Ferrari (NYSE:RACE – Get Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $5.11-$5.33 for the period, compared to the consensus estimate of $4.75. The company issued revenue guidance of $5.39 billion-$5.39 billion, compared to the consensus revenue estimate of $4.78 billion. Ferrari also updated its FY 2026 guidance to $8.08-$8.98 EPS.
Shares of NYSE RACE opened at $187.94 on Friday. The company has a quick ratio of 3.24, a current ratio of 3.82 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $34.72 billion, a price-to-earnings ratio of 34.61, a PEG ratio of 3.48 and a beta of 0.94. The stock’s fifty day simple moving average is $191.74 and its 200 day simple moving average is $214.98. Ferrari has a 52-week low of $167.45 and a 52-week high of $278.78.
Ferrari (NYSE:RACE – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.19. Ferrari had a return on equity of 40.26% and a net margin of 19.46%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.17 billion. As a group, analysts anticipate that Ferrari will post 4.89 earnings per share for the current year.
A number of research analysts have recently weighed in on RACE shares. JPMorgan Chase & Co. lowered their price target on Ferrari from $230.00 to $210.00 in a report on Monday, April 25th. Credit Suisse Group reiterated a buy rating and set a $285.00 price target on shares of Ferrari in a report on Friday, June 10th. BNP Paribas raised Ferrari from a neutral rating to an outperform rating and set a $255.00 price objective for the company in a research report on Tuesday, April 12th. Cheuvreux raised Ferrari from a reduce rating to a hold rating in a research report on Wednesday, June 8th. Finally, Citigroup reduced their price objective on Ferrari from €160.00 ($170.21) to €140.00 ($148.94) in a research report on Tuesday, May 31st. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Ferrari currently has an average rating of Moderate Buy and a consensus price target of $249.90.
Institutional investors and hedge funds have recently modified their holdings of the stock. Compton Capital Management Inc. RI increased its stake in Ferrari by 16.7% during the first quarter. Compton Capital Management Inc. RI now owns 1,400 shares of the company’s stock valued at $305,000 after acquiring an additional 200 shares during the period. Private Advisor Group LLC grew its stake in shares of Ferrari by 54.8% in the 1st quarter. Private Advisor Group LLC now owns 1,553 shares of the company’s stock valued at $339,000 after purchasing an additional 550 shares during the period. KB Financial Partners LLC grew its stake in shares of Ferrari by 20.1% in the 1st quarter. KB Financial Partners LLC now owns 1,718 shares of the company’s stock valued at $375,000 after purchasing an additional 287 shares during the period. Cetera Investment Advisers grew its stake in shares of Ferrari by 9.2% in the 1st quarter. Cetera Investment Advisers now owns 2,556 shares of the company’s stock valued at $565,000 after purchasing an additional 215 shares during the period. Finally, Blair William & Co. IL grew its stake in shares of Ferrari by 2.1% in the 1st quarter. Blair William & Co. IL now owns 3,112 shares of the company’s stock valued at $679,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 38.36% of the company’s stock.
About Ferrari (Get Rating)
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 hyper cars; 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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