Brokerages predict that Ferro Co. (NYSE:FOE) will report sales of $425.53 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Ferro’s earnings. The highest sales estimate is $437.14 million and the lowest is $413.34 million. Ferro posted sales of $416.24 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The company is scheduled to report its next earnings results on Wednesday, July 24th.
On average, analysts expect that Ferro will report full-year sales of $1.63 billion for the current fiscal year, with estimates ranging from $1.60 billion to $1.66 billion. For the next financial year, analysts anticipate that the business will report sales of $1.70 billion, with estimates ranging from $1.64 billion to $1.74 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Ferro.
Ferro (NYSE:FOE) last announced its quarterly earnings results on Wednesday, May 1st. The specialty chemicals company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The firm had revenue of $387.50 million during the quarter, compared to analysts’ expectations of $396.60 million. Ferro had a net margin of 4.41% and a return on equity of 30.06%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 EPS.
Several equities research analysts have issued reports on FOE shares. TheStreet lowered shares of Ferro from a “b-” rating to a “c+” rating in a research report on Wednesday, May 29th. Zacks Investment Research raised Ferro from a “sell” rating to a “hold” rating in a research report on Tuesday, June 4th. Deutsche Bank decreased their price objective on Ferro from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. KeyCorp decreased their price objective on Ferro from $26.00 to $23.00 and set an “overweight” rating for the company in a research report on Tuesday, April 2nd. Finally, BMO Capital Markets cut Ferro from an “outperform” rating to a “market perform” rating and set a $18.83 price objective for the company. in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $20.17.
In related news, Director Allen A. Spizzo purchased 2,500 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were acquired at an average cost of $15.90 per share, with a total value of $39,750.00. Following the completion of the purchase, the director now owns 2,500 shares of the company’s stock, valued at approximately $39,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Peter T. Thomas purchased 17,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was bought at an average cost of $15.92 per share, for a total transaction of $270,640.00. Following the completion of the purchase, the chief executive officer now directly owns 677,956 shares of the company’s stock, valued at approximately $10,793,059.52. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 24,500 shares of company stock valued at $387,490. 2.71% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. LS Investment Advisors LLC bought a new position in shares of Ferro in the first quarter valued at $47,000. NumerixS Investment Technologies Inc bought a new position in shares of Ferro during the fourth quarter valued at about $49,000. Quantamental Technologies LLC bought a new position in shares of Ferro during the first quarter valued at about $132,000. Prudential Financial Inc. lifted its position in shares of Ferro by 8.1% during the fourth quarter. Prudential Financial Inc. now owns 10,480 shares of the specialty chemicals company’s stock valued at $164,000 after purchasing an additional 785 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Ferro by 37.2% during the fourth quarter. Great West Life Assurance Co. Can now owns 10,823 shares of the specialty chemicals company’s stock valued at $164,000 after purchasing an additional 2,932 shares in the last quarter. 98.24% of the stock is currently owned by hedge funds and other institutional investors.
NYSE FOE traded down $0.01 on Tuesday, hitting $15.07. 1,022,800 shares of the company were exchanged, compared to its average volume of 904,911. The stock has a market capitalization of $1.26 billion, a P/E ratio of 10.05, a PEG ratio of 1.17 and a beta of 1.87. Ferro has a 12 month low of $13.52 and a 12 month high of $23.88. The stock’s fifty day moving average is $14.92. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.47 and a current ratio of 2.55.
Ferro Company Profile
Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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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