Ferguson (NASDAQ:FERG) Releases Earnings Results, Beats Estimates By $0.12 EPS

Ferguson (NASDAQ:FERG) released its earnings results on Tuesday. The company reported $2.98 EPS for the quarter, beating the consensus estimate of $2.86 by $0.12, Briefing.com reports. Ferguson had a return on equity of 36.89% and a net margin of 6.33%. The company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period last year, the firm earned $2.77 EPS. The business’s revenue for the quarter was up 1.4% on a year-over-year basis.

Ferguson Stock Up 5.0 %

Ferguson stock opened at $207.09 on Wednesday. Ferguson has a twelve month low of $147.62 and a twelve month high of $225.63. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $204.35 and a 200-day moving average of $206.95. The stock has a market capitalization of $41.82 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Royal Bank of Canada cut their price target on Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 5th. Finally, Barclays decreased their price objective on Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Ferguson has a consensus rating of “Moderate Buy” and a consensus target price of $230.00.

Ferguson declared that its Board of Directors has authorized a share buyback plan on Tuesday, June 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Ferguson Company Profile

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.