BMO Capital Markets Trims GrafTech International (NYSE:EAF) Target Price to $7.00

GrafTech International (NYSE:EAFGet Rating) had its price target trimmed by BMO Capital Markets from $9.00 to $7.00 in a report issued on Monday, The Fly reports.

EAF has been the topic of several other research reports. Citigroup reduced their target price on shares of GrafTech International from $10.00 to $7.50 in a report on Tuesday, August 9th. Credit Suisse Group dropped their price target on shares of GrafTech International from $16.00 to $13.00 and set an outperform rating for the company in a research report on Tuesday, August 9th. Finally, Royal Bank of Canada cut shares of GrafTech International from an outperform rating to a sector perform rating and dropped their price target for the company from $10.00 to $7.00 in a research report on Wednesday, July 13th.

GrafTech International Price Performance

Shares of NYSE:EAF opened at $4.85 on Monday. The company’s fifty day moving average price is $6.62 and its 200-day moving average price is $8.07. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 2.55 and a beta of 1.11. GrafTech International has a one year low of $4.74 and a one year high of $13.38. The company has a debt-to-equity ratio of 4.77, a current ratio of 2.73 and a quick ratio of 1.29.

GrafTech International (NYSE:EAFGet Rating) last released its earnings results on Friday, August 5th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. GrafTech International had a net margin of 34.75% and a return on equity of 807.51%. The company had revenue of $363.60 million for the quarter, compared to analyst estimates of $370.67 million. During the same quarter last year, the firm earned $0.43 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts anticipate that GrafTech International will post 1.68 earnings per share for the current fiscal year.

GrafTech International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Wednesday, August 31st will be given a dividend of $0.01 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.82%. GrafTech International’s dividend payout ratio (DPR) is currently 2.11%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Prelude Capital Management LLC purchased a new position in GrafTech International during the 2nd quarter valued at about $95,000. Captrust Financial Advisors increased its stake in GrafTech International by 1,256.4% during the 2nd quarter. Captrust Financial Advisors now owns 21,146 shares of the company’s stock valued at $150,000 after purchasing an additional 19,587 shares in the last quarter. Legal & General Group Plc increased its stake in GrafTech International by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 187,714 shares of the company’s stock valued at $1,327,000 after purchasing an additional 10,115 shares in the last quarter. TORQ CAPITAL MANAGEMENT HK Ltd increased its stake in GrafTech International by 19.3% during the 2nd quarter. TORQ CAPITAL MANAGEMENT HK Ltd now owns 2,540,658 shares of the company’s stock valued at $17,962,000 after purchasing an additional 411,100 shares in the last quarter. Finally, Corton Capital Inc. bought a new stake in GrafTech International during the 2nd quarter valued at about $75,000. 87.04% of the stock is owned by hedge funds and other institutional investors.

About GrafTech International

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GrafTech International Ltd. research, develops, manufactures, and sells graphite and carbon-based solutions worldwide. It 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.

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