Northcoast Research Weighs in on Ferro Co.’s Q4 2018 Earnings (FOE)
Ferro Co. (NYSE:FOE) – Investment analysts at Northcoast Research lowered their Q4 2018 EPS estimates for shares of Ferro in a research note issued on Monday, November 12th. Northcoast Research analyst K. Hocevar now forecasts that the specialty chemicals company will earn $0.38 per share for the quarter, down from their prior forecast of $0.40.
FOE has been the topic of a number of other research reports. Gabelli reaffirmed a “buy” rating on shares of Ferro in a research note on Friday, July 27th. Zacks Investment Research raised shares of Ferro from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Tuesday, August 14th. Finally, ValuEngine lowered shares of Ferro from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $27.00.
Ferro (NYSE:FOE) last issued its quarterly earnings data on Thursday, November 8th. The specialty chemicals company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.03). The firm had revenue of $395.16 million for the quarter, compared to analyst estimates of $400.74 million. Ferro had a net margin of 3.79% and a return on equity of 32.74%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the business. Wakefield Asset Management LLLP bought a new position in Ferro in the third quarter valued at approximately $248,000. Jefferies Group LLC lifted its stake in Ferro by 212.8% in the third quarter. Jefferies Group LLC now owns 11,277 shares of the specialty chemicals company’s stock valued at $262,000 after buying an additional 21,277 shares in the last quarter. First Hawaiian Bank bought a new position in Ferro in the third quarter valued at approximately $276,000. Brown Advisory Inc. bought a new position in Ferro in the third quarter valued at approximately $278,000. Finally, Sheets Smith Wealth Management bought a new position in Ferro in the second quarter valued at approximately $287,000. 96.84% of the stock is currently owned by hedge funds and other institutional investors.
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.
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