Equities analysts predict that Ferro Co. (NYSE:FOE) will post $0.41 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ferro’s earnings. The lowest EPS estimate is $0.39 and the highest is $0.43. Ferro posted earnings per share of $0.33 in the same quarter last year, which would suggest a positive year over year growth rate of 24.2%. The firm is expected to issue its next quarterly earnings results on Wednesday, November 7th.
On average, analysts expect that Ferro will report full-year earnings of $1.59 per share for the current year, with EPS estimates ranging from $1.57 to $1.60. For the next year, analysts forecast that the business will report earnings of $1.82 per share, with EPS estimates ranging from $1.70 to $1.95. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Ferro.
Ferro (NYSE:FOE) last issued its earnings results on Wednesday, July 25th. The specialty chemicals company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Ferro had a net margin of 4.34% and a return on equity of 32.63%. The business had revenue of $416.20 million during the quarter, compared to analysts’ expectations of $418.06 million. During the same quarter in the prior year, the business posted $0.37 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis.
Several research analysts have recently issued reports on the stock. Gabelli restated a “buy” rating on shares of Ferro in a report on Friday, July 27th. Zacks Investment Research cut shares of Ferro from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Finally, ValuEngine cut shares of Ferro from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $26.40.
Shares of Ferro stock opened at $21.29 on Thursday. Ferro has a 12-month low of $18.46 and a 12-month high of $25.50. The company has a quick ratio of 1.56, a current ratio of 2.67 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $1.89 billion, a PE ratio of 16.50, a P/E/G ratio of 0.91 and a beta of 1.68.
In related news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $22.49, for a total transaction of $247,390.00. Following the completion of the sale, the general counsel now owns 179,631 shares in the company, valued at approximately $4,039,901.19. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.26% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Swiss National Bank boosted its stake in Ferro by 2.3% during the 1st quarter. Swiss National Bank now owns 138,500 shares of the specialty chemicals company’s stock worth $3,216,000 after purchasing an additional 3,100 shares during the period. James Investment Research Inc. acquired a new stake in Ferro during the 2nd quarter worth $2,212,000. Wells Fargo & Company MN boosted its stake in Ferro by 47.2% during the 1st quarter. Wells Fargo & Company MN now owns 353,503 shares of the specialty chemicals company’s stock worth $8,208,000 after purchasing an additional 113,292 shares during the period. US Bancorp DE boosted its stake in Ferro by 23.7% during the 1st quarter. US Bancorp DE now owns 38,136 shares of the specialty chemicals company’s stock worth $885,000 after purchasing an additional 7,307 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Ferro by 29.2% during the 1st quarter. Neuberger Berman Group LLC now owns 31,000 shares of the specialty chemicals company’s stock worth $720,000 after purchasing an additional 7,000 shares during the period. Hedge funds and other institutional investors own 95.69% of the company’s stock.
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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