Equities Analysts Set Expectations for Ferro Co.’s FY2019 Earnings (FOE)

Ferro Co. (NYSE:FOE) – Stock analysts at Seaport Global Securities issued their FY2019 earnings estimates for shares of Ferro in a research note issued on Wednesday. Seaport Global Securities analyst M. Harrison anticipates that the specialty chemicals company will earn $1.76 per share for the year.

Several other research analysts also recently commented on the stock. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Wednesday, December 27th. KeyCorp reissued an “overweight” rating on shares of Ferro in a report on Friday, November 10th. Finally, ValuEngine downgraded shares of Ferro from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $23.80.

Ferro (NYSE:FOE) traded up $0.72 on Monday, hitting $24.09. 472,800 shares of the company’s stock traded hands, compared to its average volume of 414,492. Ferro has a twelve month low of $13.55 and a twelve month high of $25.50. The company has a market cap of $2,020.12, a P/E ratio of 45.45 and a beta of 1.94. The company has a debt-to-equity ratio of 1.94, a current ratio of 2.48 and a quick ratio of 1.53.

Ferro (NYSE:FOE) last released its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Ferro had a net margin of 3.44% and a return on equity of 35.77%. The business had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. During the same quarter in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 21.3% on a year-over-year basis.

Several large investors have recently made changes to their positions in FOE. Schwab Charles Investment Management Inc. lifted its holdings in shares of Ferro by 4.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 502,605 shares of the specialty chemicals company’s stock valued at $9,193,000 after acquiring an additional 23,080 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Ferro by 17.0% in the 2nd quarter. Legal & General Group Plc now owns 34,936 shares of the specialty chemicals company’s stock valued at $637,000 after acquiring an additional 5,083 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Ferro 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. Swiss National Bank raised its position in Ferro by 7.2% in the 2nd quarter. Swiss National Bank now owns 131,900 shares of the specialty chemicals company’s stock worth $2,412,000 after purchasing an additional 8,900 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Ferro by 14.0% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 345,041 shares of the specialty chemicals company’s stock worth $6,311,000 after purchasing an additional 42,462 shares during the period. 97.34% of the stock is owned by hedge funds and other institutional investors.

In related news, insider James Barna sold 12,000 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $23.37, for a total value of $280,440.00. Following the completion of the transaction, the insider now owns 8,428 shares of the company’s stock, valued at approximately $196,962.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Marran H. Ogilvie purchased 2,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was acquired at an average cost of $23.60 per share, with a total value of $47,200.00. The disclosure for this purchase can be found here. Insiders have sold a total of 177,428 shares of company stock valued at $4,192,872 in the last three months. Insiders own 2.02% of the company’s stock.

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About Ferro

Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.

Earnings History and Estimates for Ferro (NYSE:FOE)

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