Ferrari (RACE) Scheduled to Post Quarterly Earnings on Thursday

Ferrari (NYSE:RACE) will be announcing its earnings results before the market opens on Thursday, August 1st. Analysts expect the company to announce earnings of $2.23 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 issued its earnings results on Tuesday, May 7th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.04 by $0.08. Ferrari had a net margin of 21.42% and a return on equity of 43.94%. The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.73 billion. 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

Shares of NYSE:RACE opened at $410.46 on Wednesday. Ferrari has a 52 week low of $285.02 and a 52 week high of $442.80. The company has a quick ratio of 3.25, a current ratio of 4.18 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average price of $417.46 and a two-hundred day moving average price of $408.56.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RACE shares. Sanford C. Bernstein upped their target price on shares of Ferrari from $448.00 to $512.00 and gave the company an “outperform” rating in a research note on Thursday, April 18th. Barclays cut shares of Ferrari from an “overweight” rating to an “equal weight” rating in a report on Thursday, April 4th. Bank of America upped their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Jefferies Financial Group started coverage on shares of Ferrari in a report on Friday, May 10th. They issued a “hold” rating and a $403.00 price target for the company. Finally, UBS Group upped their price target on shares of Ferrari from $448.00 to $478.00 and gave the company a “buy” rating in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $461.67.

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.