Ferro (FOE) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Ferro (NYSE:FOE) announced its quarterly earnings results on Wednesday. The specialty chemicals company reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.03, Bloomberg Earnings reports. Ferro had a net margin of 3.79% and a return on equity of 32.74%. The company had revenue of $395.50 million for the quarter, compared to analyst estimates of $389.36 million. During the same quarter in the prior year, the business posted $0.29 EPS. Ferro’s quarterly revenue was up 4.8% on a year-over-year basis. Ferro updated its FY19 guidance to $1.55-1.65 EPS.

NYSE:FOE opened at $19.87 on Friday. Ferro has a 1 year low of $14.59 and a 1 year high of $24.79. The company has a current ratio of 2.85, a quick ratio of 1.76 and a debt-to-equity ratio of 2.38. The firm has a market capitalization of $1.49 billion, a P/E ratio of 15.40, a PEG ratio of 0.82 and a beta of 1.74.

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FOE has been the topic of several analyst reports. ValuEngine upgraded shares of Ferro from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. Deutsche Bank dropped their price target on shares of Ferro from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th. Zacks Investment Research upgraded shares of Ferro from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Friday, January 4th. Finally, Buckingham Research initiated coverage on shares of Ferro in a research note on Friday, January 4th. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $23.60.

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About Ferro

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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