Brokerages Expect Ferro Co. (FOE) Will Announce Earnings of $0.28 Per Share

Equities research analysts predict that Ferro Co. (NYSE:FOE) will announce earnings of $0.28 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ferro’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.30. Ferro reported earnings per share of $0.27 in the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The business is expected to announce its next quarterly earnings report on Wednesday, March 7th.

On average, analysts expect that Ferro will report full year earnings of $1.29 per share for the current year, with EPS estimates ranging from $1.28 to $1.30. For the next financial year, analysts anticipate that the firm will post earnings of $1.50 per share, with EPS estimates ranging from $1.45 to $1.58. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ferro.

Ferro (NYSE:FOE) last posted its earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The business had revenue of $350.01 million during the quarter, compared to analysts’ expectations of $332.28 million. During the same period in the previous year, the business earned $0.27 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis.

A number of equities analysts have recently issued reports on FOE shares. Zacks Investment Research cut Ferro from a “buy” rating to a “hold” rating in a report on Monday, September 11th. KeyCorp reiterated an “overweight” rating on shares of Ferro in a report on Friday, November 10th. Finally, ValuEngine cut Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $23.80.

Ferro (NYSE FOE) opened at $23.96 on Friday. Ferro has a fifty-two week low of $13.55 and a fifty-two week high of $25.50. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94. The stock has a market capitalization of $2,010.00, a PE ratio of 46.08 and a beta of 1.94.

In related news, CEO Peter T. Thomas sold 22,182 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $22.83, for a total transaction of $506,415.06. Following the completion of the sale, the chief executive officer now directly owns 374,158 shares in the company, valued at approximately $8,542,027.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James Barna sold 12,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $23.37, for a total value of $280,440.00. Following the sale, the insider now owns 8,428 shares of the company’s stock, valued at $196,962.36. The disclosure for this sale can be found here. Insiders sold a total of 160,428 shares of company stock valued at $3,771,952 over the last quarter. Company insiders own 2.02% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Ferro by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 6,756,554 shares of the specialty chemicals company’s stock valued at $123,578,000 after acquiring an additional 53,420 shares during the period. BlackRock Inc. boosted its holdings in Ferro by 0.8% during the 2nd quarter. BlackRock Inc. now owns 5,361,227 shares of the specialty chemicals company’s stock valued at $98,057,000 after acquiring an additional 41,297 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Ferro by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,353,739 shares of the specialty chemicals company’s stock valued at $74,788,000 after acquiring an additional 27,427 shares during the period. Paradice Investment Management LLC boosted its holdings in Ferro by 46.4% during the 3rd quarter. Paradice Investment Management LLC now owns 3,318,174 shares of the specialty chemicals company’s stock valued at $43,667,000 after acquiring an additional 1,051,915 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Ferro by 78.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,561,811 shares of the specialty chemicals company’s stock valued at $57,128,000 after acquiring an additional 1,124,721 shares during the period. Institutional investors own 97.26% of the company’s stock.

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Ferro Company Profile

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

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Earnings History and Estimates for Ferro (NYSE:FOE)

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