Ferro (FOE) Announces Earnings Results

Ferro (NYSE:FOE) posted its quarterly earnings results on Thursday. The specialty chemicals company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03), Briefing.com reports. The company had revenue of $395.16 million for the quarter, compared to analysts’ expectations of $400.74 million. Ferro had a return on equity of 32.63% and a net margin of 4.34%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. Ferro updated its FY18 guidance to $1.55 to $1.60 EPS.

Shares of Ferro stock traded up $0.50 during trading hours on Friday, hitting $18.50. The company’s stock had a trading volume of 1,746,392 shares, compared to its average volume of 1,010,593. Ferro has a 1-year low of $15.59 and a 1-year high of $25.50. The firm has a market capitalization of $1.58 billion, a P/E ratio of 14.34, a PEG ratio of 0.76 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.

FOE has been the topic of a number of recent analyst reports. ValuEngine raised shares of Ferro from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. Zacks Investment Research raised shares of Ferro from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, Gabelli reaffirmed 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 assigned a buy rating to the stock. Ferro presently has a consensus rating of “Buy” and a consensus target price of $27.00.

Several institutional investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC increased its position in shares of Ferro by 7.6% in the second quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock worth $811,000 after acquiring an additional 2,753 shares in the last quarter. Rhumbline Advisers increased its position in shares of Ferro by 4.0% in the second quarter. Rhumbline Advisers now owns 81,371 shares of the specialty chemicals company’s stock worth $1,697,000 after acquiring an additional 3,134 shares in the last quarter. Sei Investments Co. increased its position in shares of Ferro by 4.6% in the second quarter. Sei Investments Co. now owns 77,436 shares of the specialty chemicals company’s stock worth $1,615,000 after acquiring an additional 3,423 shares in the last quarter. Essex Investment Management Co. LLC increased its position in shares of Ferro by 4.4% in the third quarter. Essex Investment Management Co. LLC now owns 94,842 shares of the specialty chemicals company’s stock worth $2,202,000 after acquiring an additional 4,021 shares in the last quarter. Finally, Affinity Investment Advisors LLC increased its position in shares of Ferro by 26.3% in the third quarter. Affinity Investment Advisors LLC now owns 20,859 shares of the specialty chemicals company’s stock worth $484,000 after acquiring an additional 4,339 shares in the last quarter. 96.35% of the stock is owned by institutional investors.

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About Ferro

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.

Further Reading: When is a capital gain realized?

Earnings History for Ferro (NYSE:FOE)

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