Equities Analysts Issue Forecasts For Glencore Plc’s FY2024 Earnings
Glencore plc (OTCMKTS:GLNCY – Get Rating) – Stock analysts at Jefferies Financial Group lowered their FY2024 earnings per share (EPS) estimates for Glencore in a research note issued to investors on Wednesday, June 29th. Jefferies Financial Group analyst C. Lafemina now anticipates that the energy company will post earnings per share of $2.00 for the year, down from their prior estimate of $2.02. The consensus estimate for Glencore’s current full-year earnings is $2.75 per share.
Other analysts have also issued reports about the company. HSBC assumed coverage on Glencore in a report on Friday, March 18th. They set a “buy” rating on the stock. Barclays raised their target price on Glencore from GBX 730 ($8.96) to GBX 770 ($9.45) in a research report on Wednesday, May 25th. Morgan Stanley raised their target price on Glencore from GBX 620 ($7.61) to GBX 740 ($9.08) in a research report on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Glencore from GBX 580 ($7.12) to GBX 560 ($6.87) in a research report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Glencore from GBX 650 ($7.97) to GBX 630 ($7.73) in a research report on Wednesday, June 22nd. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $660.00.
Shares of Glencore stock opened at $10.81 on Friday. The business’s fifty day simple moving average is $12.11 and its 200 day simple moving average is $11.84. Glencore has a 12 month low of $7.91 and a 12 month high of $14.00. The company has a current ratio of 1.17, a quick ratio of 0.59 and a debt-to-equity ratio of 0.75.
The business also recently declared a dividend, which was paid on Monday, June 6th. Stockholders of record on Friday, April 22nd were given a $0.221 dividend. This represents a dividend yield of 2.88%. The ex-dividend date was Thursday, April 21st.
About Glencore (Get Rating)
Glencore plc produces, refines, processes, stores, transports, and markets metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. It operates through two segments, Marketing Activities and Industrial Activities. The company produces and markets copper, cobalt, nickel, zinc, lead, chrome ore, ferrochrome, vanadium, alumina, aluminum, tin, and iron ore.
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