Ferro Co. to Post Q3 2017 Earnings of $0.32 Per Share, Seaport Global Securities Forecasts (FOE)
Ferro Co. (NYSE:FOE) – Investment analysts at Seaport Global Securities raised their Q3 2017 earnings per share (EPS) estimates for shares of Ferro in a research report issued to clients and investors on Tuesday. Seaport Global Securities analyst M. Harrison now anticipates that the specialty chemicals company will post earnings per share of $0.32 for the quarter, up from their previous estimate of $0.31. Seaport Global Securities also issued estimates for Ferro’s FY2017 earnings at $1.24 EPS, Q1 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.33 EPS and FY2018 earnings at $1.45 EPS.
FOE has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday. KeyCorp reiterated an “outperform” rating and issued a $18.00 price target (up from $17.00) on shares of Ferro in a research report on Monday, March 6th. Deutsche Bank AG upped their price target on shares of Ferro from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. TheStreet lowered shares of Ferro from a “b-” rating to a “c” rating in a research report on Wednesday, March 29th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $19.00 price target (up from $16.00) on shares of Ferro in a research report on Monday, May 1st. Four equities research analysts have rated the stock with a buy rating, Ferro currently has an average rating of “Buy” and an average target price of $19.25.
Ferro (NYSE:FOE) traded up 0.51% on Friday, reaching $17.82. 57,255 shares of the company traded hands. Ferro has a 1-year low of $11.76 and a 1-year high of $18.30. The stock’s 50-day moving average is $16.02 and its 200-day moving average is $14.77. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 137.08 and a beta of 2.00.
Ferro (NYSE:FOE) last released its quarterly earnings data on Tuesday, April 25th. The specialty chemicals company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The company had revenue of $320.56 million during the quarter, compared to the consensus estimate of $300.58 million. Ferro had a net margin of 4.49% and a return on equity of 27.35%. Ferro’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS.
Institutional investors have recently bought and sold shares of the company. Menta Capital LLC raised its position in Ferro by 34.5% in the fourth quarter. Menta Capital LLC now owns 149,643 shares of the specialty chemicals company’s stock worth $2,144,000 after buying an additional 38,344 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Ferro during the fourth quarter worth $343,000. Essex Investment Management Co. LLC purchased a new position in Ferro during the third quarter worth $1,050,000. Highbridge Capital Management LLC purchased a new position in Ferro during the fourth quarter worth $245,000. Finally, Teachers Advisors LLC raised its position in Ferro by 36.8% in the fourth quarter. Teachers Advisors LLC now owns 1,444,762 shares of the specialty chemicals company’s stock worth $20,703,000 after buying an additional 388,733 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.
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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