Ferro Co. (NYSE:FOE) – Northcoast Research lowered their FY2019 earnings estimates for Ferro in a note issued to investors on Tuesday, January 22nd. Northcoast Research analyst K. Hocevar now forecasts that the specialty chemicals company will post earnings per share of $1.70 for the year, down from their prior estimate of $1.90.

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

Other research analysts have also issued research reports about the stock. Deutsche Bank lowered their target price on shares of Ferro from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, November 20th. Buckingham Research started coverage on shares of Ferro in a research note on Friday, January 4th. They set a “buy” rating and a $20.00 target price for the company. Zacks Investment Research lowered shares of Ferro from a “strong-buy” rating to a “hold” rating in a research note on Monday. Finally, ValuEngine lowered shares of Ferro from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Ferro currently has an average rating of “Buy” and an average price target of $23.60.

Shares of FOE stock opened at $16.28 on Thursday. The company has a quick ratio of 1.76, a current ratio of 2.85 and a debt-to-equity ratio of 2.38. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 12.62, a P/E/G ratio of 0.57 and a beta of 1.79. Ferro has a 1-year low of $14.59 and a 1-year high of $24.88.

In other news, insider James Barna sold 7,500 shares of the stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $19.08, for a total transaction of $143,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Benjamin Schlater sold 5,426 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $19.53, for a total transaction of $105,969.78. The disclosure for this sale can be found here. 2.26% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of FOE. BlackRock Inc. lifted its position in shares of Ferro by 8.1% during the second quarter. BlackRock Inc. now owns 5,724,384 shares of the specialty chemicals company’s stock worth $119,353,000 after purchasing an additional 428,281 shares in the last quarter. FMR LLC lifted its position in shares of Ferro by 10.0% during the second quarter. FMR LLC now owns 1,775,065 shares of the specialty chemicals company’s stock worth $37,010,000 after purchasing an additional 160,639 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in shares of Ferro by 7.6% during the second quarter. MetLife Investment Advisors LLC now owns 38,898 shares of the specialty chemicals company’s stock worth $811,000 after purchasing an additional 2,753 shares in the last quarter. Northern Trust Corp lifted its position in shares of Ferro by 2.4% during the second 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 in the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Ferro by 24.5% during the third 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 in the last quarter. 98.48% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Bollinger Bands

Earnings History and Estimates for Ferro (NYSE:FOE)

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