Brokerages Expect Ferro Corporation (FOE) Will Post Earnings of $0.28 Per Share

Analysts expect that Ferro Corporation (NYSE:FOE) will post earnings per share (EPS) of $0.28 for the current quarter, according to Zacks. Three analysts have provided estimates for Ferro Corporation’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.27. Ferro Corporation reported earnings of $0.27 per share during the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The business is expected to report its next quarterly earnings report on Wednesday, March 7th.

According to Zacks, analysts expect that Ferro Corporation will report full-year earnings of $1.29 per share for the current financial year, with EPS estimates ranging from $1.28 to $1.30. For the next financial year, analysts expect that the company will post earnings of $1.50 per share, with EPS estimates ranging from $1.45 to $1.58. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Ferro Corporation.

Ferro Corporation (NYSE:FOE) last released its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS.

A number of analysts have recently weighed in on the company. KeyCorp reiterated an “overweight” rating on shares of Ferro Corporation in a research report on Friday, November 10th. Zacks Investment Research upgraded Ferro Corporation from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Friday, October 13th. Finally, BidaskClub upgraded Ferro Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Six research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus target price of $23.60.

In other Ferro Corporation news, Director Marran H. Ogilvie acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $23.60 per share, for a total transaction of $47,200.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ronald P. Vargo sold 12,000 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total value of $289,560.00. Following the sale, the director now owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The disclosure for this sale can be found here. 2.02% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Intrust Bank NA bought a new position in Ferro Corporation in the third quarter valued at about $210,000. Prudential Financial Inc. bought a new position in Ferro Corporation in the third quarter valued at about $217,000. Amalgamated Bank raised its position in Ferro Corporation by 5.5% in the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after purchasing an additional 564 shares during the last quarter. Principal Financial Group Inc. raised its position in Ferro Corporation by 1.0% in the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after purchasing an additional 120 shares during the last quarter. Finally, Airain ltd bought a new position in Ferro Corporation in the second quarter valued at about $214,000. Institutional investors and hedge funds own 98.16% of the company’s stock.

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Ferro Corporation (FOE) traded up $0.33 during trading hours on Friday, hitting $24.24. The stock had a trading volume of 338,394 shares, compared to its average volume of 516,307. The company has a market cap of $2,005.03, a P/E ratio of 18.68 and a beta of 1.90. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94. Ferro Corporation has a 1 year low of $13.55 and a 1 year high of $24.84.

About Ferro Corporation

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.

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Earnings History and Estimates for Ferro Corporation (NYSE:FOE)

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