Ferrari (NYSE:RACE) Issues FY 2019 Earnings Guidance

Ferrari (NYSE:RACE) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.92-4.14 for the period, compared to the Thomson Reuters consensus estimate of $4.07. The company issued revenue guidance of $3.92-3.92 billion, compared to the consensus revenue estimate of $4.09 billion.Ferrari also updated its FY19 guidance to €3.50-3.70 EPS.

RACE stock traded up $0.02 during midday trading on Friday, hitting $143.02. 627,338 shares of the stock were exchanged, compared to its average volume of 430,766. The stock has a market cap of $27.03 billion, a PE ratio of 35.58, a P/E/G ratio of 2.17 and a beta of 1.53. Ferrari has a fifty-two week low of $93.85 and a fifty-two week 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.

Ferrari (NYSE:RACE) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.06. Ferrari had a return on equity of 53.74% and a net margin of 23.17%. The firm had revenue of $940.00 million during the quarter, compared to analysts’ expectations of $868.32 million. During the same period in the previous year, the firm posted $0.78 earnings per share. Ferrari’s revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts predict that Ferrari will post 4.01 earnings per share for the current year.

Several equities analysts recently commented on the company. ValuEngine lowered Ferrari from a buy rating to a hold rating in a research note on Tuesday, May 7th. HSBC lowered Ferrari from a buy rating to a hold rating in a research note on Friday, April 26th. Evercore ISI raised Ferrari from an in-line rating to an outperform rating in a research report on Thursday, May 23rd. Zacks Investment Research downgraded Ferrari from a buy rating to a hold rating in a research report on Thursday, April 25th. Finally, Morgan Stanley raised Ferrari from an equal weight rating to an overweight rating and boosted their price target for the company from $140.00 to $160.00 in a research report on Thursday, May 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Ferrari has an average rating of Hold and an average price target of $141.26.

ILLEGAL ACTIVITY NOTICE: “Ferrari (NYSE:RACE) Issues FY 2019 Earnings Guidance” was originally published by Rockland Register and is the sole property of of Rockland Register. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://rocklandregister.com/2019/05/31/ferrari-race-releases-fy-2019-earnings-guidance.html.

Ferrari Company Profile

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.

Featured Story: What are the advantages of the Stochastic Momentum Index?

Receive News & Ratings for Ferrari Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ferrari and related companies with MarketBeat.com's FREE daily email newsletter.