Ferro Co. (NYSE:FOE) – Investment analysts at Seaport Global Securities issued their FY2019 earnings estimates for shares of Ferro in a note issued to investors on Wednesday. Seaport Global Securities analyst M. Harrison forecasts that the specialty chemicals company will earn $1.76 per share for the year.
Ferro (NYSE:FOE) last released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. The company had revenue of $350.01 million during the quarter, compared to the consensus estimate of $332.28 million. Ferro had a return on equity of 35.77% and a net margin of 3.44%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.27 EPS.
FOE has been the subject of several other research reports. Zacks Investment Research cut Ferro from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. ValuEngine cut Ferro from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, KeyCorp reissued an “overweight” rating and set a $27.00 price objective (up previously from $23.00) on shares of Ferro in a research report on Friday, October 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Ferro presently has an average rating of “Buy” and a consensus target price of $23.80.
Ferro (FOE) traded up $0.02 during midday trading on Monday, hitting $23.88. The company had a trading volume of 296,636 shares, compared to its average volume of 400,713. Ferro has a fifty-two week low of $13.55 and a fifty-two week high of $25.50. The company has a quick ratio of 1.53, a current ratio of 2.48 and a debt-to-equity ratio of 1.94. The firm has a market cap of $2,000.00, a PE ratio of 45.92 and a beta of 1.94.
In other Ferro news, insider James Barna sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Marran H. Ogilvie purchased 2,000 shares of the business’s stock in a transaction on Monday, November 13th. The stock was purchased 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. 2.02% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in 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 in the last quarter. Highlander Capital Management LLC raised its holdings in Ferro by 0.4% in the 2nd quarter. Highlander Capital Management LLC now owns 56,200 shares of the specialty chemicals company’s stock valued at $1,028,000 after acquiring an additional 200 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Ferro by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,370 shares of the specialty chemicals company’s stock valued at $1,178,000 after acquiring an additional 519 shares in the last quarter. Amalgamated Bank raised its holdings in Ferro by 5.5% in the 2nd quarter. Amalgamated Bank now owns 10,767 shares of the specialty chemicals company’s stock valued at $197,000 after acquiring an additional 564 shares in the last quarter. Finally, Cipher Capital LP raised its holdings in Ferro by 2.6% in the 3rd quarter. Cipher Capital LP now owns 100,712 shares of the specialty chemicals company’s stock valued at $2,246,000 after acquiring an additional 2,505 shares in the last quarter. 97.34% of the stock is owned by hedge funds and other institutional investors.
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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.
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