Forterra Inc (NASDAQ:FRTA) – Equities researchers at Oppenheimer increased their FY2019 earnings per share (EPS) estimates for shares of Forterra in a research note issued to investors on Tuesday, November 6th. Oppenheimer analyst I. Zaffino now anticipates that the construction company will earn $0.04 per share for the year, up from their prior forecast of $0.02. Oppenheimer currently has a “Buy” rating and a $13.00 target price on the stock.
Forterra (NASDAQ:FRTA) last posted its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The company had revenue of $434.51 million for the quarter, compared to analyst estimates of $449.72 million. Forterra had a net margin of 2.38% and a negative return on equity of 23.36%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.18) EPS.
Other analysts have also issued research reports about the company. BidaskClub lowered Forterra from a “buy” rating to a “hold” rating in a research note on Tuesday, August 21st. Zacks Investment Research raised Forterra from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Barclays increased their price objective on Forterra from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Monday, August 13th. Finally, Citigroup increased their price objective on Forterra from $9.50 to $10.50 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.47.
FRTA opened at $5.46 on Thursday. The company has a current ratio of 2.15, a quick ratio of 1.14 and a debt-to-equity ratio of 11.59. The firm has a market cap of $400.70 million, a P/E ratio of -6.91 and a beta of 2.43. Forterra has a 52 week low of $4.39 and a 52 week high of $12.30.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRTA. Jane Street Group LLC purchased a new position in Forterra during the first quarter worth about $100,000. BlueMountain Capital Management LLC purchased a new position in Forterra during the second quarter worth about $102,000. Barclays PLC lifted its position in Forterra by 415.1% during the first quarter. Barclays PLC now owns 15,252 shares of the construction company’s stock worth $128,000 after buying an additional 12,291 shares during the period. Fox Run Management L.L.C. purchased a new position in Forterra during the third quarter worth about $145,000. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Forterra by 350.0% in the 3rd quarter. Valeo Financial Advisors LLC now owns 45,000 shares of the construction company’s stock worth $203,000 after purchasing an additional 35,000 shares during the period.
Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.
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