Ferro Co. (FOE) Expected to Post Earnings of $0.40 Per Share

Brokerages expect Ferro Co. (NYSE:FOE) to post $0.40 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Ferro’s earnings, with the lowest EPS estimate coming in at $0.39 and the highest estimate coming in at $0.43. Ferro posted earnings per share of $0.33 during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.2%. The business is expected to issue its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Ferro will report full year earnings of $1.59 per share for the current financial year, with EPS estimates ranging from $1.57 to $1.60. For the next fiscal year, analysts expect that the business will post earnings of $1.82 per share, with EPS estimates ranging from $1.70 to $1.95. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Ferro.

Ferro (NYSE:FOE) last released its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $416.20 million during the quarter, compared to analyst estimates of $418.06 million. Ferro had a net margin of 4.34% and a return on equity of 32.63%. Ferro’s revenue was up 19.4% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS.

A number of analysts have recently commented on FOE shares. Gabelli reiterated a “buy” rating on shares of Ferro in a research note on Friday, July 27th. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, August 14th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.00.

In related news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $22.49, for a total value of $247,390.00. Following the sale, the general counsel now owns 179,631 shares in the company, valued at $4,039,901.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.26% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. MetLife Investment Advisors LLC increased its position in Ferro by 7.6% during the second quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock valued at $811,000 after acquiring an additional 2,753 shares during the last quarter. Swiss National Bank increased its position in Ferro by 2.3% during the first quarter. Swiss National Bank now owns 138,500 shares of the specialty chemicals company’s stock valued at $3,216,000 after acquiring an additional 3,100 shares during the last quarter. Rhumbline Advisers increased its position in Ferro by 4.0% during the second quarter. Rhumbline Advisers now owns 81,371 shares of the specialty chemicals company’s stock valued at $1,697,000 after acquiring an additional 3,134 shares during the last quarter. SG Americas Securities LLC increased its position in Ferro by 36.6% during the first quarter. SG Americas Securities LLC now owns 12,241 shares of the specialty chemicals company’s stock valued at $284,000 after acquiring an additional 3,281 shares during the last quarter. Finally, Sei Investments Co. increased its position in Ferro by 4.6% during the second quarter. Sei Investments Co. now owns 77,436 shares of the specialty chemicals company’s stock valued at $1,615,000 after acquiring an additional 3,423 shares during the last quarter. Institutional investors and hedge funds own 96.31% of the company’s stock.

Shares of FOE stock traded down $0.45 during trading hours on Wednesday, reaching $23.37. The company had a trading volume of 2,078 shares, compared to its average volume of 309,339. Ferro has a one year low of $20.07 and a one year high of $25.50. The firm has a market capitalization of $2.00 billion, a PE ratio of 18.47, a P/E/G ratio of 0.96 and a beta of 1.79. The company has a quick ratio of 1.56, a current ratio of 2.67 and a debt-to-equity ratio of 2.12.

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.

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Earnings History and Estimates for Ferro (NYSE:FOE)

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