Auriga Maintains a 'Buy' on Globe Specialty Metals (GSM); In-line Results; Pricing Still An Issue
Tweet Send to a FriendGet Alerts GSM Hot Sheet
Price: $12.58 -0.16%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 12 | Down: 28 | New: 13
Trade GSM Now!
Auriga maintains a 'Buy' on Globe Specialty Metals (NASDAQ: GSM) price target of $20.00.
Analyst, Dan Whalen, said, "While higher than anticipated top-line results, driven by higher shipment volumes, were offset by higher expenses, we viewed the results as essentially in-line with expectations. However, to reflect ongoing headwinds from pricing trends, we are reducing our fiscal F4Q12 EPS estimate to $0.16 from $0.23 and our fiscal 2013 EPS estimate to $1.10 from $1.30. Nonetheless, given the combination of management's active management of its portfolio of assets and improving end market fundamentals, we believe these shares are suitable for value investors with longer-term investment horizons."
For an analyst ratings summary and ratings history on Globe Specialty Metals click here. For more ratings news on Globe Specialty Metals click here.
Shares of Globe Specialty Metals closed at $13.15 yesterday, with a 52 week range of $12.25-$25.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Dan Whalen, said, "While higher than anticipated top-line results, driven by higher shipment volumes, were offset by higher expenses, we viewed the results as essentially in-line with expectations. However, to reflect ongoing headwinds from pricing trends, we are reducing our fiscal F4Q12 EPS estimate to $0.16 from $0.23 and our fiscal 2013 EPS estimate to $1.10 from $1.30. Nonetheless, given the combination of management's active management of its portfolio of assets and improving end market fundamentals, we believe these shares are suitable for value investors with longer-term investment horizons."
For an analyst ratings summary and ratings history on Globe Specialty Metals click here. For more ratings news on Globe Specialty Metals click here.
Shares of Globe Specialty Metals closed at $13.15 yesterday, with a 52 week range of $12.25-$25.67.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Benchmark Boosts PT on R.R. Donnelley (RRD)
- UBS Raises PT on MEMC (WFR); Thinks Semi Sales Troughed in Q1
- Jefferies Bumps PT on Home Depot (HD) to $91
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Auriga
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
