$0.24 Earnings Per Share Expected for GLOBALFOUNDRIES Inc. (NASDAQ:GFS) This Quarter

Brokerages expect GLOBALFOUNDRIES Inc. (NASDAQ:GFS – Get Rating) to post earnings per share of $0.24 for the current quarter, according to Zacks. Six analysts have provided estimates for GLOBALFOUNDRIES’s earnings. The highest EPS estimate is $0.25 and the lowest is $0.24. The firm is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that GLOBALFOUNDRIES will report full year earnings of $1.90 per share for the current fiscal year, with EPS estimates ranging from $1.78 to $2.00. For the next year, analysts expect that the firm will report earnings of $2.52 per share, with EPS estimates ranging from $2.35 to $2.73. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover GLOBALFOUNDRIES.

GLOBALFOUNDRIES (NASDAQ:GFS – Get Rating) last issued its earnings results on Tuesday, February 8th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. The firm’s revenue was up 74.2% compared to the same quarter last year.

A number of analysts have recently commented on GFS shares. Needham & Company LLC reiterated a “buy” rating and issued a $87.00 price target on shares of GLOBALFOUNDRIES in a research note on Wednesday, December 29th. Zacks Investment Research upgraded shares of GLOBALFOUNDRIES from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Friday, February 11th. Finally, Morgan Stanley upgraded shares of GLOBALFOUNDRIES from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $70.00 to $72.50 in a research note on Thursday, March 3rd. One research analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $80.06.

Large investors have recently modified their holdings of the business. Newbridge Financial Services Group Inc. purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter worth $101,000. Jackson Square Capital LLC purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter worth $537,000. International Assets Investment Management LLC purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter worth $855,000. J.W. Cole Advisors Inc. purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter worth $241,000. Finally, SeaTown Holdings Pte. Ltd. purchased a new position in shares of GLOBALFOUNDRIES in the fourth quarter worth $9,767,000. 0.23% of the stock is currently owned by institutional investors and hedge funds.

Shares of GFS stock opened at $52.10 on Thursday. The business has a 50 day moving average of $60.38. GLOBALFOUNDRIES has a 52 week low of $43.59 and a 52 week high of $79.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.67 and a quick ratio of 1.32.

About GLOBALFOUNDRIES (Get Rating)

GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. It manufactures integrated circuits, which enable various electronic devices that are pervasive. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, power management units, and microelectromechanical systems.

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