Ferro Corp. (FOE) Releases FY16 Earnings Guidance

Ferro Corp. (NYSE:FOE) updated its FY16 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.00-1.05 for the period, compared to the Thomson Reuters consensus estimate of $0.97.

A number of research firms recently commented on FOE. Deutsche Bank AG reaffirmed a buy rating on shares of Ferro Corp. in a research report on Tuesday, July 19th. Zacks Investment Research raised shares of Ferro Corp. from a hold rating to a buy rating and set a $16.00 price target on the stock in a research report on Tuesday, July 12th.

Shares of Ferro Corp. (NYSE:FOE) traded down 1.93% during midday trading on Wednesday, reaching $12.21. 677,615 shares of the company’s stock were exchanged. The company has a market cap of $1.02 billion and a P/E ratio of 24.92. Ferro Corp. has a 12 month low of $8.47 and a 12 month high of $15.57. The firm has a 50 day moving average price of $13.67 and a 200 day moving average price of $11.95.

Ferro Corp. (NYSE:FOE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.07. The firm had revenue of $297.97 million for the quarter, compared to analysts’ expectations of $304 million. During the same period in the prior year, the firm earned $0.20 earnings per share. Ferro Corp.’s revenue was up 11.1% compared to the same quarter last year. Equities research analysts forecast that Ferro Corp. will post $0.97 earnings per share for the current fiscal year.

Ferro Corporation (Ferro) produces performance materials for a range of manufacturers in diversified industries throughout the world. The Company uses inorganic and organic chemical processes, polymer science and materials science to develop and produce these performance materials. It operates, approximately 33 facilities around the world that manufacture performance materials and performance chemicals.