GrafTech International (NYSE:EAF) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

GrafTech International (NYSE:EAF - Get Free Report) announced its quarterly earnings results on Friday. The company reported ($0.10) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.08, Briefing.com reports. The firm had revenue of $136.80 million during the quarter, compared to the consensus estimate of $125.73 million. GrafTech International had a negative net margin of 41.14% and a negative return on equity of 39.57%. The firm's revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.02) EPS.

GrafTech International Stock Performance

Shares of NYSE:EAF traded down $0.03 on Friday, hitting $1.58. 5,450,320 shares of the company were exchanged, compared to its average volume of 3,144,827. The stock's 50 day moving average price is $1.56 and its 200 day moving average price is $2.03. The firm has a market capitalization of $406.31 million, a P/E ratio of -1.58 and a beta of 1.14. GrafTech International has a 1-year low of $1.18 and a 1-year high of $5.32. The company has a current ratio of 3.54, a quick ratio of 1.81 and a debt-to-equity ratio of 11.90.

Insider Buying and Selling

In other news, major shareholder Colonial House Capital Ltd purchased 2,303,599 shares of the company's stock in a transaction dated Tuesday, April 16th. The stock was acquired at an average price of $1.78 per share, with a total value of $4,100,406.22. Following the purchase, the insider now directly owns 29,535,575 shares in the company, valued at approximately $52,573,323.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

EAF has been the topic of a number of research reports. UBS Group assumed coverage on shares of GrafTech International in a research report on Tuesday, January 16th. They set a "neutral" rating and a $2.00 target price on the stock. BMO Capital Markets cut their price objective on shares of GrafTech International from $2.00 to $1.50 and set a "market perform" rating on the stock in a report on Thursday, February 15th. Royal Bank of Canada cut their price objective on shares of GrafTech International from $3.00 to $2.00 and set a "sector perform" rating on the stock in a report on Friday, February 16th. Finally, Citigroup cut their price objective on shares of GrafTech International from $4.00 to $2.00 and set a "neutral" rating on the stock in a report on Wednesday, January 10th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $1.88.

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.