Ferrari (NYSE:RACE) Releases FY19 Earnings Guidance

Ferrari (NYSE:RACE) updated its FY19 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of €3.50-3.70 for the period, compared to the Thomson Reuters consensus estimate of $3.68. The company issued revenue guidance of >€3.5 billion, compared to the consensus revenue estimate of $3.70 billion.Ferrari also updated its FY 2019 guidance to $3.88-4.11 EPS.

Several equities research analysts recently weighed in on the company. HSBC lowered Ferrari from a buy rating to a hold rating in a report on Friday, April 26th. UBS Group lifted their price objective on Ferrari from $160.00 to $187.00 and gave the stock a buy rating in a report on Wednesday, July 3rd. They noted that the move was a valuation call. Morgan Stanley raised Ferrari from an equal weight rating to an overweight rating and lifted their price objective for the stock from $140.00 to $160.00 in a report on Thursday, May 9th. Zacks Investment Research raised Ferrari from a hold rating to a buy rating and set a $186.00 price objective for the company in a report on Tuesday, July 30th. Finally, Credit Suisse Group reissued an outperform rating and issued a $185.00 price objective (up previously from $158.00) on shares of Ferrari in a report on Thursday, June 20th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $166.26.

RACE stock traded down $3.52 during mid-day trading on Friday, reaching $159.48. 805,338 shares of the company traded hands, compared to its average volume of 351,642. The company has a quick ratio of 3.67, a current ratio of 4.27 and a debt-to-equity ratio of 1.39. The stock has a market capitalization of $30.80 billion, a P/E ratio of 39.67, a P/E/G ratio of 2.40 and a beta of 1.34. Ferrari has a 52-week low of $93.85 and a 52-week high of $170.54. The company has a fifty day moving average price of $163.67.

Ferrari (NYSE:RACE) last posted its earnings results on Friday, August 2nd. The company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.03 by $0.06. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.08 billion. Ferrari had a return on equity of 53.74% and a net margin of 23.17%. Analysts expect that Ferrari will post 4.03 earnings per share for the current fiscal year.

Ferrari Company Profile

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

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