Ferrari (NYSE:RACE) Releases FY 2022 Earnings Guidance

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.

The firm also recently declared an annual dividend, which was paid on Friday, May 6th. Stockholders of record on Wednesday, April 20th were issued a dividend of $1.362 per share. The ex-dividend date was Tuesday, April 19th. This represents a dividend yield of 0.66%.

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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