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.
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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.
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