Ferro Corporation (FOE) Expected to Post Earnings of $0.31 Per Share

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.

TRADEMARK VIOLATION NOTICE: This news story was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://stocknewstimes.com/2017/10/08/ferro-corporation-foe-expected-to-post-earnings-of-0-31-per-share.html.

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.

Get a free copy of the Zacks research report on Ferro Corporation (FOE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ferro Corporation (NYSE:FOE)

Receive News & Ratings for Ferro Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply