Equities research analysts predict that Ferro Corporation (NYSE:FOE) will post earnings per share of $0.31 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ferro Corporation’s earnings, with estimates ranging from $0.29 to $0.33. Ferro Corporation posted earnings of $0.27 per share in the same quarter last year, which would indicate a positive year over year growth rate of 14.8%. The firm is expected to report its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Ferro Corporation will report full year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.25 to $1.30. For the next year, analysts anticipate that the business will post earnings of $1.44 per share, with EPS estimates ranging from $1.35 to $1.50. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Ferro Corporation.
Ferro Corporation (NYSE:FOE) last announced its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.04. The company had revenue of $348.60 million for the quarter, compared to analysts’ expectations of $336.14 million. Ferro Corporation had a net margin of 1.06% and a return on equity of 35.05%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.
Several brokerages have weighed in on FOE. Zacks Investment Research raised Ferro Corporation from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, September 5th. BidaskClub raised Ferro Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. KeyCorp reissued a “buy” rating and set a $23.00 price objective on shares of Ferro Corporation in a report on Friday, September 1st. Finally, Longbow Research reissued a “buy” rating and set a $24.00 price objective (up from $22.00) on shares of Ferro Corporation in a report on Wednesday, August 23rd. Six research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $22.40.
A number of large investors have recently made changes to their positions in FOE. Ameritas Investment Partners Inc. bought a new stake in shares of Ferro Corporation in the 1st quarter valued at about $109,000. Amalgamated Bank increased its stake in shares of Ferro Corporation by 5.5% in the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after acquiring an additional 564 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Ferro Corporation by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 11,652 shares of the specialty chemicals company’s stock valued at $213,000 after acquiring an additional 120 shares during the last quarter. Airain ltd bought a new stake in shares of Ferro Corporation in the 2nd quarter valued at about $214,000. Finally, KCG Holdings Inc. bought a new stake in shares of Ferro Corporation in the 1st quarter valued at about $181,000. 96.56% of the stock is owned by hedge funds and other institutional investors.
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Shares of Ferro Corporation (FOE) traded down 0.04% during trading on Friday, hitting $22.52. 464,804 shares of the stock traded hands. The company has a 50 day moving average of $20.55 and a 200-day moving average of $18.24. The company has a market cap of $1.88 billion, a PE ratio of 159.72 and a beta of 2.05. Ferro Corporation has a 1-year low of $12.46 and a 1-year high of $22.70.
Ferro Corporation Company Profile
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.
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