Zacks: Brokerages Expect Ferro Co. (FOE) Will Announce Quarterly Sales of $394.37 Million

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Brokerages expect Ferro Co. (NYSE:FOE) to report sales of $394.37 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Ferro’s earnings. The highest sales estimate is $398.59 million and the lowest is $391.32 million. Ferro reported sales of $377.54 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The business is expected to report its next quarterly earnings report on Wednesday, February 27th.

On average, analysts expect that Ferro will report full-year sales of $1.61 billion for the current fiscal year, with estimates ranging from $1.60 billion to $1.62 billion. For the next year, analysts anticipate that the company will report sales of $1.66 billion, with estimates ranging from $1.65 billion to $1.67 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Ferro.

Ferro (NYSE:FOE) last announced its quarterly earnings data on Thursday, November 8th. The specialty chemicals company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.03). The firm had revenue of $395.16 million for the quarter, compared to analysts’ expectations of $400.74 million. Ferro had a net margin of 3.79% and a return on equity of 32.74%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS.

Several equities analysts have commented on FOE shares. Deutsche Bank lowered their price objective on Ferro from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th. Buckingham Research started coverage on Ferro in a research report on Friday, January 4th. They set a “buy” rating and a $20.00 price objective for the company. Zacks Investment Research lowered Ferro from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 21st. Finally, ValuEngine raised Ferro from a “strong sell” rating to a “sell” rating in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Ferro currently has an average rating of “Buy” and a consensus price target of $23.60.

In other news, CFO Benjamin Schlater sold 5,426 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $19.53, for a total transaction of $105,969.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Barna sold 7,500 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $19.08, for a total value of $143,100.00. The disclosure for this sale can be found here. 2.26% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Prudential Financial Inc. increased its holdings in shares of Ferro by 8.1% during the fourth quarter. Prudential Financial Inc. now owns 10,480 shares of the specialty chemicals company’s stock valued at $164,000 after acquiring an additional 785 shares in the last quarter. Wakefield Asset Management LLLP bought a new position in shares of Ferro during the third quarter valued at $248,000. Jefferies Group LLC increased its holdings in shares of Ferro by 212.8% during the third quarter. Jefferies Group LLC now owns 11,277 shares of the specialty chemicals company’s stock valued at $262,000 after acquiring an additional 21,277 shares in the last quarter. First Hawaiian Bank bought a new position in shares of Ferro during the third quarter valued at $276,000. Finally, Brown Advisory Inc. bought a new position in shares of Ferro during the third quarter valued at $278,000. Hedge funds and other institutional investors own 98.80% of the company’s stock.

Ferro stock traded down $0.39 on Friday, hitting $16.50. 468,000 shares of the stock traded hands, compared to its average volume of 586,296. The company has a current ratio of 2.85, a quick ratio of 1.76 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $1.39 billion, a P/E ratio of 12.79, a P/E/G ratio of 0.76 and a beta of 1.74. Ferro has a 1 year low of $14.59 and a 1 year high of $24.79.

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 and Estimates for Ferro (NYSE:FOE)

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