$0.90 Earnings Per Share Expected for Ferrari NV (RACE) This Quarter

Analysts expect that Ferrari NV (NYSE:RACE) will announce earnings of $0.90 per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Ferrari’s earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.94. Ferrari reported earnings of $0.79 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The company is expected to issue its next quarterly earnings report before the market opens on Wednesday, August 1st.

According to Zacks, analysts expect that Ferrari will report full year earnings of $3.64 per share for the current fiscal year, with EPS estimates ranging from $3.61 to $3.66. For the next fiscal year, analysts forecast that the business will report earnings of $3.94 per share, with EPS estimates ranging from $3.78 to $4.10. Zacks’ EPS averages are an average based on a survey of research firms that follow Ferrari.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, May 3rd. The company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.10). The firm had revenue of $831.00 million for the quarter, compared to the consensus estimate of $835.47 million. Ferrari had a net margin of 16.44% and a return on equity of 79.32%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share.

RACE has been the topic of several recent analyst reports. ValuEngine upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. Zacks Investment Research upgraded shares of Ferrari from a “sell” rating to a “buy” rating and set a $154.00 price objective on the stock in a research report on Tuesday, May 8th. Goldman Sachs Group assumed coverage on shares of Ferrari in a research report on Friday, May 25th. They set a “neutral” rating on the stock. Credit Suisse Group lifted their price target on shares of Ferrari from $150.00 to $156.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Finally, Morgan Stanley lifted their price target on shares of Ferrari from $105.00 to $110.00 and gave the company an “underweight” rating in a report on Tuesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Ferrari has a consensus rating of “Hold” and a consensus target price of $135.14.

Shares of RACE stock traded down $0.03 on Friday, hitting $131.60. 549,812 shares of the stock traded hands, compared to its average volume of 504,573. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.31 and a beta of 1.40. Ferrari has a 52 week low of $103.17 and a 52 week high of $149.85. The company has a debt-to-equity ratio of 2.03, a current ratio of 3.17 and a quick ratio of 2.56.

A number of hedge funds and other institutional investors have recently made changes to their positions in RACE. Amundi Pioneer Asset Management Inc. increased its holdings in Ferrari by 66.1% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,153,572 shares of the company’s stock valued at $139,028,000 after acquiring an additional 459,151 shares during the last quarter. Jane Street Group LLC increased its holdings in Ferrari by 1,998.3% in the 1st quarter. Jane Street Group LLC now owns 341,462 shares of the company’s stock valued at $41,153,000 after acquiring an additional 325,189 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in Ferrari in the 1st quarter valued at $36,169,000. Jupiter Asset Management Ltd. bought a new stake in Ferrari in the 1st quarter valued at $20,350,000. Finally, Pelham Capital Ltd. bought a new stake in Ferrari in the 2nd quarter valued at $16,298,000. Institutional investors own 32.11% of the company’s stock.

Ferrari Company Profile

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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