Fortrea (FTRE) to Release Earnings on Tuesday

Fortrea (NASDAQ:FTRE) will announce its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Fortrea (NASDAQ:FTRE) last announced its quarterly earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $775.40 million during the quarter, compared to the consensus estimate of $779.09 million. Fortrea’s revenue was up 1.8% compared to the same quarter last year. On average, analysts expect Fortrea to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortrea Stock Performance

Fortrea stock opened at $37.54 on Tuesday. Fortrea has a 12 month low of $24.92 and a 12 month high of $41.02. The stock’s 50 day simple moving average is $37.96 and its two-hundred day simple moving average is $33.76. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.62 and a current ratio of 1.62.

Analysts Set New Price Targets

Several analysts recently commented on FTRE shares. Barclays dropped their price target on shares of Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Jefferies Financial Group assumed coverage on Fortrea in a report on Thursday, January 4th. They issued a “buy” rating and a $44.00 price target for the company. William Blair began coverage on Fortrea in a report on Friday, January 5th. They issued a “market perform” rating on the stock. Robert W. Baird started coverage on Fortrea in a research report on Friday, March 22nd. They issued a “neutral” rating and a $43.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 target price on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.29.

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.