Ferrari N.V. (RACE) Posts Earnings Results, Misses Estimates By $0.03 EPS
Ferrari N.V. (NYSE:RACE) released its quarterly earnings data on Thursday. The company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.03), Briefing.com reports. The company had revenue of $836.00 million for the quarter, compared to the consensus estimate of $831.79 million. Ferrari N.V. had a return on equity of 128.49% and a net margin of 14.43%. Ferrari N.V.’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Ferrari N.V. from a “strong-buy” rating to a “hold” rating in a research report on Thursday. TheStreet raised shares of Ferrari N.V. from a “c” rating to a “b-” rating in a research report on Friday, October 20th. UBS AG reissued a “buy” rating and set a $125.00 price objective (up previously from $100.00) on shares of Ferrari N.V. in a research report on Wednesday, August 9th. Berenberg Bank reissued a “buy” rating on shares of Ferrari N.V. in a research report on Monday, August 14th. Finally, Evercore ISI increased their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $109.86.
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About Ferrari N.V.
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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