Ferro Co. (NYSE:FOE) – Analysts at Seaport Global Securities decreased their FY2018 earnings estimates for Ferro in a research note issued to investors on Thursday, August 16th. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will earn $1.58 per share for the year, down from their previous estimate of $1.60. Seaport Global Securities also issued estimates for Ferro’s Q4 2018 earnings at $0.38 EPS, Q1 2019 earnings at $0.43 EPS, Q2 2019 earnings at $0.49 EPS, Q3 2019 earnings at $0.45 EPS, Q4 2019 earnings at $0.45 EPS and FY2019 earnings at $1.81 EPS.
Several other research firms have also issued reports on FOE. Zacks Investment Research raised shares of Ferro from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Gabelli reaffirmed a “buy” rating on shares of Ferro in a research note on Friday, July 27th. Finally, ValuEngine lowered shares of Ferro from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Ferro currently has a consensus rating of “Buy” and a consensus price target of $26.40.
FOE stock opened at $21.60 on Monday. The company has a debt-to-equity ratio of 2.12, a current ratio of 2.67 and a quick ratio of 1.56. Ferro has a 1 year low of $18.82 and a 1 year high of $25.50. The firm has a market capitalization of $1.79 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 0.86 and a beta of 1.68.
Ferro (NYSE:FOE) last released its quarterly earnings data 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 analyst estimates of $418.06 million. During the same quarter in the previous year, the business earned $0.37 EPS. Ferro’s quarterly revenue was up 19.4% compared to the same quarter last year.
In related news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of Ferro stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $22.49, for a total value of $247,390.00. Following the completion of the sale, the general counsel now owns 179,631 shares of the company’s stock, valued at approximately $4,039,901.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.26% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Mount Yale Investment Advisors LLC bought a new position in Ferro in the 1st quarter worth $100,000. SG Americas Securities LLC raised its holdings in Ferro by 36.6% in the 1st quarter. SG Americas Securities LLC now owns 12,241 shares of the specialty chemicals company’s stock worth $284,000 after acquiring an additional 3,281 shares during the period. Pitcairn Co. raised its holdings in Ferro by 39.2% in the 1st quarter. Pitcairn Co. now owns 13,120 shares of the specialty chemicals company’s stock worth $304,000 after acquiring an additional 3,692 shares during the period. Sheets Smith Wealth Management bought a new position in Ferro in the 2nd quarter worth $287,000. Finally, Xact Kapitalforvaltning AB raised its holdings in Ferro by 56.7% in the 1st quarter. Xact Kapitalforvaltning AB now owns 15,760 shares of the specialty chemicals company’s stock worth $366,000 after acquiring an additional 5,700 shares during the period. Hedge funds and other institutional investors own 95.45% of the company’s stock.
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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