GrafTech International (EAF) Issues Earnings Results

GrafTech International (NYSE:EAF) released its earnings results on Friday. The company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.11, MarketWatch Earnings reports. The business had revenue of $454.90 million during the quarter, compared to the consensus estimate of $426.50 million. GrafTech International had a net margin of 38.52% and a negative return on equity of 1,837.51%. The business’s quarterly revenue was up 231.3% compared to the same quarter last year.

NYSE:EAF opened at $17.17 on Friday. GrafTech International has a fifty-two week low of $14.00 and a fifty-two week high of $24.36.

A number of research firms have weighed in on EAF. Zacks Investment Research downgraded shares of GrafTech International from a “buy” rating to a “hold” rating in a research report on Monday, October 8th. BMO Capital Markets increased their target price on shares of GrafTech International from $25.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, August 6th. Vertical Research began coverage on shares of GrafTech International in a research report on Wednesday, August 1st. They set a “buy” rating and a $29.00 target price for the company. Finally, Vertical Group began coverage on shares of GrafTech International in a research report on Wednesday, August 1st. They set a “buy” rating for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. GrafTech International currently has a consensus rating of “Buy” and a consensus target price of $26.60.

In other GrafTech International news, Director Gp Ltd Bcp sold 34,688,311 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $19.75, for a total transaction of $685,094,142.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Several hedge funds have recently made changes to their positions in the company. Boston Partners acquired a new stake in shares of GrafTech International during the 2nd quarter worth approximately $138,608,000. Federated Investors Inc. PA acquired a new stake in shares of GrafTech International during the 2nd quarter worth approximately $68,574,000. Schroder Investment Management Group acquired a new stake in shares of GrafTech International during the 2nd quarter worth approximately $66,218,000. Millennium Management LLC acquired a new stake in shares of GrafTech International during the 2nd quarter worth approximately $61,229,000. Finally, Indus Capital Partners LLC acquired a new stake in shares of GrafTech International during the 2nd quarter worth approximately $40,731,000. 15.43% of the stock is owned by institutional investors.

About GrafTech International

GrafTech International Ltd. researches, develops, manufactures, and sells synthetic and natural graphite and carbon based products worldwide. It offers graphite electrodes, which are components of the conductive power systems used to produce steel and non-ferrous metals; and petroleum needle coke, a crystalline form of carbon used in the production of graphite electrodes.

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