Ferrari (RACE) Forecasted to Post FY2022 Earnings of $7.54 Per Share

Ferrari (NYSE:RACE) – Equities research analysts at Jefferies Group issued their FY2022 earnings per share (EPS) estimates for Ferrari in a report released on Monday. Jefferies Group analyst P. Houchois forecasts that the company will earn $7.54 per share for the year. Jefferies Group has a “Buy” rating and a $130.00 price target on the stock.

Ferrari (NYSE:RACE) last posted its earnings results on Thursday, February 1st. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.03). Ferrari had a return on equity of 98.82% and a net margin of 15.74%. The company had revenue of $840.00 million during the quarter, compared to analyst estimates of $869.74 million. During the same quarter last year, the firm posted $0.69 earnings per share. The firm’s revenue for the quarter was up .5% compared to the same quarter last year.

Several other research firms have also weighed in on RACE. BidaskClub lowered Ferrari from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 9th. Zacks Investment Research lowered Ferrari from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 2nd. TheStreet upgraded Ferrari from a “c” rating to a “b-” rating in a report on Friday, October 20th. Finally, HSBC initiated coverage on Ferrari in a report on Monday, December 11th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Ferrari currently has a consensus rating of “Buy” and an average target price of $117.86.

Ferrari (NYSE RACE) traded down $2.82 on Wednesday, reaching $124.08. The company had a trading volume of 794,089 shares, compared to its average volume of 598,870. Ferrari has a 12-month low of $64.12 and a 12-month high of $130.63. The company has a current ratio of 3.26, a quick ratio of 2.68 and a debt-to-equity ratio of 2.77. The firm has a market cap of $23,980.00 and a price-to-earnings ratio of 39.78.

Several hedge funds have recently modified their holdings of RACE. Ameriprise Financial Inc. acquired a new position in shares of Ferrari during the second quarter worth approximately $216,000. PNC Financial Services Group Inc. lifted its holdings in shares of Ferrari by 6.6% during the second quarter. PNC Financial Services Group Inc. now owns 1,917 shares of the company’s stock worth $165,000 after buying an additional 119 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Ferrari by 1.3% during the second quarter. Vanguard Group Inc. now owns 3,144,415 shares of the company’s stock worth $270,483,000 after buying an additional 39,530 shares during the last quarter. FMR LLC lifted its holdings in shares of Ferrari by 127.4% during the second quarter. FMR LLC now owns 288,178 shares of the company’s stock worth $24,789,000 after buying an additional 161,436 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Ferrari by 48.0% during the second quarter. Advisor Group Inc. now owns 2,574 shares of the company’s stock worth $223,000 after buying an additional 835 shares during the last quarter. Institutional investors own 31.86% of the company’s stock.

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About Ferrari

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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