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Last $12.64 USD
Change Today -0.24 / -1.86%
Volume 355.9K
FOE On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

ferro corp (FOE) Snapshot

Open
$12.74
Previous Close
$12.88
Day High
$12.89
Day Low
$12.64
52 Week High
09/24/14 - $15.14
52 Week Low
01/30/15 - $11.11
Market Cap
1.1B
Average Volume 10 Days
392.7K
EPS TTM
$0.40
Shares Outstanding
87.2M
EX-Date
05/6/09
P/E TM
31.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for FERRO CORP (FOE)

ferro corp (FOE) Related Businessweek News

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ferro corp (FOE) Details

Ferro Corporation, together with its subsidiaries, 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 Pigments, Powders and Oxides. The company’s products include frits, porcelain and other glass enamels, glazes, stains, decorating colors, pigments, inks, polishing materials, specialty dielectrics, electronic glasses, and other specialty coatings. Its products are used in appliances, automobiles, building and renovation, electronics, household furnishings, industrial products, and packaging. The company markets and sells its products to manufacturers of ceramic tile, appliances, construction materials, automobile parts, glass, bottles, and wall coverings directly, as well as through indirect sales channels, such as agents and distributors. Ferro Corporation was founded in 1919 and is headquartered in Mayfield Heights, Ohio.

3,979 Employees
Last Reported Date: 02/25/15
Founded in 1919

ferro corp (FOE) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $865.0K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $470.0K
Vice President, General Counsel and Secretary
Total Annual Compensation: $388.3K
Vice President of Human Resources
Total Annual Compensation: $367.7K
Compensation as of Fiscal Year 2014.

ferro corp (FOE) Key Developments

Ferro Corporation Seeks Acquisitions

Ferro Corporation (NYSE:FOE) is seeking acquisitions. Jeffrey Rutherford, Vice President and Chief Financial Officer of Ferro, said "There are certain items that we're going to have related to continued cost reductions. And, again, it's the continuation of what we have been doing relative to back office, shared service facilities, and so forth and we have that built in. But there is going to be some investment in other costs, in acquisitions."

Ferro Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of Fiscal 2015

Ferro Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company announced net sales of $260,928,000 compared to $275,835,000 for the same period a year ago. Loss before income taxes was $76,529,000 compared to income before income taxes of $67,830,000 for the same period a year ago. Loss from continuing operations was $29,954,000 or $0.35 per basic and diluted share compared to income from continuing operations of $57,103,000 or $0.65 per diluted share for the same period a year ago. Net income was $11,554,000 compared to $60,863,000 for the same period a year ago. Net income attributable to the company common shareholders was $11,443,000 or $0.13 per basic and diluted share compared to $60,537,000 or $0.69 per diluted share for the same period a year ago. Net cash provided by operating activities was $18,573,000 compared to $15,461,000 for the same period a year ago. Capital expenditures for property, plant and equipment and other long lived assets was $12,772,000 compared to $13,033,000 for the same period a year ago. Adjusted net income attributable to the company was $11,627,000 or $0.13 per diluted share compared to $5,464,000 or $0.06 per diluted share for the same period a year ago. Adjusted EBITDA was $28,171,000 compared to $22,299,000 for the same period a year ago. For the full year, the company announced net sales of $1,111,626,000 compared to $1,188,582,000 for the same period a year ago. Loss before income taxes was $42,836,000 compared to income before income taxes of $78,190,000 for the same period a year ago. Loss from continuing operations was $8,609,000 or $0.10 per basic and diluted share compared to income from continuing operations of $63,905,000 or $0.72 per diluted share for the same period a year ago. Net income was $86,231,000 compared to $72,445,000 for the same period a year ago. Net income attributable to the company common shareholders was $86,071,000 or $0.99 per basic and diluted share compared to $71,942,000 or $0.82 per diluted share for the same period a year ago. Net cash provided by operating activities was $60,473,000 compared to $18,464,000 for the same period a year ago. Capital expenditures for property, plant and equipment and other long lived assets was $53,768,000 compared to $34,220,000 for the same period a year ago. Adjusted net income attributable to the company was $54,238,000 or $0.62 per diluted share compared to $29,314,000 or $0.33 per diluted share for the same period a year ago. Adjusted EBITDA was $132,562,000 compared to $100,574,000 for the same period a year ago. The company attributed the increase in profitability for the year primarily to increased sales and gross profit in the Performance Colors and Glass segment, coupled with reduced selling, general and administrative (SG&A) expenses. The company announced that cash balances increased by $112 million to $141 million, resulting in a reduction in net debt of $112 million. The company provided earnings guidance for the full year of fiscal 2015. The company expects adjusted earnings for 2015 to be in the range of $0.85 to $0.90 per diluted share. This guidance includes a negative earnings impact of $0.12 - $0.14 associated with expected changes in foreign currency rates. Value-added sales are expected to increase by 2% - 3%, including a projected 8% negative impact from changes in foreign currency exchange rates. Holding 2015 budgeted foreign exchange rates constant at 2014 levels, value-added sales growth would be 10% - 11%. Gross profit, as a percent of value-added sales, is expected to be in the range of 29.0% - 29.5%, and operating profit is expected to be in the range of 11.5% - 12.0% of value-added sales. The increase in operating profit coupled with a lower effective tax rate of 29% and lower interest expense, resulting from Ferros August 2014 refinancing, is expected to drive increased adjusted earnings per share from continuing operations and result in free cash flow of approximately $50 million. The company continues to target an annualized return on invested capital of 15%, which it expects to achieve in the 2015 - 2016 time frame.

Ferro Seeks Business Opportunities

Ferro Corporation (NYSE:FOE) is pursuing additional business opportunities to strengthen its position in glass-based coatings and to expand its presence as a leading provider of color solutions for industrial applications.

 

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Industry Analysis

FOE

Industry Average

Valuation FOE Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.0x
Price/Book 3.4x
Price/Cash Flow 12.8x
TEV/Sales 0.6x
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