Ferrari (RACE) Projected to Post Quarterly Earnings on Thursday

Ferrari (NYSE:RACE) is anticipated to release its earnings data before the market opens on Thursday, February 6th. Analysts expect Ferrari to post earnings of $2.15 per share and revenue of $1.94 billion for the quarter. Ferrari has set its FY 2024 guidance at 8.680- EPS.Investors interested in registering for the company’s conference call can do so using this link.

Ferrari (NYSE:RACE) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.03). Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the previous year, the firm earned $1.98 EPS. Ferrari’s revenue was up 6.5% compared to the same quarter last year. On average, analysts expect Ferrari to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Ferrari Stock Performance

RACE stock opened at $429.13 on Thursday. Ferrari has a twelve month low of $345.92 and a twelve month high of $498.23. The firm has a market cap of $104.60 billion, a price-to-earnings ratio of 49.84, a PEG ratio of 3.70 and a beta of 0.95. The business’s fifty day simple moving average is $433.73 and its two-hundred day simple moving average is $448.62. The company has a quick ratio of 3.55, a current ratio of 4.57 and a debt-to-equity ratio of 0.93.

Analyst Upgrades and Downgrades

RACE has been the subject of several research reports. JPMorgan Chase & Co. raised shares of Ferrari from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $385.00 to $525.00 in a research report on Friday, October 11th. Evercore ISI increased their price objective on Ferrari from $475.00 to $565.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. UBS Group lifted their target price on Ferrari from $478.00 to $513.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, StockNews.com downgraded Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $507.14.

Ferrari Company Profile

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.