GlobalFoundries (GFS) to Release Quarterly Earnings on Tuesday

GlobalFoundries (NASDAQ:GFS) will be releasing its earnings data before the market opens on Tuesday, November 5th. Analysts expect GlobalFoundries to post earnings of $0.33 per share for the quarter. GlobalFoundries has set its Q3 2024 guidance at 0.280-0.380 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 quarterly earnings data on Tuesday, August 6th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.10. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.61 billion. GlobalFoundries had a net margin of 11.82% and a return on equity of 7.75%. The company’s revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, analysts expect GlobalFoundries to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

GlobalFoundries Price Performance

Shares of GFS opened at $40.24 on Tuesday. The firm has a market capitalization of $22.20 billion, a PE ratio of 24.85, a PEG ratio of 6.35 and a beta of 1.52. The company’s 50-day moving average is $41.34 and its 200-day moving average is $47.00. GlobalFoundries has a fifty-two week low of $37.94 and a fifty-two week high of $62.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.22 and a quick ratio of 1.59.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. TD Cowen lowered their price target on shares of GlobalFoundries from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley lowered shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $53.00 to $43.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of GlobalFoundries from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Evercore ISI lowered their price target on shares of GlobalFoundries from $77.00 to $71.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, Cantor Fitzgerald lowered their price target on shares of GlobalFoundries from $55.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $54.85.

GlobalFoundries Company Profile

GlobalFoundries Inc, a semiconductor foundry, provides range of mainstream wafer fabrication services and technologies worldwide. It manufactures various semiconductor devices, including microprocessors, mobile application processors, baseband processors, network processors, radio frequency modems, microcontrollers, and power management units.