Ferro (NYSE:FOE) Posts Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Ferro (NYSE:FOE) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.14, MarketWatch Earnings reports. Ferro had a negative net margin of 0.66% and a positive return on equity of 16.41%. The firm had revenue of $288.40 million for the quarter, compared to analysts’ expectations of $259.87 million. During the same quarter in the prior year, the business earned $0.26 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis.

Shares of NYSE FOE traded down $0.28 during midday trading on Wednesday, reaching $21.50. 492,295 shares of the stock traded hands, compared to its average volume of 566,975. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.64 and a quick ratio of 1.80. The stock has a market capitalization of $1.78 billion, a PE ratio of -358.27, a P/E/G ratio of 1.81 and a beta of 1.65. Ferro has a one year low of $9.50 and a one year high of $22.00. The company’s 50 day moving average is $17.12 and its 200 day moving average is $15.53.

Several research firms recently issued reports on FOE. Seaport Global Securities lowered shares of Ferro from a “buy” rating to a “neutral” rating in a report on Wednesday. Gabelli lowered shares of Ferro from a “buy” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research lowered shares of Ferro from a “hold” rating to a “sell” rating in a report on Monday, March 1st. JPMorgan Chase & Co. lowered shares of Ferro from a “neutral” rating to an “underweight” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Ferro from a “buy” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $16.67.

In related news, CEO Peter T. Thomas sold 11,313 shares of the firm’s stock in a transaction on Tuesday, February 23rd. The stock was sold at an average price of $15.47, for a total value of $175,012.11. Following the completion of the sale, the chief executive officer now directly owns 858,118 shares in the company, valued at $13,275,085.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Hugo Duesenberg sold 15,854 shares of the firm’s stock in a transaction on Tuesday, February 23rd. The stock was sold at an average price of $15.36, for a total value of $243,517.44. Following the completion of the sale, the general counsel now owns 243,379 shares of the company’s stock, valued at $3,738,301.44. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by corporate insiders.

About Ferro

Ferro Corporation produces and markets specialty materials in the United States, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It operates through two segments, Functional Coatings 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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