B. Riley Issues Pessimistic Forecast for Ferroglobe Earnings

Ferroglobe PLC (NASDAQ:GSM) – Equities researchers at B. Riley cut their Q4 2024 earnings per share estimates for shares of Ferroglobe in a report released on Friday, November 8th. B. Riley analyst L. Pipes now forecasts that the basic materials company will earn ($0.01) per share for the quarter, down from their prior estimate of $0.02. The consensus estimate for Ferroglobe’s current full-year earnings is $0.28 per share. B. Riley also issued estimates for Ferroglobe’s Q1 2025 earnings at ($0.01) EPS, FY2025 earnings at $0.50 EPS and FY2026 earnings at $0.62 EPS.

Ferroglobe (NASDAQ:GSM) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.05). Ferroglobe had a return on equity of 7.55% and a net margin of 2.74%. The company had revenue of $433.53 million during the quarter, compared to analysts’ expectations of $443.50 million. During the same quarter in the prior year, the company posted $0.27 EPS.

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

Ferroglobe Trading Down 0.2 %

Shares of NASDAQ:GSM opened at $4.17 on Monday. The business’s 50 day moving average price is $4.36 and its 200-day moving average price is $5.00. Ferroglobe has a 1 year low of $4.07 and a 1 year high of $6.78. The firm has a market capitalization of $781.58 million, a price-to-earnings ratio of 17.08 and a beta of 1.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.83 and a quick ratio of 0.91.

Institutional Investors Weigh In On Ferroglobe

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd boosted its stake in Ferroglobe by 266.1% during the 1st quarter. Covestor Ltd now owns 5,316 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 3,864 shares during the period. Virtu Financial LLC purchased a new stake in shares of Ferroglobe in the first quarter valued at about $53,000. Legacy Capital Group California Inc. acquired a new stake in shares of Ferroglobe during the second quarter worth about $60,000. Hood River Capital Management LLC purchased a new position in shares of Ferroglobe during the first quarter worth about $73,000. Finally, Banco Santander S.A. acquired a new position in Ferroglobe in the 2nd quarter valued at about $80,000. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Ferroglobe Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 20th will be paid a dividend of $0.013 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.05 annualized dividend and a yield of 1.25%. Ferroglobe’s payout ratio is 20.83%.

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.