Ferroglobe PLC (NASDAQ:GSM) Declares Quarterly Dividend of $0.01

Ferroglobe PLC (NASDAQ:GSM) announced a quarterly dividend on Monday, August 5th, Zacks reports. Investors of record on Friday, September 20th will be paid a dividend of 0.013 per share by the basic materials company on Friday, September 27th. This represents a $0.05 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Friday, September 20th.

Ferroglobe has a dividend payout ratio of 10.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Ferroglobe to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 10.2%.

Ferroglobe Price Performance

Shares of NASDAQ GSM opened at $4.20 on Thursday. The company has a market capitalization of $787.22 million, a price-to-earnings ratio of 12.35 and a beta of 1.83. Ferroglobe has a 1-year low of $4.07 and a 1-year high of $6.78. The business has a 50-day moving average of $4.80 and a 200-day moving average of $5.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.63 and a quick ratio of 0.91.

Ferroglobe (NASDAQ:GSM) last posted its quarterly earnings data on Monday, August 5th. The basic materials company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $451.05 million for the quarter, compared to the consensus estimate of $425.55 million. Ferroglobe had a net margin of 4.11% and a return on equity of 11.27%. During the same period in the prior year, the firm posted $0.30 EPS. On average, equities analysts anticipate that Ferroglobe will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised Ferroglobe from a “hold” rating to a “buy” rating in a report on Wednesday, August 7th.

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.