Ferro Co. (NYSE:FOE) Expected to Announce Quarterly Sales of $379.33 Million

Analysts expect Ferro Co. (NYSE:FOE) to announce sales of $379.33 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Ferro’s earnings, with the lowest sales estimate coming in at $363.44 million and the highest estimate coming in at $387.70 million. Ferro posted sales of $395.16 million in the same quarter last year, which suggests a negative year over year growth rate of 4%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 14th.

On average, analysts expect that Ferro will report full year sales of $1.54 billion for the current financial year, with estimates ranging from $1.53 billion to $1.56 billion. For the next year, analysts forecast that the firm will post sales of $1.59 billion, with estimates ranging from $1.57 billion to $1.63 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Ferro.

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

Several research firms have recently weighed in on FOE. BMO Capital Markets reduced their price objective on Ferro to $15.00 and set a “market perform” rating for the company in a research note on Thursday, August 8th. Zacks Investment Research raised Ferro from a “sell” rating to a “hold” rating in a research note on Monday, July 29th. TheStreet lowered Ferro from a “b-” rating to a “c+” rating in a research note on Wednesday, May 29th. Buckingham Research reduced their price objective on Ferro from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, September 10th. Finally, ValuEngine lowered Ferro from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.80.

In other news, General Counsel Mark Hugo Duesenberg sold 35,000 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $10.69, for a total value of $374,150.00. Following the completion of the sale, the general counsel now owns 232,863 shares of the company’s stock, valued at $2,489,305.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Benjamin Schlater sold 7,500 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $12.23, for a total value of $91,725.00. Following the completion of the sale, the chief financial officer now directly owns 30,055 shares of the company’s stock, valued at approximately $367,572.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,500 shares of company stock valued at $525,600. 2.71% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. White Pine Capital LLC raised its holdings 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 in the last quarter. Jane Street Group LLC raised its holdings in shares of Ferro by 7.5% during the second quarter. Jane Street Group LLC now owns 14,349 shares of the specialty chemicals company’s stock worth $227,000 after acquiring an additional 1,001 shares in the last quarter. Bank of Montreal Can raised its holdings 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 in the last quarter. Campbell Newman Asset Management Inc. raised its holdings 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 in the last quarter. Finally, Quantamental Technologies LLC raised its holdings in shares of Ferro by 22.3% during the second quarter. Quantamental Technologies LLC now owns 8,500 shares of the specialty chemicals company’s stock worth $134,000 after acquiring an additional 1,550 shares in the last quarter. 99.73% of the stock is owned by institutional investors and hedge funds.

Shares of FOE traded down $0.09 during trading hours on Wednesday, hitting $11.90. 930,236 shares of the company were exchanged, compared to its average volume of 1,115,746. The company has a market capitalization of $1.02 billion, a PE ratio of 9.79, a PEG ratio of 1.09 and a beta of 2.01. The company has a debt-to-equity ratio of 2.25, a current ratio of 2.58 and a quick ratio of 1.49. The firm has a fifty day simple moving average of $11.36 and a 200-day simple moving average of $15.17. Ferro has a one year low of $9.73 and a one year 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.

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Earnings History and Estimates for Ferro (NYSE:FOE)

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