Ferrari (NYSE:RACE) Issues FY 2022 Earnings Guidance

Ferrari (NYSE:RACEGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided EPS guidance of $5.11-$5.33 for the period, compared to the consensus EPS estimate of $4.75. The company issued revenue guidance of $5.39 billion-$5.39 billion, compared to the consensus revenue estimate of $4.78 billion. Ferrari also updated its FY 2026 guidance to $8.08-$8.98 EPS.

A number of equities research analysts have recently weighed in on the stock. Kepler Capital Markets upgraded shares of Ferrari from a reduce rating to a hold rating in a report on Wednesday, June 8th. Cheuvreux upgraded shares of Ferrari from a reduce rating to a hold rating in a report on Wednesday, June 8th. JPMorgan Chase & Co. lowered their price target on shares of Ferrari from $230.00 to $210.00 in a report on Monday, April 25th. Exane BNP Paribas upgraded shares of Ferrari from a neutral rating to an outperform rating and set a €255.00 ($268.42) price target for the company in a report on Tuesday, April 12th. Finally, Redburn Partners upgraded shares of Ferrari from a neutral rating to a buy rating in a report on Friday, March 11th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $249.90.

Shares of NYSE:RACE opened at $183.75 on Thursday. The firm’s 50 day moving average price is $196.28 and its 200-day moving average price is $218.59. Ferrari has a twelve month low of $167.45 and a twelve month high of $278.78. The company has a quick ratio of 3.24, a current ratio of 3.82 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $33.95 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94.

Ferrari (NYSE:RACEGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. Ferrari had a net margin of 19.46% and a return on equity of 40.26%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.17 billion. Analysts expect that Ferrari will post 4.89 earnings per share for the current fiscal year.

The business also recently declared an annual dividend, which was paid on Friday, May 6th. Investors of record on Wednesday, April 20th were given a $1.362 dividend. The ex-dividend date was Tuesday, April 19th. This represents a yield of 0.66%.

Several large investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Ferrari by 5.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 4,125 shares of the company’s stock valued at $900,000 after purchasing an additional 220 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Ferrari by 54.8% in the 1st quarter. Private Advisor Group LLC now owns 1,553 shares of the company’s stock valued at $339,000 after purchasing an additional 550 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Ferrari by 3.3% in the 1st quarter. BlackRock Inc. now owns 1,066,538 shares of the company’s stock valued at $232,602,000 after purchasing an additional 33,643 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of Ferrari by 143.3% in the 1st quarter. Cibc World Market Inc. now owns 6,983 shares of the company’s stock valued at $1,523,000 after purchasing an additional 4,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Ferrari by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 67,953 shares of the company’s stock valued at $14,820,000 after purchasing an additional 5,286 shares in the last quarter. Institutional investors and hedge funds own 38.36% of the company’s stock.

About Ferrari (Get Rating)

Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.

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