Ferro (NYSE:FOE) announced its quarterly earnings data on Thursday. The specialty chemicals company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03), Briefing.com reports. Ferro had a net margin of 4.34% and a return on equity of 32.63%. The firm had revenue of $395.16 million during the quarter, compared to the consensus estimate of $400.74 million. During the same period last year, the business earned $0.33 EPS. The business’s revenue was up 12.9% on a year-over-year basis. Ferro updated its FY18 guidance to $1.55 to $1.60 EPS.
Shares of NYSE FOE traded up $0.50 during mid-day trading on Friday, reaching $18.50. 1,746,392 shares of the company were exchanged, compared to its average volume of 475,465. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.56 and a current ratio of 2.67. The stock has a market cap of $1.52 billion, a PE ratio of 14.34, a P/E/G ratio of 0.73 and a beta of 1.70. Ferro has a twelve month low of $15.59 and a twelve month high of $25.50.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Broadview Advisors LLC lifted its stake in shares of Ferro by 3.9% during the 3rd quarter. Broadview Advisors LLC now owns 604,353 shares of the specialty chemicals company’s stock worth $14,033,000 after buying an additional 22,950 shares during the last quarter. FMR LLC lifted its stake in shares of Ferro by 19.6% during the 3rd quarter. FMR LLC now owns 2,122,620 shares of the specialty chemicals company’s stock worth $49,287,000 after buying an additional 347,555 shares during the last quarter. Affinity Investment Advisors LLC lifted its stake in shares of Ferro by 26.3% during the 3rd quarter. Affinity Investment Advisors LLC now owns 20,859 shares of the specialty chemicals company’s stock worth $484,000 after buying an additional 4,339 shares during the last quarter. Polaris Capital Management LLC lifted its stake in shares of Ferro by 41.3% during the 3rd quarter. Polaris Capital Management LLC now owns 146,835 shares of the specialty chemicals company’s stock worth $3,410,000 after buying an additional 42,900 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of Ferro by 0.3% during the 3rd quarter. BlackRock Inc. now owns 5,740,439 shares of the specialty chemicals company’s stock worth $133,293,000 after buying an additional 16,055 shares during the last quarter. Institutional investors own 96.35% of the company’s stock.
FOE has been the subject of a number of analyst reports. ValuEngine raised shares of Ferro from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of Ferro from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, Gabelli restated a “buy” rating on shares of Ferro in a research note on Friday, July 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $27.00.
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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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