Ferro (FOE) Announces Quarterly Results
Ferro (NYSE:FOE) issued its quarterly earnings data on Wednesday. The company reported $0.19 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.02, AmericanBankingNews.com reports. The company had revenue of $294.20 million for the quarter, compared to the consensus estimate of $343.31 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. Ferro updated its FY14 guidance to $0.52-0.57 EPS.
Ferro (NYSE:FOE) traded down 5.52% during mid-day trading on Wednesday, hitting $11.98. The stock had a trading volume of 1,204,887 shares. Ferro has a 52 week low of $6.37 and a 52 week high of $14.97. The stock’s 50-day moving average is $12.65 and its 200-day moving average is $13.01. The company has a market cap of $1.041 billion and a price-to-earnings ratio of 12.57.
FOE has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Ferro in a research note on Thursday, June 12th. They now have a $15.00 price target on the stock, down previously from $16.00. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Ferro in a research note on Friday, June 6th. They now have a $12.00 price target on the stock, down previously from $13.00.
Ferro Corporation (NYSE:FOE) is a producer of specialty materials and chemicals that are sold to a range of manufacturers who, in turn, make products for many end-use markets.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.