Seaport Global Securities Comments on FORTERRA INC’s Q2 2017 Earnings (FRTA)

FORTERRA INC (NASDAQ:FRTA) – Stock analysts at Seaport Global Securities decreased their Q2 2017 earnings per share estimates for shares of FORTERRA INC in a research note issued to investors on Friday. Seaport Global Securities analyst R. Cassil now expects that the construction company will post earnings per share of $0.03 for the quarter, down from their prior forecast of $0.06. Seaport Global Securities currently has a “Buy” rating and a $23.00 target price on the stock. Seaport Global Securities also issued estimates for FORTERRA INC’s Q3 2017 earnings at $0.28 EPS, Q2 2018 earnings at $0.27 EPS, Q3 2018 earnings at $0.50 EPS, Q4 2018 earnings at $0.04 EPS and FY2018 earnings at $0.73 EPS.

FORTERRA INC (NASDAQ:FRTA) last posted its quarterly earnings data on Monday, May 15th. The construction company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.24. The firm had revenue of $338.30 million during the quarter, compared to the consensus estimate of $340.24 million.

ILLEGAL ACTIVITY WARNING: “Seaport Global Securities Comments on FORTERRA INC’s Q2 2017 Earnings (FRTA)” was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://sportsperspectives.com/2017/07/19/seaport-global-securities-comments-on-forterra-incs-q2-2017-earnings-frta.html.

FRTA has been the topic of several other research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $23.00 price objective on shares of FORTERRA INC in a report on Friday, March 24th. Citigroup Inc. increased their price target on FORTERRA INC from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, April 3rd. Zacks Investment Research downgraded FORTERRA INC from a “hold” rating to a “sell” rating in a research note on Thursday, June 1st. Barclays PLC reissued an “overweight” rating and issued a $18.00 price target (down previously from $23.00) on shares of FORTERRA INC in a research note on Wednesday, May 17th. Finally, ValuEngine raised FORTERRA INC from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. FORTERRA INC currently has an average rating of “Hold” and an average target price of $17.61.

Shares of FORTERRA INC (NASDAQ FRTA) opened at 8.36 on Monday. The company’s market cap is $536.19 million. The stock has a 50 day moving average price of $7.58 and a 200-day moving average price of $15.49. FORTERRA INC has a 1-year low of $6.01 and a 1-year high of $22.76.

A number of hedge funds have recently modified their holdings of FRTA. FMR LLC acquired a new stake in shares of FORTERRA INC during the first quarter valued at approximately $31,062,000. Sound Point Capital Management LP increased its stake in shares of FORTERRA INC by 40.9% in the first quarter. Sound Point Capital Management LP now owns 949,645 shares of the construction company’s stock valued at $18,518,000 after buying an additional 275,504 shares during the last quarter. State Street Corp acquired a new stake in shares of FORTERRA INC during the fourth quarter valued at approximately $4,959,000. Rubric Capital Management LP increased its stake in shares of FORTERRA INC by 102.7% in the first quarter. Rubric Capital Management LP now owns 405,484 shares of the construction company’s stock valued at $7,907,000 after buying an additional 205,484 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of FORTERRA INC by 328.6% in the first quarter. Goldman Sachs Group Inc. now owns 225,936 shares of the construction company’s stock valued at $4,406,000 after buying an additional 173,216 shares during the last quarter. 99.76% of the stock is currently owned by institutional investors and hedge funds.

About FORTERRA INC

Earnings History and Estimates for FORTERRA INC (NASDAQ:FRTA)

Receive News & Ratings for FORTERRA INC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FORTERRA INC and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply