Brokerages Anticipate Ferro Co. (NYSE:FOE) Will Post Earnings of $0.33 Per Share

Analysts predict that Ferro Co. (NYSE:FOE) will post $0.33 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Ferro’s earnings, with the lowest EPS estimate coming in at $0.32 and the highest estimate coming in at $0.35. Ferro posted earnings per share of $0.44 in the same quarter last year, which would indicate a negative year over year growth rate of 25%. The company is scheduled to issue its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Ferro will report full-year earnings of $1.39 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.40. For the next fiscal year, analysts forecast that the business will report earnings of $1.66 per share, with EPS estimates ranging from $1.60 to $1.77. Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover Ferro.

Ferro (NYSE:FOE) last issued its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Ferro had a return on equity of 30.06% and a net margin of 4.41%. The firm had revenue of $387.50 million during the quarter, compared to analyst estimates of $396.60 million. During the same period last year, the company earned $0.36 EPS. Ferro’s quarterly revenue was down 4.4% compared to the same quarter last year.

A number of brokerages have weighed in on FOE. KeyCorp decreased their target price on Ferro from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Zacks Investment Research lowered General Finance from a “buy” rating to a “hold” rating in a research report on Monday. Deutsche Bank decreased their target price on Trinseo from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. BMO Capital Markets lowered Stornoway Diamond from a “market perform” rating to an “underperform” rating in a research report on Monday, April 1st. Finally, Northcoast Research lowered Ferro from a “buy” rating to a “neutral” rating in a research report on Monday, April 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Ferro presently has an average rating of “Hold” and a consensus target price of $20.17.

Shares of FOE stock traded down $0.18 on Wednesday, reaching $14.58. 809,000 shares of the company’s stock were exchanged, compared to its average volume of 881,019. Ferro has a 52 week low of $13.52 and a 52 week high of $23.88. The company has a quick ratio of 1.47, a current ratio of 2.55 and a debt-to-equity ratio of 2.34. The company has a market cap of $1.20 billion, a PE ratio of 9.72, a PEG ratio of 1.11 and a beta of 1.92. The business has a fifty day moving average of $14.97.

In related news, CEO Peter T. Thomas purchased 17,000 shares of Ferro stock in a transaction dated Thursday, May 9th. The stock was purchased at an average cost of $15.92 per share, with a total value of $270,640.00. Following the transaction, the chief executive officer now owns 677,956 shares in the company, valued at approximately $10,793,059.52. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David A. Lorber purchased 2,500 shares of Ferro stock in a transaction dated Tuesday, May 14th. The stock was bought at an average cost of $15.51 per share, with a total value of $38,775.00. Following the completion of the transaction, the director now owns 22,000 shares in the company, valued at approximately $341,220. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 24,500 shares of company stock valued at $387,490. 2.71% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FOE. Norges Bank bought a new position in shares of Ferro in the 4th quarter worth $11,016,000. Stifel Financial Corp raised its position in shares of Ferro by 3,175.2% in the 4th quarter. Stifel Financial Corp now owns 428,299 shares of the specialty chemicals company’s stock worth $6,688,000 after acquiring an additional 415,222 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Ferro by 11.2% in the 1st quarter. JPMorgan Chase & Co. now owns 2,270,676 shares of the specialty chemicals company’s stock worth $42,985,000 after acquiring an additional 228,960 shares in the last quarter. Keybank National Association OH bought a new position in shares of Ferro in the 1st quarter worth $2,507,000. Finally, Arizona State Retirement System bought a new position in shares of Ferro in the 1st quarter worth $2,433,000. 98.24% of the stock is owned by hedge funds and other institutional investors.

About Ferro

Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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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