Ferro (FOE) Posts Earnings Results, Misses Expectations By $0.03 EPS

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Ferro (NYSE:FOE) announced its quarterly earnings results on Thursday. The specialty chemicals company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03), Briefing.com reports. The company had revenue of $395.16 million during the quarter, compared to the consensus estimate of $400.74 million. Ferro had a return on equity of 32.63% and a net margin of 4.34%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Ferro updated its FY18 guidance to $1.55 to $1.60 EPS.

NYSE FOE traded up $0.50 during trading hours on Friday, hitting $18.50. 1,746,392 shares of the company’s stock traded hands, compared to its average volume of 475,465. The company has a current ratio of 2.67, a quick ratio of 1.56 and a debt-to-equity ratio of 2.12. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 14.34, a price-to-earnings-growth ratio of 0.73 and a beta of 1.70. Ferro has a 52 week low of $15.59 and a 52 week high of $25.50.

A number of hedge funds and other institutional investors have recently made changes to their positions in FOE. Victory Capital Management Inc. grew its position in Ferro by 28.6% during the second quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock valued at $88,417,000 after buying an additional 942,354 shares during the period. Luminus Management LLC grew its position in Ferro by 52.9% during the second quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock valued at $55,525,000 after buying an additional 921,179 shares during the period. Massachusetts Financial Services Co. MA grew its position in Ferro by 42.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,216,520 shares of the specialty chemicals company’s stock valued at $51,468,000 after buying an additional 655,644 shares during the period. BlackRock Inc. grew its position in Ferro by 8.1% during the second quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock valued at $119,353,000 after buying an additional 428,281 shares during the period. Finally, FMR LLC grew its position in Ferro by 19.6% during the third quarter. FMR LLC now owns 2,122,620 shares of the specialty chemicals company’s stock valued at $49,287,000 after buying an additional 347,555 shares during the period. Institutional investors own 96.35% of the company’s stock.

FOE has been the subject of several recent research reports. ValuEngine lowered shares of Ferro from a “hold” rating to a “sell” rating in a research report on Friday, October 12th. Zacks Investment Research lowered shares of Ferro from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Gabelli restated a “buy” rating on shares of Ferro in a research report on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $27.00.

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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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Earnings History for Ferro (NYSE:FOE)

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