Ferrari (NYSE:RACE) Updates FY 2021 Earnings Guidance
Ferrari (NYSE:RACE) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.824-5.065 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.990. The company issued revenue guidance of $5.19 billion-$5.19 billion, compared to the consensus revenue estimate of $5.16 billion.
RACE traded down $15.00 during midday trading on Tuesday, hitting $202.98. The stock had a trading volume of 1,147,679 shares, compared to its average volume of 381,335. The company has a market cap of $37.50 billion, a P/E ratio of 65.27, a price-to-earnings-growth ratio of 4.59 and a beta of 1.00. The business has a fifty day moving average of $208.60 and a 200 day moving average of $207.64. The company has a debt-to-equity ratio of 1.80, a quick ratio of 3.93 and a current ratio of 4.63. Ferrari has a 1 year low of $150.97 and a 1 year high of $233.66.
Ferrari (NYSE:RACE) last announced its quarterly earnings data on Monday, February 1st. The company reported $1.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.24. Ferrari had a return on equity of 34.85% and a net margin of 15.50%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.90 earnings per share. The business’s revenue was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Ferrari will post 3.31 earnings per share for the current year.
Several analysts have weighed in on RACE shares. Smith Barney Citigroup downgraded Ferrari from a buy rating to a neutral rating in a research report on Thursday, January 7th. Zacks Investment Research downgraded Ferrari from a buy rating to a hold rating in a research report on Thursday, April 22nd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell downgraded Ferrari from a buy rating to a neutral rating in a research report on Thursday, January 7th. Morgan Stanley upped their target price on Ferrari from $265.00 to $273.00 and gave the company an overweight rating in a report on Wednesday, February 3rd. Finally, Citigroup downgraded Ferrari from a neutral rating to a sell rating in a report on Wednesday, February 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Ferrari presently has an average rating of Hold and a consensus price target of $229.11.
Ferrari Company Profile
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; one-off and track cars; and Icona cars. It also provides racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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