Ferro (FOE) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

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

NYSE:FOE traded up $0.50 during trading hours on Friday, reaching $18.50. 1,746,392 shares of the company’s stock were exchanged, compared to its average volume of 475,465. The stock has a market cap of $1.52 billion, a P/E ratio of 14.34, a P/E/G ratio of 0.73 and a beta of 1.70. The company has a debt-to-equity ratio of 2.12, a current ratio of 2.67 and a quick ratio of 1.56. Ferro has a 1-year low of $15.59 and a 1-year high of $25.50.

A number of large investors have recently modified their holdings of FOE. Victory Capital Management Inc. boosted 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 purchasing an additional 942,354 shares during the period. Luminus Management LLC boosted its stake 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 purchasing an additional 921,179 shares during the period. Massachusetts Financial Services Co. MA boosted its stake 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 purchasing an additional 655,644 shares during the period. BlackRock Inc. boosted its stake 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 purchasing an additional 428,281 shares during the period. Finally, FMR LLC boosted its stake 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 purchasing an additional 347,555 shares during the period. Hedge funds and other institutional investors own 96.35% of the company’s stock.

FOE has been the subject of several research analyst reports. ValuEngine upgraded shares of Ferro from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Zacks Investment Research upgraded shares of Ferro from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Finally, Gabelli reiterated a “buy” rating on shares of Ferro in a research note on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target 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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Earnings History for Ferro (NYSE:FOE)

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