Q3 2016 Earnings Forecast for Ferro Corp. (FOE) Issued By Seaport Global Securities
Ferro Corp. (NYSE:FOE) – Stock analysts at Seaport Global Securities reduced their Q3 2016 earnings per share estimates for shares of Ferro Corp. in a research report issued on Monday. Seaport Global Securities analyst M. Harrison now forecasts that the firm will earn $0.25 per share for the quarter, down from their prior estimate of $0.26. Seaport Global Securities also issued estimates for Ferro Corp.’s Q4 2016 earnings at $0.20 EPS, FY2016 earnings at $1.02 EPS, Q1 2017 earnings at $0.29 EPS, Q2 2017 earnings at $0.35 EPS, Q3 2017 earnings at $0.31 EPS and FY2017 earnings at $1.21 EPS.
Ferro Corp. (NYSE:FOE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.07. Ferro Corp. had a net margin of 4.96% and a return on equity of 26.92%. The business earned $297.97 million during the quarter, compared to the consensus estimate of $304 million. During the same quarter last year, the company posted $0.20 earnings per share. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year.
A number of other research firms have also recently issued reports on FOE. Zacks Investment Research cut shares of Ferro Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 10th. Deutsche Bank AG restated a “buy” rating on shares of Ferro Corp. in a report on Tuesday, July 19th. Finally, TheStreet upgraded shares of Ferro Corp. from a “hold” rating to a “buy” rating in a research note on Monday, August 8th.
Ferro Corp. (NYSE:FOE) traded down 1.05% during mid-day trading on Tuesday, reaching $13.21. 179,719 shares of the company were exchanged. The stock has a 50-day moving average price of $13.22 and a 200 day moving average price of $13.25. Ferro Corp. has a one year low of $8.47 and a one year high of $14.88. The company has a market capitalization of $1.10 billion, a PE ratio of 20.51 and a beta of 1.89.
Large investors have recently added to or reduced their stakes in the stock. Smith Graham & Co. Investment Advisors LP bought a new stake in Ferro Corp. during the third quarter valued at $4,836,000. Beach Investment Counsel Inc. PA boosted its position in shares of Ferro Corp. by 10.1% in the second quarter. Beach Investment Counsel Inc. PA now owns 48,047 shares of the company’s stock worth $643,000 after buying an additional 4,391 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of Ferro Corp. by 15.2% in the second quarter. Wolverine Asset Management LLC now owns 38,000 shares of the company’s stock worth $508,000 after buying an additional 5,000 shares in the last quarter. Balter Liquid Alternatives LLC boosted its position in shares of Ferro Corp. by 61.6% in the second quarter. Balter Liquid Alternatives LLC now owns 147,380 shares of the company’s stock worth $1,972,000 after buying an additional 56,157 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Ferro Corp. by 9.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 386,664 shares of the company’s stock worth $5,174,000 after buying an additional 34,274 shares in the last quarter. Institutional investors and hedge funds own 90.07% of the company’s stock.
About Ferro Corp.
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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