Ferro Corp. (FOE) Shares Down 3.1%
Ferro Corp. (NYSE:FOE)’s share price fell 3.1% during trading on Wednesday . The stock traded as low as $13.22 and last traded at $13.25, with a volume of 176,108 shares. The stock had previously closed at $13.68.
Several research firms recently commented on FOE. Zacks Investment Research cut Ferro Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, August 10th. TheStreet upgraded Ferro Corp. from a “hold” rating to a “buy” rating in a research report on Monday, August 8th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Ferro Corp. in a research report on Tuesday, July 19th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $14.25.
The stock has a 50 day moving average of $13.13 and a 200 day moving average of $12.68. The stock has a market capitalization of $1.11 billion and a PE ratio of 20.78.
Ferro Corp. (NYSE:FOE) last announced its earnings results on Thursday, July 28th. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The company earned $297.97 million during the quarter, compared to the consensus estimate of $304 million. Ferro Corp.’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. On average, equities research analysts forecast that Ferro Corp. will post $1.04 EPS for the current year.
Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides.
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