$0.28 EPS Expected for Ferro Corporation (FOE) This Quarter

Brokerages expect Ferro Corporation (NYSE:FOE) to report $0.28 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ferro Corporation’s earnings, with estimates ranging from $0.27 to $0.30. Ferro Corporation reported earnings per share of $0.27 during the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The firm is scheduled to announce its next 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 year, with EPS estimates ranging from $1.28 to $1.30. For the next year, analysts expect that the firm 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 calculations are a mean average based on a survey of sell-side research analysts that follow Ferro Corporation.

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

A number of equities analysts have recently commented on FOE shares. Zacks Investment Research raised shares of Ferro Corporation from a “sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, July 31st. KeyCorp reaffirmed an “overweight” rating on shares of Ferro Corporation in a research report on Friday, November 10th. Deutsche Bank AG reaffirmed a “buy” rating and set a $22.00 target price (up from $20.00) on shares of Ferro Corporation in a research report on Monday, July 31st. Finally, BidaskClub raised shares of 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 stock presently has a consensus rating of “Buy” and a consensus price target of $23.60.

TRADEMARK VIOLATION WARNING: This article was posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be viewed at https://ledgergazette.com/2017/11/17/0-28-eps-expected-for-ferro-corporation-foe-this-quarter.html.

Ferro Corporation (FOE) opened at $23.96 on Friday. The company has a market cap of $1,918.66, a P/E ratio of 17.88 and a beta of 1.90. Ferro Corporation has a 1 year low of $13.55 and a 1 year high of $24.84. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48.

In related news, Director Ronald P. Vargo sold 12,000 shares of Ferro Corporation stock in a transaction that occurred 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 directly owns 43,450 shares of the company’s stock, valued at $1,048,448.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Peter T. Thomas sold 22,182 shares of Ferro Corporation stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $22.83, for a total transaction 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. Company insiders own 2.02% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Ferro Corporation by 2,372.0% in the second quarter. JPMorgan Chase & Co. now owns 1,512,327 shares of the specialty chemicals company’s stock valued at $27,661,000 after acquiring an additional 1,451,149 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Ferro Corporation in the second quarter valued at approximately $26,285,000. Paradice Investment Management LLC boosted its stake in Ferro Corporation by 124.5% in the second quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock valued at $27,082,000 after acquiring an additional 1,256,703 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in Ferro Corporation in the third quarter valued at approximately $16,262,000. Finally, Vanguard Group Inc. boosted its stake in Ferro Corporation by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,703,134 shares of the specialty chemicals company’s stock valued at $101,821,000 after acquiring an additional 324,188 shares in the last quarter. 97.57% of the stock is currently owned by institutional investors.

Ferro Corporation 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.

Get a free copy of the Zacks research report on Ferro Corporation (FOE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Ferro Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply