Ferrari (NYSE:RACE – Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Tuesday, May 7th. Analysts expect Ferrari to post earnings of $2.04 per share for the quarter. Ferrari has set its FY 2024 guidance at 8.070- EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.
Ferrari (NYSE:RACE – Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.15. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. On average, analysts expect Ferrari to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.
Ferrari Price Performance
RACE stock opened at $422.64 on Tuesday. Ferrari has a 1-year low of $273.39 and a 1-year high of $442.80. The business’s 50 day simple moving average is $420.92 and its 200 day simple moving average is $372.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98.
Ferrari Announces Dividend
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Morgan Stanley restated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a research note on Monday, April 22nd. Citigroup cut shares of Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Evercore ISI boosted their price objective on shares of Ferrari from $430.00 to $465.00 and gave the company an “outperform” rating in a report on Monday, April 22nd. Finally, Bank of America increased their target price on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Ferrari currently has a consensus rating of “Hold” and a consensus price target of $413.86.
View Our Latest Report on Ferrari
About Ferrari
Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.
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