FY2023 EPS Estimates For Glencore Plc Lowered By Analyst

Glencore plc (OTCMKTS:GLNCY – Get Rating) – Investment analysts at Jefferies Financial Group reduced their FY2023 EPS estimates for shares of Glencore in a research report issued to clients and investors on Wednesday, November 30th. Jefferies Financial Group analyst C. Lafemina now anticipates that the energy company will post earnings per share of $2.22 for the year, down from their previous estimate of $2.36. The consensus estimate for Glencore’s current full-year earnings is $3.20 per share. Jefferies Financial Group also issued estimates for Glencore’s FY2024 earnings at $1.98 EPS.
Several other research firms have also commented on GLNCY. Sanford C. Bernstein raised shares of Glencore from a “market perform” rating to an “outperform” rating in a report on Wednesday, November 23rd. JPMorgan Chase & Co. reduced their target price on shares of Glencore from GBX 690 ($8.25) to GBX 660 ($7.90) in a report on Friday, October 14th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Glencore from GBX 500 ($5.98) to GBX 560 ($6.70) in a report on Wednesday, November 23rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $664.00.
Glencore Stock Performance
GLNCY stock opened at $13.58 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.24 and a debt-to-equity ratio of 0.54. Glencore has a 52 week low of $9.17 and a 52 week high of $14.00. The firm’s fifty day moving average is $11.54 and its 200 day moving average is $11.44.
About Glencore
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.