Wall Street brokerages expect Ferro Co. (NYSE:FOE) to report earnings of $0.35 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Ferro’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.38. Ferro posted earnings of $0.31 per share in the same quarter last year, which indicates a positive year over year growth rate of 12.9%. The company is scheduled to announce its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that Ferro will report full year earnings of $1.60 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.65. For the next financial year, analysts forecast that the firm will report earnings of $1.81 per share, with EPS estimates ranging from $1.75 to $1.90. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Ferro.
Ferro (NYSE:FOE) last issued its quarterly earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $377.54 million during the quarter, compared to analyst estimates of $336.94 million. Ferro had a net margin of 4.08% and a return on equity of 33.58%. Ferro’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 earnings per share.
A number of brokerages recently weighed in on FOE. Seaport Global Securities reissued a “buy” rating on shares of Ferro in a report on Tuesday, March 6th. Zacks Investment Research lowered shares of Ferro from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine lowered shares of Ferro from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Northcoast Research reissued a “buy” rating and issued a $28.00 price target on shares of Ferro in a report on Tuesday, March 6th. Finally, BMO Capital Markets began coverage on shares of Ferro in a report on Tuesday, March 27th. They issued an “outperform” rating and a $29.00 price target for the company. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.14.
In other Ferro news, General Counsel Mark Hugo Duesenberg sold 12,000 shares of Ferro stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $24.08, for a total transaction of $288,960.00. Following the completion of the sale, the general counsel now owns 180,631 shares of the company’s stock, valued at approximately $4,349,594.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.02% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stone Ridge Asset Management LLC acquired a new stake in Ferro during the 4th quarter worth $207,000. SG Americas Securities LLC acquired a new stake in Ferro during the 4th quarter worth $211,000. Prudential Financial Inc. acquired a new stake in Ferro during the 3rd quarter worth $217,000. Xact Kapitalforvaltning AB acquired a new stake in Ferro during the 4th quarter worth $237,000. Finally, Brown Advisory Inc. acquired a new stake in Ferro during the 4th quarter worth $270,000. 95.88% of the stock is owned by hedge funds and other institutional investors.
Shares of Ferro stock traded down $0.31 during midday trading on Friday, reaching $23.51. The company had a trading volume of 640,072 shares, compared to its average volume of 437,191. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.32 and a quick ratio of 1.41. The firm has a market cap of $2,003.00, a P/E ratio of 18.22 and a beta of 1.53. Ferro has a 1-year low of $14.85 and a 1-year high of $25.50.
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Ferro Company Profile
Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; Performance Colors and Glass; and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.
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