FORTERRA INC to Post Q3 2017 Earnings of $0.02 Per Share, Oppenheimer Holdings Forecasts (FRTA)

FORTERRA INC (NASDAQ:FRTA) – Equities research analysts at Oppenheimer Holdings decreased their Q3 2017 earnings per share (EPS) estimates for shares of FORTERRA INC in a note issued to investors on Thursday. Oppenheimer Holdings analyst I. Zaffino now anticipates that the construction company will post earnings per share of $0.02 for the quarter, down from their previous forecast of $0.52. Oppenheimer Holdings also issued estimates for FORTERRA INC’s Q4 2017 earnings at ($0.16) EPS and FY2018 earnings at $0.21 EPS.

FORTERRA INC (NASDAQ:FRTA) last announced its quarterly earnings results on Thursday, August 10th. The construction company reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The company had revenue of $436.69 million during the quarter, compared to analyst estimates of $449.68 million. FORTERRA INC had a negative net margin of 4.72% and a negative return on equity of 45.03%. WARNING: “FORTERRA INC to Post Q3 2017 Earnings of $0.02 Per Share, Oppenheimer Holdings Forecasts (FRTA)” was reported by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://sportsperspectives.com/2017/08/16/forterra-inc-to-post-q3-2017-earnings-of-0-02-per-share-oppenheimer-holdings-forecasts-frta.html.

A number of other research firms have also commented on FRTA. ValuEngine upgraded FORTERRA INC from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research upgraded FORTERRA INC from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Seaport Global Securities restated a “buy” rating and set a $23.00 price objective on shares of FORTERRA INC in a research note on Friday, April 28th. Royal Bank Of Canada lowered their price objective on FORTERRA INC from $16.00 to $10.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 27th. Finally, Citigroup Inc. lowered their price objective on FORTERRA INC from $17.00 to $8.50 and set a “neutral” rating on the stock in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $15.56.

FORTERRA INC (NASDAQ FRTA) opened at 4.90 on Monday. FORTERRA INC has a 1-year low of $3.19 and a 1-year high of $22.76. The firm has a 50-day moving average price of $8.09 and a 200-day moving average price of $13.83. The firm’s market cap is $314.41 million.

In other FORTERRA INC news, CFO William Matthew Brown bought 22,200 shares of FORTERRA INC stock in a transaction on Monday, August 14th. The shares were purchased at an average price of $4.80 per share, with a total value of $106,560.00. Following the acquisition, the chief financial officer now owns 47,501 shares in the company, valued at approximately $228,004.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Large investors have recently modified their holdings of the stock. Voya Investment Management LLC acquired a new stake in shares of FORTERRA INC during the second quarter worth $104,000. Manchester Capital Management LLC acquired a new stake in shares of FORTERRA INC during the first quarter worth $133,000. Credit Agricole S A acquired a new stake in shares of FORTERRA INC during the first quarter worth $139,000. Rhumbline Advisers increased its stake in shares of FORTERRA INC by 28.7% in the second quarter. Rhumbline Advisers now owns 19,598 shares of the construction company’s stock worth $161,000 after buying an additional 4,365 shares in the last quarter. Finally, American International Group Inc. acquired a new stake in shares of FORTERRA INC during the first quarter worth $217,000. 98.56% of the stock is currently owned by hedge funds and other institutional investors.

About FORTERRA INC

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

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