Ferro Corporation (NYSE:FOE) declared on Tuesday that it raised its first-quarter earnings outlook, quoting improved than anticipated results from its cost-cutting efforts.
The Cleveland-based specialty chemicals maker declared that it now predicts to declare an adjusted profit of 5 cents to 7 cents a share for the quarter ended March 31, increased from its previous anticipations of 2 cents to 5 cents a share. On average analysts predicts adjusted earnings of 4 cents per share, according to FactSet.
Ferro reported that based on present market conditions, combined with the anticipated timing of certain reducing cost moves, it still anticipates the Q1 to account for its lowest profit of 2013.
Ferro Corporation (NYSE:FOE) stock hit highest price at $6.86, beginning with a price of $6.86 and reported decreased -1.18% to the closed at $6.69 with day range of $6.68-$6.86. The total market capitalization remained $579.08 million, total volume held in the session was 724,278 shares surprisingly lower than its average volume of 1.49 million shares.
To check the Stocks ups and downs, FOE last week stock price volatility remained 1.59% and month was at 1.63%. FOE generated revenue of 1.77 billion in the following twelve months income of -$374.27 million. The Company showed a negative -21.09% in the net profit margin and in addition to in its operating margin which remained -14.41%. Company’s annual sales growth for the past five year was -3.81%.
The FOE past twelve months price to sales ratio was 0.33 and price to cash ratio remained 19.58. As far as if notice on other major contributors of similar sectors have sale ratio and price to cash ratio remained LyondellBasell Industries NV (NYSE:LYB)’s P/S 0.76% P/C 12.68%, Pacific Ethanol Inc (NASDAQ:PEIX)’s P/S 0.06% P/C 2.66%, Rockwood Holdings, Inc. (NYSE:ROC)’s P/S 1.37% P/C 3.77%, Olin Corporation (NYSE:OLN)’s P/S 0.92% P/C 12.16%.
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