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 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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