Equities analysts expect Forterra Inc (NASDAQ:FRTA) to report sales of $426.35 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Forterra’s earnings, with estimates ranging from $423.20 million to $429.50 million. Forterra reported sales of $416.09 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The company is expected to issue its next earnings report on Wednesday, August 14th.
On average, analysts expect that Forterra will report full-year sales of $1.53 billion for the current fiscal year, with estimates ranging from $1.51 billion to $1.54 billion. For the next financial year, analysts forecast that the firm will report sales of $1.57 billion, with estimates ranging from $1.56 billion to $1.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Forterra.
Forterra (NASDAQ:FRTA) last issued its quarterly earnings results on Monday, May 6th. The construction company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.15. The company had revenue of $291.90 million during the quarter, compared to the consensus estimate of $275.84 million. Forterra had a negative return on equity of 26.15% and a negative net margin of 1.99%. Forterra’s revenue was up .7% on a year-over-year basis. During the same period last year, the business posted ($0.31) earnings per share.
FRTA has been the subject of a number of recent research reports. BidaskClub raised Forterra from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Zacks Investment Research raised Forterra from a “hold” rating to a “buy” rating and set a $5.25 target price for the company in a research report on Friday, January 25th. BNP Paribas raised Forterra from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 23rd. Citigroup raised their target price on Forterra from $4.50 to $5.50 and gave the stock a “neutral” rating in a research report on Thursday, March 14th. Finally, Exane BNP Paribas raised Forterra from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 23rd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.85.
In other Forterra news, CEO Jeff Bradley acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $3.80 per share, with a total value of $152,000.00. Following the completion of the purchase, the chief executive officer now owns 195,184 shares of the company’s stock, valued at $741,699.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lori M. Browne acquired 6,118 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $4.38 per share, with a total value of $26,796.84. Following the purchase, the vice president now directly owns 41,486 shares of the company’s stock, valued at approximately $181,708.68. The disclosure for this purchase can be found here. Insiders have purchased 82,863 shares of company stock valued at $331,656 in the last three months. 0.84% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of FRTA. Intrinsic Edge Capital Management LLC bought a new stake in Forterra during the fourth quarter valued at $1,446,000. Royce & Associates LP raised its position in Forterra by 15.5% during the fourth quarter. Royce & Associates LP now owns 2,202,367 shares of the construction company’s stock valued at $8,281,000 after purchasing an additional 294,992 shares in the last quarter. Bank of America Corp DE raised its position in Forterra by 1,606.2% during the fourth quarter. Bank of America Corp DE now owns 148,879 shares of the construction company’s stock valued at $559,000 after purchasing an additional 140,153 shares in the last quarter. Paradigm Capital Management Inc. NY raised its position in Forterra by 225.8% during the first quarter. Paradigm Capital Management Inc. NY now owns 101,000 shares of the construction company’s stock valued at $426,000 after purchasing an additional 70,000 shares in the last quarter. Finally, BlackRock Inc. raised its position in Forterra by 3.9% during the first quarter. BlackRock Inc. now owns 1,418,746 shares of the construction company’s stock valued at $5,986,000 after purchasing an additional 53,216 shares in the last quarter. 98.30% of the stock is owned by institutional investors.
Shares of FRTA opened at $5.75 on Friday. The company has a debt-to-equity ratio of 15.85, a current ratio of 2.57 and a quick ratio of 1.17. The company has a market cap of $369.72 million, a P/E ratio of -13.07 and a beta of 2.78. Forterra has a 12 month low of $3.25 and a 12 month high of $10.47.
Forterra, Inc manufactures and sells pipe and precast products the United States, Canada, and Mexico. It operates through Drainage Pipe & Products; and Water Pipe & Products segments. It offers concrete drainage pipes used for storm water applications, residential and non-residential site developments, sanitary sewers, low-pressure sewer force mains, tunneled systems, treatment plant piping, and utility tunnels.
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