Wall Street analysts expect FORTERRA INC (NASDAQ:FRTA) to post $446.56 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for FORTERRA INC’s earnings. The highest sales estimate is $463.20 million and the lowest is $430.00 million. The company is scheduled to announce its next quarterly earnings results on Monday, August 21st.

On average, analysts expect that FORTERRA INC will report full year sales of $446.56 million for the current financial year, with estimates ranging from $1.65 billion to $1.71 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.77 billion per share, with estimates ranging from $1.73 billion to $1.81 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover FORTERRA INC.

FORTERRA INC (NASDAQ:FRTA) last issued its quarterly earnings results on Monday, May 15th. The construction company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.24. The company had revenue of $338.30 million for the quarter, compared to analyst estimates of $340.24 million.

A number of brokerages recently issued reports on FRTA. Citigroup Inc. cut shares of FORTERRA INC from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $23.00 to $17.00 in a report on Tuesday, May 16th. SunTrust Banks, Inc. cut shares of FORTERRA INC from a “buy” rating to a “hold” rating and set a $14.00 price objective for the company. in a report on Tuesday, May 16th. Royal Bank Of Canada cut shares of FORTERRA INC from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $23.00 to $16.00 in a report on Tuesday, May 16th. Zacks Investment Research cut shares of FORTERRA INC from a “hold” rating to a “sell” rating in a report on Thursday, May 18th. Finally, Barclays PLC restated an “overweight” rating and set a $18.00 price objective (down previously from $23.00) on shares of FORTERRA INC in a report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $17.61.

WARNING: “Zacks: Brokerages Anticipate FORTERRA INC (FRTA) Will Post Quarterly Sales of $446.56 Million” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/07/09/zacks-brokerages-anticipate-forterra-inc-frta-will-post-quarterly-sales-of-446-56-million.html.

Shares of FORTERRA INC (FRTA) opened at 8.08 on Friday. The company has a 50 day moving average of $8.77 and a 200 day moving average of $16.65. FORTERRA INC has a 12 month low of $6.01 and a 12 month high of $22.76. The stock’s market cap is $518.24 million.

A number of hedge funds and other institutional investors have recently modified their holdings of FRTA. 1st Global Advisors Inc. boosted its position in FORTERRA INC by 4.2% in the first quarter. 1st Global Advisors Inc. now owns 14,003 shares of the construction company’s stock valued at $273,000 after buying an additional 565 shares during the period. Schwab Charles Investment Management Inc. boosted its position in FORTERRA INC by 5.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 67,654 shares of the construction company’s stock valued at $1,320,000 after buying an additional 3,762 shares during the period. Ladenburg Thalmann Financial Services Inc. bought a new position in FORTERRA INC during the fourth quarter valued at $109,000. United Capital Financial Advisers LLC boosted its position in FORTERRA INC by 3.9% in the first quarter. United Capital Financial Advisers LLC now owns 146,367 shares of the construction company’s stock valued at $2,854,000 after buying an additional 5,456 shares during the period. Finally, Manchester Capital Management LLC bought a new position in FORTERRA INC during the first quarter valued at $133,000. Hedge funds and other institutional investors own 99.76% of the company’s stock.

About FORTERRA INC

Get a free copy of the Zacks research report on FORTERRA INC (FRTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for FORTERRA INC (NASDAQ:FRTA)

Receive News & Ratings for FORTERRA INC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FORTERRA INC and related companies with MarketBeat.com's FREE daily email newsletter.