lifted their Q2 2024 earnings per share (EPS) estimates for shares of Ferroglobe in a research report issued to clients and investors on Thursday, May 16th. B. Riley analyst L. Pipes now forecasts that the basic materials company will post earnings of $0.11 per share for the quarter, up from their previous forecast of $0.06. The consensus estimate for Ferroglobe's current full-year earnings is $0.26 per share. B. Riley also issued estimates for Ferroglobe's Q3 2024 earnings at $0.11 EPS, Q2 2025 earnings at $0.18 EPS, Q3 2025 earnings at $0.18 EPS, Q4 2025 earnings at $0.16 EPS, FY2025 earnings at $0.52 EPS and FY2026 earnings at $0.54 EPS.

Separately, StockNews.com raised shares of Ferroglobe from a "hold" rating to a "buy" rating in a report on Thursday, May 9th.

Ferroglobe Price Performance

Shares of Ferroglobe stock traded up $0.09 during trading on Friday, reaching $6.03. 1,951,041 shares of the company's stock were exchanged, compared to its average volume of 1,536,735. The firm's 50-day moving average price is $5.06 and its 200 day moving average price is $5.32. The company has a market cap of $1.13 billion, a P/E ratio of 17.62 and a beta of 1.99. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.32 and a current ratio of 1.74. Ferroglobe has a 1-year low of $4.18 and a 1-year high of $6.78.

Ferroglobe (NASDAQ:GSM - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The basic materials company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.05. Ferroglobe had a return on equity of 15.04% and a net margin of 3.92%. The company had revenue of $375.95 million for the quarter, compared to analysts' expectations of $318.80 million.

Ferroglobe Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.013 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 17th. Ferroglobe's payout ratio is 14.71%.

Institutional Trading of Ferroglobe

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new stake in Ferroglobe in the third quarter worth $944,000. Fox Run Management L.L.C. bought a new position in Ferroglobe during the 3rd quarter valued at $79,000. New York State Common Retirement Fund purchased a new position in Ferroglobe during the 3rd quarter worth $47,000. Boston Partners grew its stake in shares of Ferroglobe by 5.8% in the 3rd quarter. Boston Partners now owns 4,252,458 shares of the basic materials company's stock worth $22,113,000 after acquiring an additional 233,114 shares in the last quarter. Finally, Banco Santander S.A. purchased a new stake in shares of Ferroglobe in the third quarter valued at about $77,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Company Profile

Ferroglobe PLC operates in the silicon and specialty metals industry 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, as well as silicon metal for primary and secondary aluminum producers; silicomanganese, which is used as deoxidizing agent in the steel manufacturing process; and ferromanganese that is used as a deoxidizing, desulphurizing, and degassing agent in the removal of nitrogen and other harmful elements from steel.