Ferro Corporation (FOE) Issues FY17 Earnings Guidance

Ferro Corporation (NYSE:FOE) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.26-1.29 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.27.

Ferro Corporation (NYSE:FOE) traded up $0.07 during trading on Friday, hitting $23.82. The company had a trading volume of 673,500 shares, compared to its average volume of 651,560. Ferro Corporation has a 12 month low of $13.55 and a 12 month high of $24.84. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53. The stock has a market capitalization of $1,997.47, a PE ratio of 18.61 and a beta of 1.90.

Ferro Corporation (NYSE:FOE) last posted its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. The company had revenue of $350.01 million for the quarter, compared to the consensus estimate of $332.28 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. Ferro Corporation’s revenue was up 21.3% on a year-over-year basis. research analysts anticipate that Ferro Corporation will post 1.29 earnings per share for the current fiscal year.

Several research firms have recently commented on FOE. KeyCorp reaffirmed an overweight rating on shares of Ferro Corporation in a research note on Friday. Zacks Investment Research raised Ferro Corporation from a hold rating to a buy rating and set a $26.00 target price on the stock in a research note on Friday, October 13th. Six equities research analysts have rated the stock with a buy rating, Ferro Corporation presently has a consensus rating of Buy and an average price target of $23.60.

In related news, Director Ronald P. Vargo sold 12,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total transaction of $289,560.00. Following the completion of the transaction, the director now owns 43,450 shares in the company, valued at approximately $1,048,448.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.02% of the stock is owned by insiders.

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Ferro Corporation Company Profile

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.

Earnings History and Estimates for Ferro Corporation (NYSE:FOE)

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