Analysts Offer Predictions for Ferro Corporation’s FY2017 Earnings (FOE)

Ferro Corporation (NYSE:FOE) – Investment analysts at Northcoast Research raised their FY2017 earnings per share (EPS) estimates for Ferro Corporation in a research note issued to investors on Friday. Northcoast Research analyst K. Hocevar now forecasts that the specialty chemicals company will post earnings of $1.29 per share for the year, up from their previous forecast of $1.27. Northcoast Research also issued estimates for Ferro Corporation’s FY2018 earnings at $1.50 EPS.

Ferro Corporation (NYSE:FOE) last issued its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. The company had revenue of $350.01 million for the quarter, compared to analysts’ expectations of $332.28 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. COPYRIGHT VIOLATION NOTICE: This piece was published by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.com-unik.info/2017/11/06/analysts-offer-predictions-for-ferro-corporations-fy2017-earnings-foe.html.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research raised Ferro Corporation from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Friday, October 13th. KeyCorp restated an “overweight” rating and set a $27.00 target price (up previously from $23.00) on shares of Ferro Corporation in a research report on Friday, October 13th. Six investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $23.60.

Shares of Ferro Corporation (NYSE FOE) opened at $24.41 on Monday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.53 and a current ratio of 2.48. Ferro Corporation has a 52 week low of $12.59 and a 52 week high of $24.84. The firm has a market capitalization of $2,046.96, a P/E ratio of 19.07 and a beta of 1.90.

Several hedge funds and other institutional investors have recently made changes to their positions in FOE. KCG Holdings Inc. purchased a new stake in Ferro Corporation during the first quarter worth $181,000. Amalgamated Bank lifted its holdings in Ferro Corporation by 5.5% during the second quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock worth $197,000 after buying an additional 564 shares during the period. Principal Financial Group Inc. lifted its holdings in Ferro Corporation by 1.0% during the second quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock worth $213,000 after buying an additional 120 shares during the period. Airain ltd purchased a new stake in Ferro Corporation during the second quarter worth $214,000. Finally, Prudential Financial Inc. purchased a new stake in Ferro Corporation during the third quarter worth $217,000. Hedge funds and other institutional investors own 98.82% of the company’s stock.

About Ferro Corporation

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.

Earnings History and Estimates for Ferro Corporation (NYSE:FOE)

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