Ferrari (NYSE:RACE) – Stock analysts at Jefferies Group issued their FY2022 earnings per share (EPS) estimates for Ferrari in a research note issued to investors on Monday. Jefferies Group analyst P. Houchois anticipates that the company will post earnings of $7.54 per share for the year. Jefferies Group currently has a “Buy” rating and a $130.00 price target on the stock.
Several other equities analysts have also issued reports on the company. BidaskClub lowered Ferrari from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research lowered Ferrari from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. HSBC initiated coverage on Ferrari in a research report on Monday, December 11th. They set a “hold” rating on the stock. Finally, TheStreet upgraded Ferrari from a “c” rating to a “b-” rating in a research report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $117.86.
Ferrari (NYSE:RACE) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.03). Ferrari had a return on equity of 98.82% and a net margin of 15.74%. The company had revenue of $840.00 million for the quarter, compared to the consensus estimate of $869.74 million. During the same quarter in the previous year, the business earned $0.69 earnings per share. Ferrari’s revenue was up .5% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC grew its position in shares of Ferrari by 554.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,060 shares of the company’s stock worth $117,000 after buying an additional 898 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Ferrari in the 4th quarter valued at approximately $116,000. Cerebellum GP LLC purchased a new position in shares of Ferrari in the 4th quarter valued at approximately $125,000. Cornerstone Advisors Inc. lifted its stake in shares of Ferrari by 678.6% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,526 shares of the company’s stock valued at $169,000 after purchasing an additional 1,330 shares during the period. Finally, IFP Advisors Inc lifted its stake in shares of Ferrari by 90.9% in the 3rd quarter. IFP Advisors Inc now owns 1,569 shares of the company’s stock valued at $173,000 after purchasing an additional 747 shares during the period. Hedge funds and other institutional investors own 31.86% of the company’s stock.
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Ferrari Company Profile
Ferrari NV, known as New Business Netherlands NV, is an Italy-based company, incorporated in the Netherlands, that is engaged in designing, manufacturing and selling sports cars under the Ferrari brand. Its products include nine sports car models, including seven sports cars: 458 Italia, 488 GTB, 458 Spider, 488 Spider, F12 Berlinetta, 458 Speciale and 458 Speciale A; as well as two grand tourer (GT) cars: California T and FF.
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