Ferrari (RACE) to Release Quarterly Earnings on Thursday

Ferrari (NYSE:RACE - Get Free Report) is projected to issue its quarterly earnings data before the market opens on Thursday, February 6th. Analysts expect the company to announce earnings of $2.15 per share and revenue of $1.94 billion for the quarter. Ferrari has set its FY 2024 guidance at 8.680- EPS.Persons interested in listening to the company's earnings conference call can do so using this link.

Ferrari (NYSE:RACE - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $2.08 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.03). The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.80 billion. Ferrari had a net margin of 22.16% and a return on equity of 44.67%. The company's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.98 earnings per share. On average, analysts expect Ferrari to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Ferrari Price Performance

Shares of Ferrari stock traded up $3.35 during mid-day trading on Thursday, reaching $432.34. 474,009 shares of the stock were exchanged, compared to its average volume of 267,147. The company has a market cap of $105.38 billion, a price-to-earnings ratio of 50.21, a price-to-earnings-growth ratio of 3.70 and a beta of 0.95. Ferrari has a fifty-two week low of $345.92 and a fifty-two week high of $498.23. The company has a current ratio of 4.57, a quick ratio of 3.55 and a debt-to-equity ratio of 0.93. The firm has a 50-day simple moving average of $433.77 and a 200 day simple moving average of $448.48.

Analyst Ratings Changes

Several analysts have weighed in on the company. JPMorgan Chase & Co. raised Ferrari from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $385.00 to $525.00 in a report on Friday, October 11th. StockNews.com lowered Ferrari from a "buy" rating to a "hold" rating in a research report on Wednesday, October 16th. Evercore ISI upped their price objective on Ferrari from $475.00 to $565.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Finally, UBS Group increased their price target on shares of Ferrari from $478.00 to $513.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $507.14.

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.