Brokerages expect that Ferro Co. (NYSE:FOE) will announce $0.33 earnings per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Ferro’s earnings, with estimates ranging from $0.32 to $0.34. Ferro reported earnings of $0.44 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 25%. The firm is expected to announce its next earnings results on Wednesday, July 24th.
According to Zacks, analysts expect that Ferro will report full-year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.45. For the next fiscal year, analysts forecast that the business will report earnings of $1.71 per share, with EPS estimates ranging from $1.60 to $1.90. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Ferro.
Ferro (NYSE:FOE) last issued its quarterly earnings data on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $387.50 million for the quarter, compared to analysts’ expectations of $396.60 million. Ferro had a return on equity of 30.06% and a net margin of 4.41%. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share.
FOE has been the topic of a number of analyst reports. BMO Capital Markets cut Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 target price on the stock. in a research note on Monday, April 1st. ValuEngine raised Ferro from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Zacks Investment Research raised Ferro from a “sell” rating to a “hold” rating in a research note on Tuesday, June 4th. TheStreet cut Ferro from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. Finally, Deutsche Bank cut their target price on Ferro from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $20.17.
Shares of FOE traded down $0.37 during mid-day trading on Friday, reaching $15.13. 295,861 shares of the company’s stock traded hands, compared to its average volume of 519,021. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 10.09, a P/E/G ratio of 1.15 and a beta of 1.87. Ferro has a 12 month low of $13.52 and a 12 month high of $23.88. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.47 and a current ratio of 2.55.
In other news, Director Allen A. Spizzo purchased 2,500 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average price of $15.90 per share, for a total transaction of $39,750.00. Following the completion of the acquisition, the director now owns 2,500 shares of the company’s stock, valued at $39,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter T. Thomas purchased 17,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average price of $15.92 per share, with a total value of $270,640.00. Following the acquisition, the chief executive officer now directly owns 677,956 shares of the company’s stock, valued at approximately $10,793,059.52. The disclosure for this purchase can be found here. Insiders purchased 24,500 shares of company stock valued at $387,490 in the last quarter. 2.71% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. LS Investment Advisors LLC purchased a new stake in shares of Ferro in the first quarter valued at approximately $47,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Ferro in the fourth quarter valued at approximately $49,000. Quantamental Technologies LLC purchased a new stake in shares of Ferro in the first quarter valued at approximately $132,000. Prudential Financial Inc. boosted its holdings in shares of Ferro by 8.1% in the fourth quarter. Prudential Financial Inc. now owns 10,480 shares of the specialty chemicals company’s stock valued at $164,000 after purchasing an additional 785 shares during the period. Finally, Great West Life Assurance Co. Can lifted its holdings in Ferro by 37.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 10,823 shares of the specialty chemicals company’s stock worth $164,000 after buying an additional 2,932 shares during the period. Hedge funds and other institutional investors own 98.24% of the company’s stock.
Ferro Company Profile
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.
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