Analysts forecast that Ferro Co. (NYSE:FOE) will announce $399.81 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ferro’s earnings, with the lowest sales estimate coming in at $394.58 million and the highest estimate coming in at $409.16 million. Ferro posted sales of $350.01 million in the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The firm is expected to issue its next earnings results on Wednesday, November 7th.

On average, analysts expect that Ferro will report full-year sales of $1.63 billion for the current financial year, with estimates ranging from $1.61 billion to $1.64 billion. For the next financial year, analysts anticipate that the business will post sales of $1.70 billion, with estimates ranging from $1.66 billion to $1.75 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Ferro.

Ferro (NYSE:FOE) last issued its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $416.20 million during the quarter, compared to the consensus estimate of $418.06 million. Ferro had a net margin of 4.34% and a return on equity of 32.63%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.37 earnings per share.

A number of research analysts have weighed in on FOE shares. Zacks Investment Research downgraded shares of Ferro from a “buy” rating to a “hold” rating in a research report on Monday, August 20th. ValuEngine downgraded shares of Ferro from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Gabelli reiterated a “buy” rating on shares of Ferro in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $27.00.

In related news, General Counsel Mark Hugo Duesenberg sold 11,000 shares of the company’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $22.49, for a total transaction of $247,390.00. Following the completion of the transaction, the general counsel now owns 179,631 shares in the company, valued at approximately $4,039,901.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.26% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in shares of Ferro by 24.5% during the 3rd quarter. Bank of Montreal Can now owns 83,849 shares of the specialty chemicals company’s stock worth $1,947,000 after purchasing an additional 16,514 shares during the last quarter. Northern Trust Corp raised its position in shares of Ferro by 2.4% during the 2nd quarter. Northern Trust Corp now owns 1,114,729 shares of the specialty chemicals company’s stock worth $23,242,000 after purchasing an additional 26,246 shares during the last quarter. Moody Aldrich Partners LLC raised its position in shares of Ferro by 74.9% during the 2nd quarter. Moody Aldrich Partners LLC now owns 117,420 shares of the specialty chemicals company’s stock worth $2,448,000 after purchasing an additional 50,267 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of Ferro by 19.4% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,629,296 shares of the specialty chemicals company’s stock worth $33,970,000 after purchasing an additional 265,202 shares during the last quarter. Finally, Putnam Investments LLC raised its position in shares of Ferro by 125.3% during the 2nd quarter. Putnam Investments LLC now owns 329,635 shares of the specialty chemicals company’s stock worth $6,873,000 after purchasing an additional 183,345 shares during the last quarter. Hedge funds and other institutional investors own 96.31% of the company’s stock.

Shares of Ferro stock traded down $0.74 during trading hours on Monday, reaching $18.60. The stock had a trading volume of 1,884,851 shares, compared to its average volume of 420,944. The company has a market cap of $1.95 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 0.94 and a beta of 1.70. Ferro has a twelve month low of $18.55 and a twelve month high of $25.50. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.56 and a current ratio of 2.67.

About Ferro

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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