GrafTech International (NYSE:EAF) Stock Price Up 11% After Earnings Beat

GrafTech International Ltd. (NYSE:EAF)’s share price shot up 11% on Wednesday following a stronger than expected earnings report. The stock traded as high as $2.42 and last traded at $2.42. 279,273 shares were traded during trading, a decline of 91% from the average session volume of 3,088,052 shares. The stock had previously closed at $2.18.

The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. GrafTech International had a negative net margin of 55.21% and a negative return on equity of 321.50%. The business had revenue of $130.65 million for the quarter, compared to analysts’ expectations of $128.14 million. During the same quarter in the prior year, the business earned ($0.08) EPS.

Wall Street Analyst Weigh In

Separately, BMO Capital Markets lowered their target price on GrafTech International from $1.20 to $1.00 and set a “market perform” rating on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, GrafTech International currently has an average rating of “Hold” and an average target price of $1.75.

Institutional Investors Weigh In On GrafTech International

Institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio raised its holdings in shares of GrafTech International by 58.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 25,535 shares of the company’s stock valued at $35,000 after purchasing an additional 9,416 shares in the last quarter. Paloma Partners Management Co purchased a new stake in GrafTech International during the first quarter worth $76,000. Tyler Stone Wealth Management lifted its holdings in GrafTech International by 113.3% during the third quarter. Tyler Stone Wealth Management now owns 61,100 shares of the company’s stock worth $81,000 after buying an additional 32,450 shares during the period. Intech Investment Management LLC bought a new stake in GrafTech International during the 3rd quarter valued at $81,000. Finally, Quadrature Capital Ltd increased its holdings in shares of GrafTech International by 11.3% in the 1st quarter. Quadrature Capital Ltd now owns 81,219 shares of the company’s stock valued at $113,000 after acquiring an additional 8,271 shares during the period. 92.83% of the stock is owned by institutional investors.

GrafTech International Trading Down 0.5 %

The company has a current ratio of 4.22, a quick ratio of 2.01 and a debt-to-equity ratio of 57.38. The stock has a market capitalization of $550.34 million, a P/E ratio of -1.80 and a beta of 0.94. The company has a 50-day moving average price of $1.45 and a 200 day moving average price of $1.26.

GrafTech International Company Profile

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.