Ferro (NYSE:FOE) released its quarterly earnings results on Thursday. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03), Briefing.com reports. The company had revenue of $395.16 million during the quarter, compared to analysts’ expectations of $400.74 million. Ferro had a net margin of 4.34% and a return on equity of 32.63%. Ferro’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $0.33 earnings per share. Ferro updated its FY18 guidance to $1.55 to $1.60 EPS.
FOE traded up $0.50 during trading hours on Friday, hitting $18.50. 1,746,392 shares of the company’s stock were exchanged, compared to its average volume of 475,465. Ferro has a 12-month low of $15.59 and a 12-month high of $25.50. The company has a market cap of $1.52 billion, a P/E ratio of 14.34, a PEG ratio of 0.73 and a beta of 1.70. The company has a quick ratio of 1.56, a current ratio of 2.67 and a debt-to-equity ratio of 2.12.
A number of institutional investors and hedge funds have recently made changes to their positions in FOE. Victory Capital Management Inc. increased its stake in Ferro by 28.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,240,552 shares of the specialty chemicals company’s stock worth $88,417,000 after buying an additional 942,354 shares during the period. Luminus Management LLC grew its holdings in Ferro by 52.9% during the 2nd quarter. Luminus Management LLC now owns 2,663,037 shares of the specialty chemicals company’s stock worth $55,525,000 after acquiring an additional 921,179 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Ferro by 42.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,216,520 shares of the specialty chemicals company’s stock worth $51,468,000 after acquiring an additional 655,644 shares in the last quarter. BlackRock Inc. grew its holdings in Ferro by 8.1% during the 2nd quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock worth $119,353,000 after acquiring an additional 428,281 shares in the last quarter. Finally, FMR LLC grew its holdings in Ferro by 19.6% during the 3rd quarter. FMR LLC now owns 2,122,620 shares of the specialty chemicals company’s stock worth $49,287,000 after acquiring an additional 347,555 shares in the last quarter. 96.35% of the stock is currently owned by hedge funds and other institutional investors.
FOE has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Ferro from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Zacks Investment Research downgraded shares of Ferro from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Gabelli reissued a “buy” rating on shares of Ferro in a research note on Friday, July 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.00.
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Ferro Company Profile
Ferro Corporation produces specialty materials in the United States and internationally. It operates through four business units: Tile Coating Systems; Porcelain Enamel; Performance Colors and Glass; 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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