GlobalFoundries (NASDAQ:GFS) Releases Q4 Earnings Guidance

GlobalFoundries (NASDAQ:GFS) updated its fourth quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.39-0.51 for the period, compared to the consensus EPS estimate of $0.38. The company issued revenue guidance of $1.80-1.85 billion, compared to the consensus revenue estimate of $1.80 billion. GlobalFoundries also updated its Q4 2024 guidance to 0.390-0.510 EPS.

GlobalFoundries Trading Down 3.2 %

GFS traded down $1.52 during trading on Thursday, reaching $45.27. The company had a trading volume of 3,830,904 shares, compared to its average volume of 1,619,143. The stock has a market cap of $24.98 billion, a P/E ratio of 33.78, a PEG ratio of 5.82 and a beta of 1.53. The company has a quick ratio of 1.59, a current ratio of 2.22 and a debt-to-equity ratio of 0.19. GlobalFoundries has a 52 week low of $35.85 and a 52 week high of $62.61. The business has a 50 day simple moving average of $40.34 and a 200-day simple moving average of $46.53.

GlobalFoundries (NASDAQ:GFS) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.08. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.73 billion. GlobalFoundries had a return on equity of 7.75% and a net margin of 11.82%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. On average, equities analysts anticipate that GlobalFoundries will post 1.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GFS shares. Cantor Fitzgerald restated a “neutral” rating and issued a $40.00 target price on shares of GlobalFoundries in a research report on Wednesday. Robert W. Baird cut their price objective on shares of GlobalFoundries from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley cut shares of GlobalFoundries from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $53.00 to $43.00 in a research report on Monday, October 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of GlobalFoundries in a report on Wednesday. Finally, Susquehanna lowered their price objective on shares of GlobalFoundries from $50.00 to $48.00 and set a “neutral” rating for the company in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, GlobalFoundries presently has a consensus rating of “Hold” and an average price target of $50.46.

About GlobalFoundries

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.