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.

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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.

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