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Globe Specialty Metals (GSM) Dips More Than Broader Markets: What You Should Know
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Globe Specialty Metals (GSM - Free Report) closed the most recent trading day at $5.46, moving -1.8% from the previous trading session. This change lagged the S&P 500's daily loss of 1.06%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the producer of silicon metal and silicon-based alloys had lost 11.04% over the past month. This has lagged the Basic Materials sector's gain of 3.18% and the S&P 500's gain of 4.94% in that time.
Investors will be hoping for strength from Globe Specialty Metals as it approaches its next earnings release. The company is expected to report EPS of $0.68, up 288.89% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $694.65 million, up 61.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.93 per share and revenue of $2.82 billion, which would represent changes of +1727.78% and +58.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Globe Specialty Metals. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Globe Specialty Metals is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Globe Specialty Metals has a Forward P/E ratio of 1.9 right now. For comparison, its industry has an average Forward P/E of 8.21, which means Globe Specialty Metals is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Globe Specialty Metals (GSM) Dips More Than Broader Markets: What You Should Know
Globe Specialty Metals (GSM - Free Report) closed the most recent trading day at $5.46, moving -1.8% from the previous trading session. This change lagged the S&P 500's daily loss of 1.06%. Elsewhere, the Dow lost 0.46%, while the tech-heavy Nasdaq lost 0.08%.
Prior to today's trading, shares of the producer of silicon metal and silicon-based alloys had lost 11.04% over the past month. This has lagged the Basic Materials sector's gain of 3.18% and the S&P 500's gain of 4.94% in that time.
Investors will be hoping for strength from Globe Specialty Metals as it approaches its next earnings release. The company is expected to report EPS of $0.68, up 288.89% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $694.65 million, up 61.84% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.93 per share and revenue of $2.82 billion, which would represent changes of +1727.78% and +58.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Globe Specialty Metals. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Globe Specialty Metals is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that Globe Specialty Metals has a Forward P/E ratio of 1.9 right now. For comparison, its industry has an average Forward P/E of 8.21, which means Globe Specialty Metals is trading at a discount to the group.
The Mining - Miscellaneous industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.