Equities analysts predict that Ferro Co. (NYSE:FOE) will report sales of $413.73 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Ferro’s earnings. The lowest sales estimate is $408.19 million and the highest is $420.20 million. Ferro posted sales of $348.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18.7%. The business is expected to announce its next earnings report on Wednesday, July 25th.
On average, analysts expect that Ferro will report full year sales of $1.62 billion for the current fiscal year, with estimates ranging from $1.59 billion to $1.66 billion. For the next fiscal year, analysts expect that the business will post sales of $1.69 billion per share, with estimates ranging from $1.63 billion to $1.76 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Ferro.
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Ferro (NYSE:FOE) last released its quarterly earnings data on Tuesday, May 1st. The specialty chemicals company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. Ferro had a net margin of 3.95% and a return on equity of 32.32%. The firm had revenue of $405.50 million for the quarter, compared to analysts’ expectations of $380.56 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 26.5% compared to the same quarter last year.
A number of equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Monday. ValuEngine cut shares of Ferro from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. BMO Capital Markets assumed coverage on shares of Ferro in a research report on Tuesday, March 27th. They issued an “outperform” rating and a $29.00 price objective on the stock. Seaport Global Securities restated a “buy” rating on shares of Ferro in a research report on Tuesday, March 6th. Finally, Northcoast Research restated a “buy” rating and issued a $28.00 price objective on shares of Ferro in a research report on Tuesday, March 6th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Ferro presently has an average rating of “Buy” and a consensus target price of $25.67.
In related news, General Counsel Mark Hugo Duesenberg sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $24.08, for a total transaction of $288,960.00. Following the transaction, the general counsel now owns 180,631 shares in the company, valued at $4,349,594.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FOE. Stone Ridge Asset Management LLC purchased a new position in shares of Ferro during the fourth quarter valued at about $207,000. SG Americas Securities LLC bought a new stake in Ferro during the fourth quarter worth about $211,000. Xact Kapitalforvaltning AB bought a new stake in Ferro during the fourth quarter worth about $237,000. Brown Advisory Inc. bought a new stake in Ferro during the fourth quarter worth about $270,000. Finally, Pitcairn Co. boosted its stake in Ferro by 39.2% during the first quarter. Pitcairn Co. now owns 13,120 shares of the specialty chemicals company’s stock worth $304,000 after acquiring an additional 3,692 shares in the last quarter. Institutional investors own 95.69% of the company’s stock.
Shares of Ferro traded down $0.27, reaching $21.29, during mid-day trading on Friday, Marketbeat Ratings reports. The stock had a trading volume of 16,680 shares, compared to its average volume of 426,645. Ferro has a 52-week low of $21.15 and a 52-week high of $21.75. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.82 and a beta of 1.54. The company has a current ratio of 2.51, a quick ratio of 1.49 and a debt-to-equity ratio of 1.98.
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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