Fortrea (FTRE) Scheduled to Post Quarterly Earnings on Tuesday

Fortrea (NASDAQ:FTRE) will be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter. Individual interested in listening to the company’s earnings conference call can do so using this link.

Fortrea (NASDAQ:FTRE) last posted its quarterly earnings results on Monday, March 11th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $775.40 million for the quarter, compared to analyst estimates of $779.09 million. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, analysts expect Fortrea to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortrea Stock Performance

Shares of NASDAQ FTRE opened at $37.41 on Monday. The firm’s 50-day moving average price is $38.01 and its 200-day moving average price is $33.96. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.90. Fortrea has a 1-year low of $24.92 and a 1-year high of $41.02.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on FTRE shares. Robert W. Baird started coverage on Fortrea in a research note on Friday, March 22nd. They set a “neutral” rating and a $43.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 target price on the stock. Finally, Barclays reduced their price target on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.29.

About Fortrea

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.