Zacks: Brokerages Anticipate Ferro Co. (FOE) Will Post Earnings of $0.35 Per Share

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.

How to Become a New Pot Stock Millionaire

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.

TRADEMARK VIOLATION WARNING: This piece was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/04/08/zacks-brokerages-anticipate-ferro-co-foe-will-post-earnings-of-0-35-per-share.html.

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.

Get a free copy of the Zacks research report on Ferro (FOE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ferro (NYSE:FOE)

Receive News & Ratings for Ferro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply