Ferro Corporation (NYSE:FOE) – Equities research analysts at Gabelli increased their FY2019 earnings per share (EPS) estimates for Ferro Corporation in a research report issued to clients and investors on Monday. Gabelli analyst R. Morbelli now forecasts that the specialty chemicals company will earn $1.65 per share for the year, up from their prior forecast of $1.60. Gabelli also issued estimates for Ferro Corporation’s FY2020 earnings at $1.85 EPS.

Other research analysts have also issued reports about the company. BidaskClub raised Ferro Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised Ferro Corporation from a “sell” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Monday, July 31st. Deutsche Bank AG reissued a “buy” rating and issued a $22.00 price target (up from $20.00) on shares of Ferro Corporation in a research report on Monday, July 31st. KeyCorp reissued a “buy” rating and issued a $23.00 price target on shares of Ferro Corporation in a research report on Friday, September 1st. Finally, Longbow Research reissued a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of Ferro Corporation in a research report on Wednesday, August 23rd. Six investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $23.60.

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Ferro Corporation (FOE) traded down $0.19 on Tuesday, hitting $23.63. The stock had a trading volume of 452,200 shares, compared to its average volume of 516,006. The company has a market cap of $1,997.48, a price-to-earnings ratio of 18.61 and a beta of 1.90. The company has a current ratio of 2.48, a quick ratio of 1.53 and a debt-to-equity ratio of 1.94. Ferro Corporation has a 52-week low of $13.55 and a 52-week high of $24.84.

Ferro Corporation (NYSE:FOE) last released its quarterly earnings results on Wednesday, November 1st. The specialty chemicals company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.02. The firm had revenue of $350.01 million during the quarter, compared to analyst estimates of $332.28 million. Ferro Corporation had a return on equity of 35.77% and a net margin of 3.44%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.27 EPS.

Hedge funds have recently made changes to their positions in the stock. Mutual of America Capital Management LLC grew its stake in Ferro Corporation by 5.2% during the 2nd quarter. Mutual of America Capital Management LLC now owns 553,847 shares of the specialty chemicals company’s stock worth $10,130,000 after buying an additional 27,340 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Ferro Corporation by 3,040.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 91,148 shares of the specialty chemicals company’s stock valued at $1,667,000 after purchasing an additional 88,246 shares during the last quarter. Kennedy Capital Management Inc. grew its stake in Ferro Corporation by 15.1% during the 2nd quarter. Kennedy Capital Management Inc. now owns 1,348,104 shares of the specialty chemicals company’s stock valued at $24,657,000 after purchasing an additional 176,443 shares during the last quarter. Paradice Investment Management LLC grew its stake in Ferro Corporation by 124.5% during the 2nd quarter. Paradice Investment Management LLC now owns 2,266,259 shares of the specialty chemicals company’s stock valued at $27,082,000 after purchasing an additional 1,256,703 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Ferro Corporation by 14.4% during the 2nd quarter. Royal Bank of Canada now owns 1,094,643 shares of the specialty chemicals company’s stock valued at $20,021,000 after purchasing an additional 138,061 shares during the last quarter. Hedge funds and other institutional investors own 97.57% of the company’s stock.

In related news, Director Ronald P. Vargo sold 12,000 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $24.13, for a total transaction of $289,560.00. Following the transaction, the director now directly owns 43,450 shares in the company, valued at approximately $1,048,448.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.02% of the stock is owned by insiders.

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.

Earnings History and Estimates for Ferro Corporation (NYSE:FOE)

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