Ferrari (RACE) Set to Announce Earnings on Tuesday

Ferrari (NYSE:RACE) will be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect Ferrari to post earnings of $2.04 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Ferrari (NYSE:RACE) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. On average, analysts expect Ferrari to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Ferrari Stock Performance

NYSE RACE opened at $430.29 on Monday. The company has a debt-to-equity ratio of 0.81, a current ratio of 3.91 and a quick ratio of 2.98. The stock’s fifty day moving average is $422.25 and its two-hundred day moving average is $375.90. Ferrari has a fifty-two week low of $283.20 and a fifty-two week high of $442.80.

Ferrari Dividend Announcement

The firm also recently disclosed an annual dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were given a $2.443 dividend. The ex-dividend date was Monday, April 22nd. This represents a yield of 0.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RACE shares. UBS Group raised their target price on Ferrari from $413.00 to $448.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Morgan Stanley restated an “overweight” rating and issued a $400.00 price target on shares of Ferrari in a research note on Monday, April 22nd. Sanford C. Bernstein increased their price objective on Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Bank of America boosted their target price on Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, StockNews.com upgraded Ferrari from a “hold” rating to a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $413.86.

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.