Ferro Co. (FOE) to Post FY2018 Earnings of $1.55 Per Share, Northcoast Research Forecasts

Ferro Co. (NYSE:FOE) – Investment analysts at Northcoast Research dropped their FY2018 earnings per share estimates for Ferro in a report released on Monday, November 12th. Northcoast Research analyst K. Hocevar now expects that the specialty chemicals company will post earnings of $1.55 per share for the year, down from their previous forecast of $1.60. Northcoast Research also issued estimates for Ferro’s FY2019 earnings at $1.90 EPS.

Several other research firms have also recently issued reports on FOE. ValuEngine raised Ferro from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Zacks Investment Research raised Ferro from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. Finally, Gabelli reaffirmed a “buy” rating on shares of Ferro in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $27.00.

Shares of NYSE FOE opened at $19.38 on Wednesday. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 0.79 and a beta of 1.70. Ferro has a 1-year low of $15.59 and a 1-year high of $25.50. The company has a current ratio of 2.85, a quick ratio of 1.76 and a debt-to-equity ratio of 2.38.

Ferro (NYSE:FOE) last issued its quarterly earnings results on Thursday, November 8th. The specialty chemicals company reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.03). Ferro had a return on equity of 32.74% and a net margin of 3.79%. The company had revenue of $395.16 million for the quarter, compared to analysts’ expectations of $400.74 million. During the same quarter last year, the company earned $0.33 EPS. Ferro’s revenue for the quarter was up 12.9% compared to the same quarter last year.

Several large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC boosted its position in shares of Ferro by 7.6% during the 2nd quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock worth $811,000 after acquiring an additional 2,753 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Ferro by 4.0% during the 2nd quarter. Rhumbline Advisers now owns 81,371 shares of the specialty chemicals company’s stock worth $1,697,000 after acquiring an additional 3,134 shares in the last quarter. Sei Investments Co. boosted its position in shares of Ferro by 4.6% during the 2nd quarter. Sei Investments Co. now owns 77,436 shares of the specialty chemicals company’s stock worth $1,615,000 after acquiring an additional 3,423 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in shares of Ferro by 4.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 94,842 shares of the specialty chemicals company’s stock worth $2,202,000 after acquiring an additional 4,021 shares in the last quarter. Finally, Affinity Investment Advisors LLC boosted its position in shares of Ferro by 26.3% during the 3rd quarter. Affinity Investment Advisors LLC now owns 20,859 shares of the specialty chemicals company’s stock worth $484,000 after acquiring an additional 4,339 shares in the last quarter. 96.84% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Ferro (NYSE:FOE)

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