Ferro (FOE) Updates FY18 Earnings Guidance

Ferro (NYSE:FOE) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.55 to $1.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.60.

Shares of FOE traded up $0.50 during mid-day trading on Friday, hitting $18.50. The company’s stock had a trading volume of 1,746,392 shares, compared to its average volume of 1,010,593. Ferro has a 52-week low of $15.59 and a 52-week high of $25.50. The stock has a market capitalization of $1.58 billion, a PE ratio of 14.34, a PEG ratio of 0.76 and a beta of 1.70. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.56 and a current ratio of 2.67.

Ferro (NYSE:FOE) last announced its quarterly earnings results on Thursday, November 8th. The specialty chemicals company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Ferro had a return on equity of 32.63% and a net margin of 4.34%. The business had revenue of $395.16 million during the quarter, compared to analysts’ expectations of $400.74 million. During the same period in the previous year, the company posted $0.33 EPS. Ferro’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts forecast that Ferro will post 1.59 EPS for the current year.

FOE has been the subject of a number of analyst reports. ValuEngine cut shares of Ferro from a hold rating to a sell rating in a research report on Friday, October 12th. Zacks Investment Research raised shares of Ferro from a sell rating to a hold rating in a research report on Tuesday, July 31st. Finally, Gabelli reissued a buy rating on shares of Ferro in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $27.00.

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About Ferro

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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Earnings History and Estimates for Ferro (NYSE:FOE)

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