Ferro Corporation (NYSE:FOE) released its quarterly earnings data on Wednesday. The specialty chemicals company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02, Bloomberg Earnings reports. The business had revenue of $350.01 million during the quarter, compared to analyst estimates of $332.28 million. Ferro Corporation had a return on equity of 37.60% and a net margin of 3.44%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Ferro Corporation updated its FY17 guidance to $1.26-1.29 EPS.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Ferro Corporation from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday, October 13th. KeyCorp reiterated an “overweight” rating and set a $27.00 price objective (up previously from $23.00) on shares of Ferro Corporation in a research note on Friday, October 13th. Six investment analysts have rated the stock with a buy rating, Ferro Corporation currently has a consensus rating of “Buy” and an average price target of $23.60.
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Ferro Corporation Company Profile
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.
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