Ferro Co. (NYSE:FOE) Expected to Post Quarterly Sales of $389.17 Million

Wall Street analysts expect Ferro Co. (NYSE:FOE) to post $389.17 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ferro’s earnings, with the highest sales estimate coming in at $416.36 million and the lowest estimate coming in at $363.44 million. Ferro posted sales of $395.16 million in the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The firm is scheduled to issue its next earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Ferro will report full-year sales of $1.56 billion for the current financial year, with estimates ranging from $1.53 billion to $1.63 billion. For the next year, analysts anticipate that the company will post sales of $1.61 billion, with estimates ranging from $1.58 billion to $1.65 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Ferro.

Ferro (NYSE:FOE) last released its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.02. The firm had revenue of $393.90 million during the quarter, compared to analysts’ expectations of $415.39 million. Ferro had a return on equity of 27.77% and a net margin of 3.28%. Ferro’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share.

FOE has been the subject of several research analyst reports. ValuEngine cut Ferro from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 1st. TheStreet cut Ferro from a “b-” rating to a “c+” rating in a research report on Wednesday, May 29th. Zacks Investment Research upgraded Ferro from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. Finally, Buckingham Research cut Ferro from a “buy” rating to a “neutral” rating and dropped their price target for the company from $21.00 to $16.00 in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $19.37.

In other news, Director Allen A. Spizzo acquired 2,500 shares of Ferro stock in a transaction dated Thursday, May 9th. The shares were acquired at an average cost of $15.90 per share, with a total value of $39,750.00. Following the purchase, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $39,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter T. Thomas acquired 17,000 shares of Ferro stock in a transaction dated Thursday, May 9th. The stock was purchased at an average cost of $15.92 per share, for a total transaction of $270,640.00. Following the completion of the purchase, the chief executive officer now directly owns 677,956 shares in the company, valued at $10,793,059.52. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 24,500 shares of company stock valued at $387,490. Company insiders own 2.71% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chartwell Investment Partners LLC boosted its position in shares of Ferro by 0.6% during the first quarter. Chartwell Investment Partners LLC now owns 109,860 shares of the specialty chemicals company’s stock worth $2,080,000 after acquiring an additional 670 shares during the last quarter. White Pine Capital LLC boosted its position in shares of Ferro by 1.7% during the first quarter. White Pine Capital LLC now owns 44,035 shares of the specialty chemicals company’s stock worth $834,000 after acquiring an additional 750 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Ferro by 1.5% during the first quarter. Bank of Montreal Can now owns 78,527 shares of the specialty chemicals company’s stock worth $1,487,000 after acquiring an additional 1,165 shares during the last quarter. Campbell Newman Asset Management Inc. boosted its position in shares of Ferro by 7.0% during the second quarter. Campbell Newman Asset Management Inc. now owns 19,694 shares of the specialty chemicals company’s stock worth $311,000 after acquiring an additional 1,286 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Ferro by 3.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 39,370 shares of the specialty chemicals company’s stock worth $617,000 after acquiring an additional 1,351 shares during the last quarter. 98.24% of the stock is currently owned by institutional investors and hedge funds.

NYSE:FOE traded up $0.14 during trading hours on Friday, hitting $12.26. The company’s stock had a trading volume of 34,525 shares, compared to its average volume of 813,449. The company has a 50-day moving average price of $14.89. The firm has a market capitalization of $1.02 billion, a P/E ratio of 8.17, a PEG ratio of 1.10 and a beta of 1.92. The company has a debt-to-equity ratio of 2.25, a current ratio of 2.58 and a quick ratio of 1.49. Ferro has a 52-week low of $11.94 and a 52-week high of $23.88.

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.

Featured Story: What is the balance sheet?

Get a free copy of the Zacks research report on Ferro (FOE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ferro (NYSE:FOE)

Receive News & Ratings for Ferro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferro and related companies with MarketBeat.com's FREE daily email newsletter.