Forterra Inc (NASDAQ:FRTA) – Analysts at SunTrust Banks reduced their Q1 2018 EPS estimates for Forterra in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst R. Seth now anticipates that the construction company will post earnings of ($0.46) per share for the quarter, down from their previous forecast of ($0.28). SunTrust Banks currently has a “Hold” rating and a $7.00 price objective on the stock. SunTrust Banks also issued estimates for Forterra’s Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at ($0.14) EPS, FY2018 earnings at ($0.24) EPS and FY2019 earnings at $0.02 EPS.
Forterra (NASDAQ:FRTA) last released its earnings results on Wednesday, March 7th. The construction company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.05). The business had revenue of $361.17 million for the quarter, compared to the consensus estimate of $327.91 million. Forterra had a negative return on equity of 44.06% and a negative net margin of 0.13%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.81) earnings per share.
A number of other research firms have also recently commented on FRTA. BidaskClub cut Forterra from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Barclays lifted their target price on Forterra from $4.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 14th. Goldman Sachs Group cut Forterra from a “neutral” rating to a “sell” rating and set a $21.00 target price on the stock. in a research note on Tuesday, January 30th. ValuEngine cut Forterra from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Royal Bank of Canada reiterated a “hold” rating and set a $9.00 target price on shares of Forterra in a research note on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Forterra has an average rating of “Hold” and a consensus target price of $11.81.
Shares of Forterra (FRTA) opened at $8.57 on Monday. The company has a market capitalization of $562.02, a price-to-earnings ratio of -214.25 and a beta of 1.87. Forterra has a 52 week low of $3.02 and a 52 week high of $20.47. The company has a debt-to-equity ratio of 9.54, a quick ratio of 1.41 and a current ratio of 2.39.
A number of institutional investors have recently made changes to their positions in FRTA. Voya Investment Management LLC bought a new stake in Forterra in the 2nd quarter valued at about $104,000. Bank of Montreal Can raised its stake in Forterra by 379.5% in the 4th quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock valued at $107,000 after acquiring an additional 7,590 shares during the period. Rehmann Capital Advisory Group bought a new stake in Forterra in the 4th quarter valued at about $124,000. Paradigm Capital Management Inc. NY bought a new stake in Forterra in the 3rd quarter valued at about $137,000. Finally, Two Sigma Investments LP bought a new stake in Forterra in the 4th quarter valued at about $139,000.
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Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
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