Zacks: Brokerages Anticipate Ferro Co. (FOE) Will Post Quarterly Sales of $404.90 Million

Equities analysts expect Ferro Co. (NYSE:FOE) to post $404.90 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Ferro’s earnings, with the highest sales estimate coming in at $407.90 million and the lowest estimate coming in at $401.53 million. Ferro reported sales of $377.54 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.2%. The firm is scheduled to announce its next earnings report on Wednesday, February 27th.

According to Zacks, analysts expect that Ferro will report full year sales of $1.62 billion for the current year, with estimates ranging from $1.61 billion to $1.62 billion. For the next financial year, analysts expect that the firm will post sales of $1.70 billion, with estimates ranging from $1.66 billion to $1.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Ferro.

Ferro (NYSE:FOE) last released its quarterly earnings data 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 net margin of 3.79% and a return on equity of 32.74%. The firm had revenue of $395.16 million for the quarter, compared to analyst estimates of $400.74 million. During the same period last year, the business earned $0.33 EPS. The company’s revenue was up 12.9% compared to the same quarter last year.

Several brokerages recently issued reports on FOE. ValuEngine lowered Ferro from a “hold” rating to a “sell” rating in a research report on Thursday, December 6th. Deutsche Bank lowered their target price on Ferro from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Buckingham Research began coverage on Ferro in a research report on Friday, January 4th. They set a “buy” rating and a $20.00 target price for the company. Finally, Zacks Investment Research raised Ferro from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Friday, January 4th. One analyst has rated the stock with a sell rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $23.60.

In other news, CFO Benjamin Schlater sold 5,426 shares of Ferro stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $19.53, for a total value of $105,969.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Barna sold 7,500 shares of Ferro stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $19.08, for a total value of $143,100.00. The disclosure for this sale can be found here. 2.26% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of FOE. Wakefield Asset Management LLLP bought a new stake in Ferro in the 3rd quarter valued at about $248,000. Jefferies Group LLC increased its position in Ferro by 212.8% in the 3rd quarter. Jefferies Group LLC now owns 11,277 shares of the specialty chemicals company’s stock valued at $262,000 after buying an additional 21,277 shares in the last quarter. First Hawaiian Bank bought a new stake in Ferro in the 3rd quarter valued at about $276,000. Brown Advisory Inc. bought a new stake in Ferro in the 3rd quarter valued at about $278,000. Finally, Affinity Investment Advisors LLC increased its position in Ferro by 26.3% in the 3rd quarter. Affinity Investment Advisors LLC now owns 20,859 shares of the specialty chemicals company’s stock valued at $484,000 after buying an additional 4,339 shares in the last quarter. 97.96% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE FOE traded down $0.07 during mid-day trading on Wednesday, hitting $16.79. 435,347 shares of the stock traded hands, compared to its average volume of 623,325. The company has a quick ratio of 1.76, a current ratio of 2.85 and a debt-to-equity ratio of 2.38. Ferro has a twelve month low of $14.59 and a twelve month high of $24.88. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 0.56 and a beta of 1.79.

About Ferro

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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