Ferro Corporation (NYSE:FOE) – Research analysts at KeyCorp boosted their Q3 2017 earnings estimates for shares of Ferro Corporation in a report released on Tuesday. KeyCorp analyst M. Sison now anticipates that the specialty chemicals company will post earnings of $0.29 per share for the quarter, up from their prior estimate of $0.28. KeyCorp has a “Outperform” rating and a $18.00 price objective on the stock. KeyCorp also issued estimates for Ferro Corporation’s Q4 2017 earnings at $0.27 EPS.
Ferro Corporation (NYSE:FOE) last posted its earnings results on Tuesday, April 25th. The specialty chemicals company reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The firm had revenue of $320.56 million for the quarter, compared to the consensus estimate of $300.58 million. Ferro Corporation had a net margin of 0.93% and a return on equity of 34.31%. The business’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share.
Other equities research analysts have also recently issued reports about the stock. TheStreet cut shares of Ferro Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, March 29th. BidaskClub cut shares of Ferro Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Longbow Research raised shares of Ferro Corporation from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Monday, June 5th. Zacks Investment Research raised shares of Ferro Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, March 2nd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $19.00 price objective (up from $16.00) on shares of Ferro Corporation in a research report on Monday, May 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $19.80.
Ferro Corporation (FOE) opened at 17.77 on Thursday. The firm has a market capitalization of $1.49 billion, a P/E ratio of 136.69 and a beta of 2.00. The firm’s 50-day moving average is $17.67 and its 200 day moving average is $15.50. Ferro Corporation has a 52-week low of $11.76 and a 52-week high of $19.37.
Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new stake in Ferro Corporation during the first quarter valued at approximately $109,000. Envestnet Asset Management Inc. boosted its stake in Ferro Corporation by 347.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,085 shares of the specialty chemicals company’s stock valued at $173,000 after buying an additional 9,382 shares in the last quarter. KCG Holdings Inc. bought a new stake in Ferro Corporation during the first quarter valued at approximately $181,000. Teza Capital Management LLC bought a new stake in Ferro Corporation during the first quarter valued at approximately $182,000. Finally, Nine Chapters Capital Management LLC bought a new stake in Ferro Corporation during the first quarter valued at approximately $204,000. 95.83% of the stock is currently owned by institutional investors and hedge funds.
About Ferro Corporation
Ferro Corporation (Ferro) produces specialty materials that are sold to a range of manufacturers. The Company’s segments include Performance Coatings; Performance Colors and Glass, and Pigments, Powders and Oxides. Its Performance Coatings segment includes Tile Coating Systems and Porcelain Enamel. Its manufacturers make products for various end-use markets.
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