Ferrari NV (RACE) Expected to Announce Earnings of $0.89 Per Share

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Brokerages expect Ferrari NV (NYSE:RACE) to post $0.89 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Ferrari’s earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $0.91. Ferrari posted earnings per share of $0.87 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The business is expected to issue its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Ferrari will report full year earnings of $3.67 per share for the current financial year, with EPS estimates ranging from $3.63 to $3.71. For the next fiscal year, analysts expect that the business will post earnings of $3.95 per share, with EPS estimates ranging from $3.86 to $4.06. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Ferrari.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.10. The business had revenue of $906.00 million during the quarter, compared to analysts’ expectations of $925.46 million. Ferrari had a return on equity of 72.38% and a net margin of 17.18%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS.

Several brokerages have recently issued reports on RACE. ValuEngine upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Morgan Stanley upgraded Ferrari from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $110.00 to $120.00 in a research note on Thursday, August 2nd. Zacks Investment Research cut Ferrari from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, July 4th. Goldman Sachs Group began coverage on Ferrari in a research note on Friday, May 25th. They issued a “neutral” rating for the company. Finally, Credit Suisse Group lifted their price objective on Ferrari from $150.00 to $156.00 and gave the company an “outperform” rating in a research note on Friday, May 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $136.57.

Shares of RACE opened at $120.80 on Tuesday. The company has a debt-to-equity ratio of 2.00, a current ratio of 3.36 and a quick ratio of 2.71. The stock has a market capitalization of $22.79 billion, a PE ratio of 37.87, a P/E/G ratio of 2.20 and a beta of 1.28. Ferrari has a 1 year low of $103.65 and a 1 year high of $149.85.

Hedge funds have recently bought and sold shares of the stock. Financial Gravity Wealth Inc. purchased a new stake in Ferrari during the first quarter worth approximately $131,000. Nisa Investment Advisors LLC purchased a new stake in Ferrari during the second quarter worth approximately $155,000. Cigna Investments Inc. New purchased a new stake in Ferrari during the first quarter worth approximately $200,000. Sfmg LLC purchased a new stake in Ferrari during the second quarter worth approximately $214,000. Finally, Sapphire Star Partners LP purchased a new stake in Ferrari during the first quarter worth approximately $240,000. Hedge funds and other institutional investors own 32.32% of the company’s stock.

About Ferrari

Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports cars, GT cars, special series cars, limited edition supercars, limited editions series, and one-off cars; and open air roadsters and two-seater mid-rear-engined roadsters.

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