Ferrari (RACE) Set to Announce Quarterly Earnings on Tuesday

Ferrari (NYSE:RACE) will 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 interested in registering for the company’s conference call can do so using this link.

Ferrari (NYSE:RACE) last announced its 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 the consensus estimate of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. On average, analysts expect Ferrari to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Ferrari Stock Up 1.3 %

Shares of Ferrari stock opened at $430.29 on Friday. The business has a 50-day moving average of $422.25 and a 200-day moving average of $374.93. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. Ferrari has a 1-year low of $283.20 and a 1-year high of $442.80.

Ferrari Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently commented on RACE. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Morgan Stanley reissued an “overweight” rating and issued a $400.00 target price on shares of Ferrari in a report on Monday, April 22nd. Evercore ISI raised their target price on shares of Ferrari from $430.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, April 22nd. Bank of America raised their target price on shares of Ferrari from $458.00 to $512.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Sanford C. Bernstein raised their target price on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $413.86.

About Ferrari

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.