Ferro Co. (NYSE:FOE) – Research analysts at Seaport Global Securities cut their Q1 2018 earnings per share (EPS) estimates for shares of Ferro in a report released on Tuesday. Seaport Global Securities analyst M. Harrison now forecasts that the specialty chemicals company will earn $0.34 per share for the quarter, down from their previous estimate of $0.38. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Ferro’s Q2 2018 earnings at $0.44 EPS, Q4 2018 earnings at $0.39 EPS, FY2018 earnings at $1.57 EPS, Q1 2019 earnings at $0.41 EPS, Q2 2019 earnings at $0.49 EPS, Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.43 EPS and FY2019 earnings at $1.78 EPS.
Ferro (NYSE:FOE) last released its earnings results on Wednesday, February 28th. The specialty chemicals company reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The company had revenue of $377.54 million during the quarter, compared to analysts’ expectations of $336.94 million. Ferro had a return on equity of 33.58% and a net margin of 4.08%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.27 EPS.
A number of other research analysts have also recently commented on FOE. ValuEngine upgraded Ferro from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Northcoast Research restated a “buy” rating and issued a $28.00 target price on shares of Ferro in a research note on Tuesday. Zacks Investment Research upgraded Ferro from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Thursday, January 4th. Finally, KeyCorp restated an “overweight” rating on shares of Ferro in a research note on Friday, November 10th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $24.50.
Ferro (FOE) opened at $24.19 on Wednesday. The company has a market capitalization of $2,000.48, a P/E ratio of 35.57 and a beta of 1.76. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.32 and a quick ratio of 1.41. Ferro has a one year low of $13.56 and a one year high of $25.50.
In related news, insider James Barna sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $23.37, for a total transaction of $280,440.00. Following the completion of the transaction, the insider now owns 8,428 shares of the company’s stock, valued at approximately $196,962.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Mark Hugo Duesenberg sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $23.89, for a total value of $430,020.00. Following the transaction, the general counsel now directly owns 130,545 shares of the company’s stock, valued at approximately $3,118,720.05. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 143,246 shares of company stock valued at $3,396,897. 2.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of FOE. Glenmede Trust Co. NA bought a new position in Ferro during the 4th quarter valued at approximately $32,176,000. Paradice Investment Management LLC increased its position in Ferro by 46.4% during the 3rd quarter. Paradice Investment Management LLC now owns 3,318,174 shares of the specialty chemicals company’s stock valued at $43,667,000 after buying an additional 1,051,915 shares in the last quarter. Victory Capital Management Inc. increased its position in Ferro by 22.2% during the 4th quarter. Victory Capital Management Inc. now owns 3,130,687 shares of the specialty chemicals company’s stock valued at $73,854,000 after buying an additional 568,876 shares in the last quarter. Luminus Management LLC increased its position in Ferro by 73.3% during the 4th quarter. Luminus Management LLC now owns 479,202 shares of the specialty chemicals company’s stock valued at $11,304,000 after buying an additional 202,629 shares in the last quarter. Finally, King Luther Capital Management Corp bought a new position in Ferro during the 3rd quarter valued at approximately $3,028,000. 95.11% of the stock is owned by institutional investors.
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings (metal and ceramic coatings), Performance Colors and Glass (glass coatings), and Color Solutions. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel.