FY2018 EPS Estimates for Ferrari (RACE) Cut by Analyst
Ferrari (NYSE:RACE) – Equities research analysts at Jefferies Group dropped their FY2018 earnings estimates for Ferrari in a research report issued on Monday. Jefferies Group analyst P. Houchois now forecasts that the company will post earnings of $3.30 per share for the year, down from their prior estimate of $3.73. Jefferies Group currently has a “Buy” rating and a $130.00 price target on the stock. Jefferies Group also issued estimates for Ferrari’s FY2019 earnings at $3.72 EPS, FY2020 earnings at $4.74 EPS and FY2021 earnings at $6.30 EPS.
Several other research analysts also recently commented on the company. BidaskClub downgraded Ferrari from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 9th. Zacks Investment Research downgraded Ferrari from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. HSBC began coverage on Ferrari in a research note on Monday, December 11th. They issued a “hold” rating for the company. Finally, TheStreet upgraded Ferrari from a “c” rating to a “b-” rating in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $117.86.
Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.03). The company had revenue of $840.00 million for the quarter, compared to analyst estimates of $869.74 million. Ferrari had a return on equity of 98.82% and a net margin of 15.74%. The firm’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS.
Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC increased its holdings in Ferrari by 554.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,060 shares of the company’s stock worth $117,000 after purchasing an additional 898 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in Ferrari in the 4th quarter worth about $116,000. Cerebellum GP LLC acquired a new position in Ferrari in the 4th quarter worth about $125,000. Cornerstone Advisors Inc. increased its holdings in Ferrari by 678.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,526 shares of the company’s stock worth $169,000 after purchasing an additional 1,330 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in Ferrari by 90.9% in the 3rd quarter. IFP Advisors Inc now owns 1,569 shares of the company’s stock worth $173,000 after purchasing an additional 747 shares in the last quarter. 31.86% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION NOTICE: This report was originally published by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another publication, it was stolen and republished in violation of United States & international copyright & trademark laws. The original version of this report can be viewed at https://www.dailypolitical.com/2018/02/08/fy2018-eps-estimates-for-ferrari-race-cut-by-analyst.html.
Ferrari Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.