Zacks: Brokerages Anticipate Ferro Co. (FOE) Will Post Quarterly Sales of $394.76 Million

Equities research analysts forecast that Ferro Co. (NYSE:FOE) will announce $394.76 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ferro’s earnings, with the highest sales estimate coming in at $397.20 million and the lowest estimate coming in at $392.32 million. Ferro posted sales of $405.53 million in the same quarter last year, which suggests a negative year-over-year growth rate of 2.7%. The business is expected to announce its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Ferro will report full year sales of $1.65 billion for the current financial year, with estimates ranging from $1.63 billion to $1.66 billion. For the next financial year, analysts expect that the firm will report sales of $1.72 billion, with estimates ranging from $1.68 billion to $1.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Ferro.

Ferro (NYSE:FOE) last released its quarterly earnings data on Wednesday, February 27th. The specialty chemicals company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The company had revenue of $395.50 million for the quarter, compared to the consensus estimate of $389.36 million. Ferro had a return on equity of 32.99% and a net margin of 4.97%. Ferro’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS.

FOE has been the topic of several research reports. Buckingham Research initiated coverage on Ferro in a report on Friday, January 4th. They set a “buy” rating and a $20.00 price objective on the stock. ValuEngine downgraded Ferro from a “sell” rating to a “strong sell” rating in a report on Thursday, January 17th. Northcoast Research downgraded Ferro from a “buy” rating to a “neutral” rating in a report on Monday, April 1st. BMO Capital Markets downgraded Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 price objective on the stock. in a report on Monday, April 1st. Finally, Zacks Investment Research downgraded Ferro from a “strong-buy” rating to a “hold” rating in a report on Monday, January 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $20.17.

In other Ferro news, CFO Benjamin Schlater sold 7,419 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $20.83, for a total transaction of $154,537.77. Following the transaction, the chief financial officer now directly owns 33,107 shares in the company, valued at approximately $689,618.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.71% of the company’s stock.

Large investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new position in shares of Ferro in the 4th quarter valued at $49,000. Prudential Financial Inc. increased its holdings in shares of Ferro by 8.1% in the 4th quarter. Prudential Financial Inc. now owns 10,480 shares of the specialty chemicals company’s stock valued at $164,000 after acquiring an additional 785 shares during the period. Wakefield Asset Management LLLP purchased a new position in shares of Ferro in the 3rd quarter valued at $248,000. Great West Life Assurance Co. Can increased its holdings in shares of Ferro by 37.2% in the 4th quarter. Great West Life Assurance Co. Can now owns 10,823 shares of the specialty chemicals company’s stock valued at $164,000 after acquiring an additional 2,932 shares during the period. Finally, Jefferies Group LLC increased its holdings in shares of Ferro by 212.8% in the 3rd quarter. Jefferies Group LLC now owns 11,277 shares of the specialty chemicals company’s stock valued at $262,000 after acquiring an additional 21,277 shares during the period. Institutional investors and hedge funds own 98.89% of the company’s stock.

FOE opened at $17.73 on Thursday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.05 and a beta of 1.79. Ferro has a 52 week low of $14.59 and a 52 week high of $24.72. The company has a current ratio of 2.30, a quick ratio of 1.37 and a debt-to-equity ratio of 2.10.

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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