GrafTech International (NYSE:EAF) Trading 11% Higher on Earnings Beat

GrafTech International Ltd. (NYSE:EAF)’s share price was up 11% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $2.42 and last traded at $2.42. Approximately 279,273 shares traded hands during trading, a decline of 91% from the average daily 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, topping analysts’ consensus estimates of ($0.14) by $0.01. GrafTech International had a negative return on equity of 321.50% and a negative net margin of 55.21%. 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 firm posted ($0.08) EPS.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On GrafTech International

Institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in GrafTech International by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,899 shares of the company’s stock valued at $253,000 after purchasing an additional 8,216 shares during the last quarter. Quadrature Capital Ltd boosted its stake in GrafTech International by 11.3% during the 1st quarter. Quadrature Capital Ltd now owns 81,219 shares of the company’s stock valued at $113,000 after purchasing an additional 8,271 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in GrafTech International by 58.4% during 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 during the last quarter. William Blair Investment Management LLC boosted its stake in GrafTech International by 0.3% during the 1st quarter. William Blair Investment Management LLC now owns 4,511,025 shares of the company’s stock valued at $6,225,000 after purchasing an additional 12,648 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of GrafTech International by 12.0% in the 1st quarter. BNP Paribas Financial Markets now owns 123,395 shares of the company’s stock worth $170,000 after buying an additional 13,203 shares during the last quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

GrafTech International Stock Down 1.6 %

The company has a quick ratio of 2.01, a current ratio of 4.22 and a debt-to-equity ratio of 57.38. The company has a market cap of $551.63 million, a P/E ratio of -1.97 and a beta of 0.94. The company has a fifty day moving average of $1.42 and a 200 day moving average 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.