Analysts Expect Ferro Co. (NYSE:FOE) Will Announce Quarterly Sales of $281.78 Million

Equities analysts expect Ferro Co. (NYSE:FOE) to report $281.78 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ferro’s earnings, with the lowest sales estimate coming in at $279.07 million and the highest estimate coming in at $284.48 million. Ferro reported sales of $241.88 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.5%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, November 3rd.

On average, analysts expect that Ferro will report full year sales of $1.15 billion for the current financial year, with estimates ranging from $1.14 billion to $1.15 billion. For the next year, analysts expect that the business will report sales of $1.19 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Ferro.

Ferro (NYSE:FOE) last released its quarterly earnings data on Wednesday, August 4th. The specialty chemicals company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.27 by $0.08. Ferro had a return on equity of 21.14% and a net margin of 14.36%. The company had revenue of $294.33 million for the quarter, compared to the consensus estimate of $263.30 million. During the same period last year, the business posted $0.12 EPS. Ferro’s quarterly revenue was up 43.7% on a year-over-year basis.

Separately, Zacks Investment Research cut Ferro from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 13th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, Ferro presently has an average rating of “Hold” and an average target price of $22.33.

Several hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Ferro during the 1st quarter worth approximately $1,433,000. Bank of New York Mellon Corp lifted its holdings in Ferro by 56.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,276,708 shares of the specialty chemicals company’s stock worth $21,524,000 after buying an additional 460,174 shares in the last quarter. Tibra Equities Europe Ltd acquired a new position in Ferro in the 2nd quarter worth $8,834,000. Wilen Investment Management CORP. raised its stake in shares of Ferro by 2.8% in the 2nd quarter. Wilen Investment Management CORP. now owns 113,596 shares of the specialty chemicals company’s stock valued at $2,386,000 after purchasing an additional 3,113 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of Ferro by 12.7% in the 1st quarter. Captrust Financial Advisors now owns 17,968 shares of the specialty chemicals company’s stock valued at $303,000 after purchasing an additional 2,023 shares in the last quarter.

Shares of FOE stock traded up $0.03 on Friday, hitting $21.01. The company had a trading volume of 6,677 shares, compared to its average volume of 646,956. The firm has a market cap of $1.74 billion, a P/E ratio of 11.22 and a beta of 1.55. The company has a 50-day moving average price of $20.59 and a 200-day moving average price of $20.29. The company has a quick ratio of 1.21, a current ratio of 2.01 and a debt-to-equity ratio of 0.69. Ferro has a twelve month low of $12.49 and a twelve month high of $22.00.

Ferro Company Profile

Ferro Corp. engages in the business of manufacturing specialty materials. Its products include frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, dielectrics, electronic glasses and other specialty coatings. The company was founded by Harry D.

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Earnings History and Estimates for Ferro (NYSE:FOE)

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