Wall Street brokerages forecast that Ferro Co. (NYSE:FOE) will announce sales of $371.34 million for the current quarter, according to Zacks. Three analysts have provided estimates for Ferro’s earnings. The lowest sales estimate is $352.97 million and the highest is $386.85 million. Ferro reported sales of $395.16 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6%. The company is scheduled to report its next quarterly earnings report on Thursday, November 14th.
On average, analysts expect that Ferro will report full year sales of $1.53 billion for the current financial year, with estimates ranging from $1.51 billion to $1.54 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.57 billion, with estimates ranging from $1.57 billion to $1.58 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ferro.
Ferro (NYSE:FOE) last released its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.02. Ferro had a net margin of 3.28% and a return on equity of 27.77%. The company had revenue of $393.90 million for the quarter, compared to analyst estimates of $415.39 million. During the same period in the previous year, the business earned $0.44 EPS. Ferro’s revenue for the quarter was down 5.4% compared to the same quarter last year.
A number of brokerages recently commented on FOE. ValuEngine upgraded shares of Ferro from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. BMO Capital Markets decreased their price target on shares of Ferro to $15.00 and set a “market perform” rating on the stock in a research note on Thursday, August 8th. Buckingham Research decreased their price target on shares of Ferro from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 10th. Finally, Zacks Investment Research upgraded shares of Ferro from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Ferro currently has an average rating of “Hold” and an average target price of $17.80.
FOE traded down $0.07 on Friday, reaching $11.27. The company had a trading volume of 14,170 shares, compared to its average volume of 665,362. Ferro has a fifty-two week low of $9.73 and a fifty-two week high of $21.28. The stock has a market cap of $897.98 million, a P/E ratio of 7.51, a P/E/G ratio of 0.98 and a beta of 2.07. The company’s fifty day moving average is $11.20 and its 200 day moving average is $14.35. The company has a debt-to-equity ratio of 2.25, a quick ratio of 1.49 and a current ratio of 2.58.
In other Ferro news, CFO Benjamin Schlater sold 2,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $12.36, for a total transaction of $30,900.00. Following the transaction, the chief financial officer now owns 30,055 shares in the company, valued at approximately $371,479.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Mark Hugo Duesenberg sold 35,000 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $10.69, for a total transaction of $374,150.00. Following the transaction, the general counsel now owns 232,863 shares in the company, valued at approximately $2,489,305.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,500 shares of company stock worth $525,600. 2.71% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in FOE. Jane Street Group LLC lifted its stake in Ferro by 7.5% in the 2nd quarter. Jane Street Group LLC now owns 14,349 shares of the specialty chemicals company’s stock valued at $227,000 after purchasing an additional 1,001 shares during the last quarter. Campbell Newman Asset Management Inc. lifted its stake in Ferro by 7.0% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 19,694 shares of the specialty chemicals company’s stock valued at $311,000 after purchasing an additional 1,286 shares during the last quarter. Quantamental Technologies LLC lifted its stake in Ferro by 22.3% in the 2nd quarter. Quantamental Technologies LLC now owns 8,500 shares of the specialty chemicals company’s stock valued at $134,000 after purchasing an additional 1,550 shares during the last quarter. Swiss National Bank lifted its stake in Ferro by 1.5% in the 2nd quarter. Swiss National Bank now owns 146,200 shares of the specialty chemicals company’s stock valued at $2,310,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Wiley BROS. Aintree Capital LLC lifted its stake in Ferro by 25.0% in the 3rd quarter. Wiley BROS. Aintree Capital LLC now owns 19,480 shares of the specialty chemicals company’s stock valued at $452,000 after purchasing an additional 3,900 shares during the last quarter. Hedge funds and other institutional investors own 99.81% of the company’s stock.
Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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.
See Also: What is quantitative easing?
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
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.