Forterra Inc (FRTA) Expected to Post Earnings of -$0.43 Per Share

Brokerages expect Forterra Inc (NASDAQ:FRTA) to report ($0.43) earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Forterra’s earnings. The highest EPS estimate is ($0.32) and the lowest is ($0.54). Forterra reported earnings of ($0.37) per share during the same quarter last year, which would indicate a negative year over year growth rate of 16.2%. The company is expected to report its next quarterly earnings report on Tuesday, May 14th.

On average, analysts expect that Forterra will report full year earnings of ($0.20) per share for the current financial year, with EPS estimates ranging from ($0.41) to $0.12. For the next year, analysts expect that the business will post earnings of $0.00 per share, with EPS estimates ranging from ($0.01) to $0.01. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Forterra.

Forterra (NASDAQ:FRTA) last released its quarterly earnings data on Monday, March 11th. The construction company reported ($0.27) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.27). The business had revenue of $339.16 million during the quarter, compared to analysts’ expectations of $369.08 million. Forterra had a negative return on equity of 23.75% and a negative net margin of 1.65%.

Several research firms have recently issued reports on FRTA. Zacks Investment Research cut Forterra from a “buy” rating to a “hold” rating in a research report on Monday, March 25th. Citigroup boosted their target price on Forterra from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Thursday, March 14th. BidaskClub downgraded Forterra from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. BNP Paribas raised Forterra from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 23rd. Finally, Exane BNP Paribas raised Forterra from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.65.

Shares of NASDAQ:FRTA traded down $0.12 on Monday, hitting $4.10. 195,392 shares of the company’s stock were exchanged, compared to its average volume of 230,653. The stock has a market cap of $270.95 million, a P/E ratio of -9.27 and a beta of 2.77. Forterra has a 1-year low of $3.25 and a 1-year high of $10.47. The company has a debt-to-equity ratio of 12.79, a quick ratio of 1.17 and a current ratio of 2.45.

In related news, CFO Charles Rodney Brown acquired 36,745 shares of Forterra stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $4.16 per share, with a total value of $152,859.20. Following the purchase, the chief financial officer now directly owns 57,762 shares in the company, valued at $240,289.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lori M. Browne acquired 6,118 shares of Forterra stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $4.38 per share, with a total value of $26,796.84. Following the completion of the purchase, the vice president now owns 41,486 shares in the company, valued at $181,708.68. The disclosure for this purchase can be found here. Insiders bought a total of 82,863 shares of company stock valued at $331,656 over the last three months. Company insiders own 0.84% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Forterra during the 3rd quarter valued at approximately $294,000. Northern Trust Corp raised its stake in Forterra by 4.2% during the 2nd quarter. Northern Trust Corp now owns 188,157 shares of the construction company’s stock valued at $1,831,000 after acquiring an additional 7,592 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in Forterra by 44.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 65,021 shares of the construction company’s stock valued at $244,000 after acquiring an additional 20,021 shares during the last quarter. Royce & Associates LP raised its stake in Forterra by 15.5% during the 4th quarter. Royce & Associates LP now owns 2,202,367 shares of the construction company’s stock valued at $8,281,000 after acquiring an additional 294,992 shares during the last quarter. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in Forterra during the 4th quarter valued at approximately $1,446,000. 98.41% of the stock is owned by hedge funds and other institutional investors.

Forterra Company Profile

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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