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

GrafTech International (NYSE:EAF) announced its earnings results on Friday. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.08, Briefing.com reports. GrafTech International had a negative net margin of 41.14% and a negative return on equity of 39.57%. The business had revenue of $136.80 million for the quarter, compared to analyst estimates of $125.73 million. During the same quarter last year, the business earned ($0.02) earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year.

GrafTech International Trading Down 1.9 %

EAF stock traded down $0.03 during trading on Friday, reaching $1.58. 5,450,320 shares of the stock were exchanged, compared to its average volume of 3,144,827. The company has a current ratio of 3.54, a quick ratio of 1.81 and a debt-to-equity ratio of 11.90. The business has a 50 day moving average price of $1.56 and a 200-day moving average price of $2.03. GrafTech International has a 1 year low of $1.18 and a 1 year high of $5.32. The firm has a market capitalization of $406.31 million, a price-to-earnings ratio of -1.45 and a beta of 1.14.

Analyst Ratings Changes

Several analysts have recently issued reports on EAF shares. Citigroup dropped their target price on shares of 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 price target on shares of GrafTech International from $2.00 to $1.50 and set a “market perform” rating on the stock in a research note on Thursday, February 15th. UBS Group began coverage on shares of GrafTech International in a research note on Tuesday, January 16th. They issued a “neutral” rating and a $2.00 price target on the stock. Finally, Royal Bank of Canada decreased their price target on shares of GrafTech International from $3.00 to $2.00 and set a “sector perform” rating on the stock in a research note on Friday, February 16th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1.88.

Insiders Place Their Bets

In other news, major shareholder Colonial House Capital Ltd bought 2,303,599 shares of GrafTech International stock in a transaction on Tuesday, April 16th. The shares were bought at an average cost 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 of the company’s stock, valued at $52,573,323.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by insiders.

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.