Ferro Co. (NYSE:FOE) – Equities research analysts at KeyCorp upped their Q2 2018 earnings per share (EPS) estimates for Ferro in a research report issued to clients and investors on Thursday, according to Zacks Investment Research. KeyCorp analyst M. Sison now forecasts that the specialty chemicals company will post earnings per share of $0.46 for the quarter, up from their previous estimate of $0.39. KeyCorp also issued estimates for Ferro’s Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.38 EPS and FY2018 earnings at $1.60 EPS.
FOE has been the subject of several other reports. Seaport Global Securities reaffirmed a “buy” rating on shares of Ferro in a report on Tuesday, March 6th. ValuEngine raised Ferro from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Northcoast Research reaffirmed a “buy” rating and set a $28.00 price objective on shares of Ferro in a report on Tuesday, March 6th. Finally, Zacks Investment Research raised Ferro from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Thursday, January 4th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ferro has a consensus rating of “Buy” and an average target price of $24.50.
Ferro (NYSE FOE) traded down $0.20 on Monday, hitting $23.81. The stock had a trading volume of 384,199 shares, compared to its average volume of 405,324. The firm has a market cap of $2,038.32, a PE ratio of 35.01 and a beta of 1.76. Ferro has a 1-year low of $13.67 and a 1-year high of $25.50. The company has a quick ratio of 1.41, a current ratio of 2.32 and a debt-to-equity ratio of 2.04.
Ferro (NYSE:FOE) last posted its quarterly earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $377.54 million during the quarter, compared to analysts’ expectations of $336.94 million. Ferro had a return on equity of 33.58% and a net margin of 4.08%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the firm earned $0.27 EPS.
In other news, General Counsel Mark Hugo Duesenberg sold 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $23.80, for a total value of $238,000.00. Following the completion of the transaction, the general counsel now directly owns 130,545 shares of the company’s stock, valued at $3,106,971. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Peter T. Thomas sold 73,583 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $23.51, for a total value of $1,729,936.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 130,583 shares of company stock valued at $3,107,836. 2.02% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FOE. Parametric Portfolio Associates LLC raised its holdings in shares of Ferro by 26.1% in the second quarter. Parametric Portfolio Associates LLC now owns 131,690 shares of the specialty chemicals company’s stock worth $2,409,000 after acquiring an additional 27,226 shares during the last quarter. State Street Corp raised its holdings in shares of Ferro by 4.7% in the second quarter. State Street Corp now owns 1,614,889 shares of the specialty chemicals company’s stock worth $29,539,000 after acquiring an additional 72,407 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Ferro by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock worth $1,178,000 after acquiring an additional 519 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Ferro by 90.6% in the third quarter. First Trust Advisors LP now owns 172,159 shares of the specialty chemicals company’s stock worth $3,839,000 after acquiring an additional 81,851 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Ferro by 78.3% in the third quarter. Victory Capital Management Inc. now owns 2,561,811 shares of the specialty chemicals company’s stock worth $57,128,000 after acquiring an additional 1,124,721 shares during the last quarter. 95.72% of the stock is owned by institutional investors.
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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 (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.
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