GLOBALFOUNDRIES (GFS) to Release Quarterly Earnings on Tuesday

GLOBALFOUNDRIES (NASDAQ:GFS) will be releasing its earnings data before the market opens on Tuesday, August 6th. Analysts expect GLOBALFOUNDRIES to post earnings of $0.29 per share for the quarter. GLOBALFOUNDRIES has set its Q2 guidance at $0.24-$0.34 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

GLOBALFOUNDRIES (NASDAQ:GFS) last issued its earnings results on Tuesday, May 7th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.09. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.52 billion. GLOBALFOUNDRIES had a net margin of 12.66% and a return on equity of 8.78%. On average, analysts expect GLOBALFOUNDRIES to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

GLOBALFOUNDRIES Stock Down 5.3 %

GFS stock opened at $45.47 on Monday. The company has a current ratio of 2.18, a quick ratio of 1.59 and a debt-to-equity ratio of 0.22. The company has a market cap of $25.09 billion, a P/E ratio of 28.07, a P/E/G ratio of 4.52 and a beta of 1.56. The company’s 50-day moving average price is $51.17 and its 200 day moving average price is $52.06. GLOBALFOUNDRIES has a 52 week low of $45.15 and a 52 week high of $62.61.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America dropped their target price on shares of GLOBALFOUNDRIES from $62.00 to $55.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Susquehanna increased their price target on GLOBALFOUNDRIES from $48.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Evercore ISI began coverage on shares of GLOBALFOUNDRIES in a report on Tuesday, April 16th. They issued an “outperform” rating and a $71.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of GLOBALFOUNDRIES in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $55.00 price target on shares of GLOBALFOUNDRIES in a research note on Tuesday, July 16th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $59.00.

About GLOBALFOUNDRIES

GLOBALFOUNDRIES Inc operates as a semiconductor foundry worldwide. The company manufactures a range of semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units; and offers mainstream wafer fabrication services and technologies.