Ferro (NYSE:FOE) Issues FY19 Earnings Guidance

Ferro (NYSE:FOE) issued an update on its FY19 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.15-1.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.17.

Shares of Ferro stock traded up $1.45 during trading hours on Tuesday, reaching $14.04. 11,226 shares of the company’s stock were exchanged, compared to its average volume of 564,939. The company has a 50 day moving average of $11.52 and a two-hundred day moving average of $13.37. Ferro has a fifty-two week low of $9.73 and a fifty-two week high of $21.28. The company has a current ratio of 2.58, a quick ratio of 1.49 and a debt-to-equity ratio of 2.25. The stock has a market cap of $1.03 billion, a P/E ratio of 9.25, a P/E/G ratio of 1.13 and a beta of 2.08.

FOE has been the subject of a number of recent research reports. Buckingham Research reduced their price objective on shares of Ferro from $16.00 to $12.00 and set a neutral rating for the company in a research note on Tuesday, September 10th. BMO Capital Markets reduced their price objective on shares of Ferro to $15.00 and set a market perform rating for the company in a research note on Thursday, August 8th. ValuEngine downgraded shares of Ferro from a hold rating to a sell rating in a research note on Friday, November 1st. Zacks Investment Research upgraded shares of Ferro from a sell rating to a hold rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Co started coverage on shares of Ferro in a research note on Tuesday, October 15th. They set a market perform rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $16.83.

In other news, CFO Benjamin Schlater sold 2,500 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $11.53, for a total value of $28,825.00. Following the sale, the chief financial officer now directly owns 22,555 shares of the company’s stock, valued at approximately $260,059.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Mark Hugo Duesenberg sold 35,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $10.69, for a total transaction of $374,150.00. Following the completion of the sale, the general counsel now directly owns 232,863 shares in the company, valued at $2,489,305.47. The disclosure for this sale can be found here. 2.71% of the stock is currently owned by corporate insiders.

Ferro Company Profile

Ferro Corporation produces specialty materials in the United States and internationally. It operates through three segments: Performance Coatings, 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 and Estimates for Ferro (NYSE:FOE)

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