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

GrafTech International (NYSE:EAF) issued its quarterly 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 company had revenue of $136.80 million during the quarter, compared to analysts’ expectations of $125.73 million. GrafTech International had a negative return on equity of 39.57% and a negative net margin of 41.14%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share.

GrafTech International Price Performance

EAF stock traded down $0.03 during mid-day trading on Friday, hitting $1.58. 5,450,320 shares of the stock were exchanged, compared to its average volume of 3,144,827. The company has a debt-to-equity ratio of 11.90, a current ratio of 3.54 and a quick ratio of 1.81. The business has a fifty day moving average price of $1.56 and a 200 day moving average price of $2.04. GrafTech International has a 12 month low of $1.18 and a 12 month high of $5.32. The stock has a market capitalization of $406.31 million, a price-to-earnings ratio of -1.58 and a beta of 1.14.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on EAF shares. Citigroup cut their target price on GrafTech International from $4.00 to $2.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 10th. BMO Capital Markets decreased their target price on GrafTech International from $2.00 to $1.50 and set a “market perform” rating for the company in a research report on Thursday, February 15th. UBS Group began coverage on GrafTech International in a research report on Tuesday, January 16th. They issued a “neutral” rating and a $2.00 target price for the company. Finally, Royal Bank of Canada cut their price target on GrafTech International from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Friday, February 16th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, GrafTech International has an average rating of “Hold” and a consensus target price of $1.88.

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.