Ferrari (RACE) Set to Announce Quarterly Earnings on Tuesday

Ferrari (NYSE:RACE) is scheduled to be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $2.04 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Ferrari (NYSE:RACE) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.74 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.15. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Ferrari had a net margin of 21.06% and a return on equity of 43.84%. On average, analysts expect Ferrari to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Ferrari Trading Up 1.3 %

Ferrari stock opened at $430.29 on Friday. Ferrari has a twelve month low of $283.20 and a twelve month high of $442.80. The company has a current ratio of 3.91, a quick ratio of 2.98 and a debt-to-equity ratio of 0.81. The company has a 50 day moving average of $422.25 and a 200-day moving average of $374.93.

Ferrari Dividend Announcement

The business also recently declared an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were issued a $2.443 dividend. This represents a dividend yield of 0.62%. The ex-dividend date was Monday, April 22nd.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RACE shares. UBS Group boosted their price objective on shares of Ferrari from $413.00 to $448.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Barclays lowered shares of Ferrari from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 4th. StockNews.com raised shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a research report on Monday, March 4th. Finally, Evercore ISI boosted their price objective on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $413.86.

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.