Ferrari N.V. (RACE) Expected to Post Earnings of $0.72 Per Share
Wall Street analysts predict that Ferrari N.V. (NYSE:RACE) will post $0.72 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Ferrari N.V.’s earnings. Ferrari N.V. posted earnings per share of $0.66 during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The business is expected to report its next earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Ferrari N.V. will report full year earnings of $3.08 per share for the current financial year, with EPS estimates ranging from $2.91 to $3.24. For the next financial year, analysts expect that the company will report earnings of $3.49 per share, with EPS estimates ranging from $3.26 to $3.71. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Ferrari N.V..
Ferrari N.V. (NYSE:RACE) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.13. The business had revenue of $1.01 billion for the quarter. Ferrari N.V. had a net margin of 14.43% and a return on equity of 128.49%.
Several equities analysts have recently weighed in on RACE shares. UBS AG reaffirmed a “buy” rating and issued a $100.00 price objective (up from $92.00) on shares of Ferrari N.V. in a research note on Tuesday, July 11th. Zacks Investment Research lowered Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Berenberg Bank reissued a “buy” rating on shares of Ferrari N.V. in a research report on Monday, August 14th. Evercore ISI boosted their price target on Ferrari N.V. from $46.00 to $105.00 and gave the stock an “in-line” rating in a research report on Friday, September 1st. Finally, Morgan Stanley lowered Ferrari N.V. from an “overweight” rating to an “underweight” rating and set a $100.00 price target on the stock. in a research report on Thursday, September 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $109.86.
A number of institutional investors have recently added to or reduced their stakes in RACE. Victory Capital Management Inc. acquired a new position in Ferrari N.V. during the 1st quarter worth approximately $127,000. Aviance Capital Management LLC acquired a new position in Ferrari N.V. during the 2nd quarter worth approximately $130,000. PNC Financial Services Group Inc. lifted its position in Ferrari N.V. by 48.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,798 shares of the company’s stock worth $135,000 after acquiring an additional 586 shares in the last quarter. Quadrant Capital Group LLC lifted its position in Ferrari N.V. by 1.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,976 shares of the company’s stock worth $162,000 after acquiring an additional 24 shares in the last quarter. Finally, Opera Trading Capital acquired a new position in Ferrari N.V. during the 2nd quarter worth approximately $172,000. 29.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Ferrari N.V. (RACE) traded down 1.13% during mid-day trading on Friday, hitting $114.60. 425,130 shares of the stock traded hands. Ferrari N.V. has a one year low of $50.39 and a one year high of $118.10. The stock has a 50 day moving average price of $113.09 and a 200-day moving average price of $96.59. The company has a market cap of $21.65 billion, a P/E ratio of 54.31 and a beta of 1.70.
Ferrari N.V. Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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