Research Analysts Offer Predictions for Ferguson plc’s FY2024 Earnings (NASDAQ:FERG)

Ferguson plc (NASDAQ:FERG – Get Rating) – Equities researchers at Jefferies Financial Group decreased their FY2024 earnings per share (EPS) estimates for shares of Ferguson in a note issued to investors on Monday, March 13th. Jefferies Financial Group analyst P. Woolf now anticipates that the company will earn $8.53 per share for the year, down from their previous estimate of $8.57. The consensus estimate for Ferguson’s current full-year earnings is $9.32 per share. Jefferies Financial Group also issued estimates for Ferguson’s FY2025 earnings at $9.01 EPS.

FERG has been the topic of a number of other research reports. Robert W. Baird increased their price objective on shares of Ferguson from $140.00 to $155.00 in a report on Wednesday, December 7th. Barclays raised their price target on shares of Ferguson from $148.00 to $159.00 in a report on Wednesday, December 14th. Bank of America downgraded Ferguson from a “buy” rating to a “neutral” rating in a report on Wednesday, January 11th. Truist Financial boosted their target price on Ferguson from $130.00 to $138.00 in a research report on Thursday, December 8th. Finally, TheStreet upgraded Ferguson from a “d+” rating to a “c-” rating in a report on Friday, November 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Ferguson currently has a consensus rating of “Hold” and a consensus price target of $8,448.82.

Ferguson Trading Down 3.9 %

Shares of Ferguson stock opened at $129.01 on Wednesday. Ferguson has a 12-month low of $99.16 and a 12-month high of $150.80. The company has a 50-day simple moving average of $141.48 and a 200 day simple moving average of $124.86. The company has a current ratio of 1.84, a quick ratio of 1.01 and a debt-to-equity ratio of 0.91.

Ferguson Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 5th. Investors of record on Friday, March 17th will be paid a dividend of $0.75 per share. This represents a yield of 2.5%. The ex-dividend date is Thursday, March 16th. Ferguson’s payout ratio is 30.43%.

Institutional Investors Weigh In On Ferguson

Several large investors have recently bought and sold shares of the company. Northern Trust Corp boosted its position in shares of Ferguson by 102.2% during the second quarter. Northern Trust Corp now owns 456,051 shares of the company’s stock worth $50,490,000 after purchasing an additional 230,467 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in Ferguson by 265.2% during the third quarter. Macquarie Group Ltd. now owns 48,831 shares of the company’s stock worth $5,026,000 after acquiring an additional 35,460 shares in the last quarter. Deutsche Bank AG grew its stake in Ferguson by 0.3% in the second quarter. Deutsche Bank AG now owns 884,096 shares of the company’s stock valued at $97,879,000 after acquiring an additional 2,979 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Ferguson by 17.0% in the third quarter. Advisors Asset Management Inc. now owns 1,511 shares of the company’s stock worth $156,000 after acquiring an additional 219 shares in the last quarter. Finally, Trian Fund Management L.P. raised its position in shares of Ferguson by 12.5% during the second quarter. Trian Fund Management L.P. now owns 12,826,611 shares of the company’s stock worth $1,420,034,000 after purchasing an additional 1,423,880 shares during the period. Institutional investors own 52.19% of the company’s stock.

About Ferguson

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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.