Fortrea (NASDAQ:FTRE) Issues Quarterly Earnings Results, Misses Expectations By $0.18 EPS

Fortrea (NASDAQ:FTRE - Get Free Report) released its quarterly earnings data on Monday. The company reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.18), RTT News reports. Fortrea had a negative net margin of 10.99% and a positive return on equity of 2.00%. The firm had revenue of $697.00 million during the quarter, compared to analysts' expectations of $703.22 million. During the same period in the previous year, the firm posted $0.19 EPS. Fortrea updated its FY 2025 guidance to EPS.

Fortrea Trading Down 1.8 %

Shares of NASDAQ FTRE traded down $0.20 during midday trading on Thursday, reaching $10.69. 3,712,274 shares of the stock were exchanged, compared to its average volume of 1,449,327. The stock has a market capitalization of $958.89 million, a P/E ratio of -3.13, a PEG ratio of 1.78 and a beta of 1.34. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.18. The company has a 50 day simple moving average of $16.50 and a 200 day simple moving average of $18.95. Fortrea has a twelve month low of $9.55 and a twelve month high of $41.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FTRE shares. The Goldman Sachs Group cut their price target on Fortrea from $22.00 to $11.00 and set a "neutral" rating for the company in a research note on Tuesday. Baird R W cut Fortrea from a "strong-buy" rating to a "hold" rating in a research report on Friday, December 6th. Citigroup lowered Fortrea from a "buy" rating to a "neutral" rating and decreased their target price for the company from $30.00 to $23.00 in a research report on Wednesday, December 11th. Robert W. Baird lowered shares of Fortrea from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $28.00 to $25.00 in a report on Friday, December 6th. Finally, William Blair restated a "market perform" rating on shares of Fortrea in a research report on Tuesday. One research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $20.30.

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Insider Activity at Fortrea

In other Fortrea news, CEO Thomas Pike sold 11,268 shares of Fortrea stock in a transaction on Monday, January 13th. The stock was sold at an average price of $18.04, for a total value of $203,274.72. Following the sale, the chief executive officer now owns 159,868 shares in the company, valued at $2,884,018.72. The trade was a 6.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 12,386 shares of company stock worth $219,751. Insiders own 0.12% of the company's stock.

About Fortrea

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.