Ferro Corporation (FOE) Expected to Announce Earnings of $0.28 Per Share
Equities research analysts forecast that Ferro Corporation (NYSE:FOE) will report $0.28 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ferro’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.30. Ferro reported earnings per share of $0.27 in the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The company is scheduled to report its next quarterly earnings report on Wednesday, March 7th.
According to Zacks, analysts expect that Ferro will report full year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.28 to $1.30. For the next year, analysts anticipate that the business 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 analysts that that provide coverage for Ferro.
Ferro (NYSE:FOE) last announced its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The company had revenue of $350.01 million for the quarter, compared to analysts’ expectations of $332.28 million. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue was up 21.3% compared to the same quarter last year.
A number of brokerages have recently issued reports on FOE. Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, September 5th. ValuEngine cut Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday. KeyCorp reiterated a “buy” rating and set a $23.00 price objective on shares of Ferro in a research note on Friday, September 1st. Finally, Longbow Research reiterated a “buy” rating and set a $24.00 price objective (up previously from $22.00) on shares of Ferro in a research note on Wednesday, August 23rd. Seven equities research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $23.60.
In related news, Director Ronald P. Vargo sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total transaction of $289,560.00. Following the transaction, the director now directly owns 43,450 shares of the company’s stock, valued at approximately $1,048,448.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter T. Thomas sold 22,182 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total value of $506,415.06. Following the transaction, the chief executive officer now directly owns 374,158 shares in the company, valued at $8,542,027.14. The disclosure for this sale can be found here. 2.02% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Intrust Bank NA acquired a new position in shares of Ferro during the 3rd quarter worth approximately $210,000. Prudential Financial Inc. acquired a new position in shares of Ferro during the 3rd quarter worth approximately $217,000. Amalgamated Bank increased its holdings in shares of Ferro by 5.5% during the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after acquiring an additional 564 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Ferro by 1.0% during the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after acquiring an additional 120 shares during the last quarter. Finally, Airain ltd acquired a new position in shares of Ferro during the 2nd quarter worth approximately $214,000. 98.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ferro (NYSE:FOE) opened at $25.05 on Friday. Ferro has a 12 month low of $13.55 and a 12 month high of $25.50. The stock has a market capitalization of $2,130.00, a P/E ratio of 19.60 and a beta of 1.90. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48.
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Ferro Company Profile
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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