Equities Analysts Set Expectations for Ferro Co.’s FY2019 Earnings (FOE)
Ferro Co. (NYSE:FOE) – Stock analysts at Seaport Global Securities issued their FY2019 earnings estimates for shares of Ferro in a research note issued on Wednesday. Seaport Global Securities analyst M. Harrison anticipates that the specialty chemicals company will earn $1.76 per share for the year.
FOE has been the subject of several other reports. ValuEngine downgraded shares of Ferro from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of Ferro from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, KeyCorp reiterated an “overweight” rating and set a $27.00 price objective (up from $23.00) on shares of Ferro in a research note on Friday, October 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $23.80.
Ferro (NYSE:FOE) last announced its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The company had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. Ferro had a net margin of 3.44% and a return on equity of 35.77%. Ferro’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm earned $0.27 earnings per share.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Intrust Bank NA acquired a new position in Ferro during the third quarter valued at $210,000. Prudential Financial Inc. acquired a new position in Ferro during the third quarter valued at $217,000. Amalgamated Bank lifted its position in Ferro by 5.5% during 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 period. Principal Financial Group Inc. lifted its position in Ferro by 1.0% during 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 period. Finally, TIAA FSB acquired a new position in Ferro during the second quarter valued at $256,000. Institutional investors own 97.34% of the company’s stock.
In related news, Chairman Peter T. Thomas sold 73,583 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $23.51, for a total transaction of $1,729,936.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald P. Vargo sold 12,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $24.13, for a total transaction of $289,560.00. Following the transaction, 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. Insiders have sold 177,428 shares of company stock valued at $4,192,872 over the last quarter. Insiders own 2.02% of the company’s stock.
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.
Receive News & Ratings for Ferro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro and related companies with MarketBeat.com's FREE daily email newsletter.