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.
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.
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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.
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