Farfetch Ltd (FTCH) Expected to Announce Quarterly Sales of $180.44 Million
Brokerages predict that Farfetch Ltd (NYSE:FTCH) will report sales of $180.44 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Farfetch’s earnings. The highest sales estimate is $184.10 million and the lowest is $176.78 million. The company is scheduled to report its next earnings results on Thursday, February 14th.
On average, analysts expect that Farfetch will report full-year sales of $580.13 million for the current fiscal year, with estimates ranging from $576.47 million to $583.80 million. For the next financial year, analysts anticipate that the business will report sales of $762.13 million, with estimates ranging from $756.00 million to $772.16 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Farfetch.
Farfetch (NYSE:FTCH) last issued its earnings results on Thursday, November 8th. The company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.08). The firm had revenue of $132.18 million during the quarter, compared to analyst estimates of $114.49 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. The business’s quarterly revenue was up 52.1% on a year-over-year basis.
Shares of NYSE FTCH traded down $0.22 during midday trading on Wednesday, hitting $22.11. 624,981 shares of the company’s stock were exchanged, compared to its average volume of 695,540. Farfetch has a twelve month low of $18.39 and a twelve month high of $32.40.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FTCH. Blueport Capital L.P. acquired a new position in Farfetch during the third quarter worth approximately $120,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Farfetch during the third quarter worth approximately $238,000. Pendal Group Ltd acquired a new position in Farfetch during the third quarter worth approximately $282,000. Shikiar Asset Management Inc. acquired a new position in Farfetch during the third quarter worth approximately $436,000. Finally, Point72 Europe London LLP acquired a new position in Farfetch during the third quarter worth approximately $501,000. 31.24% of the stock is currently owned by institutional investors.
Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves on May 15, 2018 and is headquartered in London, the United Kingdom.
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