Ferrari (NYSE:RACE) released its quarterly earnings results on Tuesday, May 7th. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.06, Briefing.com reports. Ferrari had a return on equity of 53.74% and a net margin of 23.17%. The business had revenue of $940.00 million for the quarter, compared to analyst estimates of $868.32 million. During the same period in the prior year, the company earned $0.78 EPS. Ferrari’s revenue for the quarter was up 13.1% on a year-over-year basis. Ferrari updated its FY 2019 guidance to $3.92-4.14 EPS and its FY19 guidance to €3.50-3.70 EPS.
RACE opened at $143.00 on Friday. Ferrari has a one year low of $93.85 and a one year high of $149.85. The company has a debt-to-equity ratio of 1.39, a quick ratio of 3.67 and a current ratio of 4.27. The firm has a market capitalization of $27.31 billion, a PE ratio of 35.57, a PEG ratio of 2.20 and a beta of 1.53.
Several analysts have weighed in on RACE shares. Evercore ISI raised Ferrari from an “in-line” rating to an “outperform” rating in a report on Thursday, May 23rd. Morgan Stanley upgraded Ferrari from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $140.00 to $160.00 in a research report on Thursday, May 9th. Credit Suisse Group raised their price objective on Ferrari from $148.00 to $158.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. Zacks Investment Research downgraded Ferrari from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Finally, HSBC lowered Ferrari from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Ferrari currently has a consensus rating of “Hold” and an average price target of $141.26.
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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