Brokerages Anticipate Ferro Co. (NYSE:FOE) Will Announce Earnings of $0.30 Per Share

Equities research analysts expect Ferro Co. (NYSE:FOE) to announce earnings of $0.30 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Ferro’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.32. Ferro posted earnings of $0.12 per share during the same quarter last year, which would indicate a positive year over year growth rate of 150%. The company is scheduled to issue its next quarterly earnings report on Tuesday, August 3rd.

On average, analysts expect that Ferro will report full-year earnings of $1.25 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.30. For the next year, analysts forecast that the business will report earnings of $1.38 per share, with EPS estimates ranging from $1.32 to $1.45. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that follow Ferro.

Ferro (NYSE:FOE) last released its quarterly earnings results on Tuesday, May 11th. The specialty chemicals company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.14. Ferro had a return on equity of 18.31% and a net margin of 13.53%. The company had revenue of $288.40 million during the quarter, compared to analysts’ expectations of $259.87 million. During the same quarter in the prior year, the firm posted $0.26 EPS. Ferro’s quarterly revenue was up 14.3% compared to the same quarter last year.

Several brokerages have recently issued reports on FOE. Seaport Res Ptn cut shares of Ferro from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $22.00 price target on shares of Ferro in a research report on Monday, May 17th. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Thursday, May 13th. G.Research lowered shares of Ferro from a “buy” rating to a “sell” rating in a report on Wednesday, May 12th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Ferro in a report on Tuesday, May 18th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $20.50.

Several hedge funds have recently added to or reduced their stakes in FOE. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ferro by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 742,258 shares of the specialty chemicals company’s stock worth $10,860,000 after acquiring an additional 9,533 shares during the last quarter. Ingalls & Snyder LLC raised its stake in shares of Ferro by 11.3% during the 1st quarter. Ingalls & Snyder LLC now owns 87,749 shares of the specialty chemicals company’s stock worth $1,479,000 after purchasing an additional 8,943 shares during the period. Victory Capital Management Inc. raised its stake in Ferro by 11.9% in the 4th quarter. Victory Capital Management Inc. now owns 11,856 shares of the specialty chemicals company’s stock valued at $173,000 after acquiring an additional 1,265 shares during the period. Verdence Capital Advisors LLC grew its holdings in shares of Ferro by 1.5% during the first quarter. Verdence Capital Advisors LLC now owns 164,253 shares of the specialty chemicals company’s stock worth $2,769,000 after purchasing an additional 2,420 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Ferro by 10.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 14,205 shares of the specialty chemicals company’s stock valued at $208,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 98.38% of the company’s stock.

Shares of NYSE FOE traded up $0.05 during midday trading on Friday, reaching $21.52. 18,634 shares of the company were exchanged, compared to its average volume of 772,179. Ferro has a 1 year low of $10.64 and a 1 year high of $22.00. The company’s fifty day moving average is $19.18. The company has a market capitalization of $1.78 billion, a PE ratio of 13.04 and a beta of 1.55. The company has a current ratio of 2.00, a quick ratio of 1.18 and a debt-to-equity ratio of 0.72.

Ferro Company Profile

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 and Estimates for Ferro (NYSE:FOE)

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