Ferrari (NYSE:RACE – Get Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $5.12-$5.22 for the period. The company issued revenue guidance of $5.22 billion-$5.22 billion, compared to the consensus revenue estimate of $4.80 billion. Ferrari also updated its FY22 guidance to $4.80-4.90 EPS.
Ferrari Trading Down 1.0 %
Shares of NYSE RACE traded down $2.05 during trading on Tuesday, hitting $211.16. 15,099 shares of the company were exchanged, compared to its average volume of 342,279. Ferrari has a 12-month low of $167.45 and a 12-month high of $278.78. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.24 and a current ratio of 3.82. The company has a fifty day moving average price of $190.90 and a 200-day moving average price of $205.62. The firm has a market capitalization of $39.01 billion, a PE ratio of 39.12, a P/E/G ratio of 3.91 and a beta of 0.95.
Ferrari (NYSE:RACE – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.26 by $0.19. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.17 billion. Ferrari had a return on equity of 40.26% and a net margin of 19.46%. As a group, equities research analysts expect that Ferrari will post 4.79 EPS for the current year.
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A number of equities analysts have recently commented on RACE shares. Sanford C. Bernstein started coverage on Ferrari in a research report on Tuesday, July 19th. They set a market perform rating for the company. Citigroup reduced their price objective on Ferrari from €160.00 ($164.95) to €140.00 ($144.33) in a research note on Tuesday, May 31st. JPMorgan Chase & Co. cut their price target on Ferrari from $230.00 to $210.00 in a research note on Monday, April 25th. UBS Group upped their price target on Ferrari from $260.00 to $263.00 and gave the stock a buy rating in a research note on Monday, April 4th. Finally, Cheuvreux raised Ferrari from a reduce rating to a hold rating in a report on Wednesday, June 8th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $236.30.
Institutional Trading of Ferrari
Several large investors have recently bought and sold shares of the company. Compton Capital Management Inc. RI boosted its stake in shares of Ferrari by 16.7% during the first quarter. Compton Capital Management Inc. RI now owns 1,400 shares of the company’s stock valued at $305,000 after acquiring an additional 200 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Ferrari by 54.8% during the first quarter. Private Advisor Group LLC now owns 1,553 shares of the company’s stock valued at $339,000 after acquiring an additional 550 shares during the last quarter. KB Financial Partners LLC boosted its stake in shares of Ferrari by 20.1% during the first quarter. KB Financial Partners LLC now owns 1,718 shares of the company’s stock valued at $375,000 after acquiring an additional 287 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Ferrari by 9.2% during the first quarter. Cetera Investment Advisers now owns 2,556 shares of the company’s stock valued at $565,000 after acquiring an additional 215 shares during the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of Ferrari by 2.1% during the first quarter. Blair William & Co. IL now owns 3,112 shares of the company’s stock valued at $679,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 38.36% of the company’s stock.
About Ferrari
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
Further Reading
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