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

GrafTech International (NYSE:EAF) issued its earnings results on Friday. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.08, Briefing.com reports. The firm had revenue of $136.80 million for the quarter, compared to analysts’ expectations 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 was down 1.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) earnings per share.

GrafTech International Stock Performance

Shares of GrafTech International stock traded down $0.03 during trading on Friday, reaching $1.58. The company’s stock had a trading volume of 5,450,320 shares, compared to its average volume of 3,144,827. The company has a 50-day moving average price of $1.56 and a two-hundred day moving average price of $2.04. The firm has a market cap of $406.31 million, a PE ratio of -1.58 and a beta of 1.14. GrafTech International has a fifty-two week low of $1.18 and a fifty-two week 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EAF. UBS Group began coverage on shares of GrafTech International in a report on Tuesday, January 16th. They issued 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, According to MarketBeat.com, GrafTech International presently has an average rating of “Hold” and an average price target of $1.88.

Insider Activity

In other GrafTech International news, major shareholder Colonial House Capital Ltd bought 2,303,599 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were acquired at an average cost of $1.78 per share, with a total value of $4,100,406.22. Following the acquisition, the insider now directly owns 29,535,575 shares of the company’s stock, valued at approximately $52,573,323.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

About GrafTech International

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.