Ferro Co. (FOE) Expected to Post Quarterly Sales of $383.33 Million

Brokerages predict that Ferro Co. (NYSE:FOE) will announce $383.33 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Ferro’s earnings, with the lowest sales estimate coming in at $381.90 million and the highest estimate coming in at $384.50 million. Ferro reported sales of $320.56 million during the same quarter last year, which indicates a positive year over year growth rate of 19.6%. The firm is expected to report its next earnings report on Tuesday, April 24th.

On average, analysts expect that Ferro will report full-year sales of $1.59 billion for the current fiscal year, with estimates ranging from $1.58 billion to $1.60 billion. For the next year, analysts expect that the business will report sales of $1.66 billion per share, with estimates ranging from $1.63 billion to $1.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Ferro.

How to Become a New Pot Stock Millionaire

Ferro (NYSE:FOE) last released its earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. Ferro had a return on equity of 33.58% and a net margin of 4.08%. The firm had revenue of $377.54 million for the quarter, compared to the consensus estimate of $336.94 million. During the same period in the prior year, the firm earned $0.27 EPS. The firm’s revenue was up 34.2% on a year-over-year basis.

Several equities analysts recently issued reports on FOE shares. Zacks Investment Research raised Ferro from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research report on Thursday, January 11th. ValuEngine raised Ferro from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. BMO Capital Markets assumed coverage on Ferro in a research report on Tuesday, March 27th. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Northcoast Research reaffirmed a “buy” rating and set a $28.00 price target on shares of Ferro in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ferro presently has a consensus rating of “Buy” and an average price target of $25.14.

In other Ferro news, General Counsel Mark Hugo Duesenberg sold 12,000 shares of the stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $24.08, for a total transaction of $288,960.00. Following the sale, the general counsel now directly owns 180,631 shares of the company’s stock, valued at approximately $4,349,594.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.26% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Stone Ridge Asset Management LLC purchased a new stake in shares of Ferro during the 4th quarter worth about $207,000. SG Americas Securities LLC acquired a new stake in shares of Ferro during the 4th quarter worth approximately $211,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Ferro during the 4th quarter worth approximately $237,000. Brown Advisory Inc. acquired a new stake in shares of Ferro during the 4th quarter worth approximately $270,000. Finally, Intrust Bank NA increased its holdings in Ferro by 39.3% in the 4th quarter. Intrust Bank NA now owns 13,104 shares of the specialty chemicals company’s stock valued at $309,000 after purchasing an additional 3,696 shares during the last quarter. 95.87% of the stock is currently owned by institutional investors and hedge funds.

NYSE FOE opened at $24.40 on Wednesday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.41 and a current ratio of 2.32. Ferro has a 1 year low of $14.85 and a 1 year high of $25.50. The firm has a market capitalization of $1,996.28, a P/E ratio of 18.91 and a beta of 1.53.

WARNING: This article was first published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this article on another website, it was illegally copied and reposted in violation of U.S. and international trademark & copyright legislation. The correct version of this article can be viewed at https://ledgergazette.com/2018/04/18/ferro-co-foe-expected-to-post-quarterly-sales-of-383-33-million.html.

Ferro Company Profile

Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; Performance Colors and Glass; and Color Solutions. The company offers frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses, and other specialty coatings.

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

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

Earnings History and Estimates for Ferro (NYSE:FOE)

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.

Leave a Reply