Ferrari (RACE) Set to Announce Earnings on Tuesday

Ferrari (NYSE:RACE) will announce its earnings results before the market opens on Tuesday, November 5th. Analysts expect the company to announce earnings of $2.11 per share for the quarter. Ferrari has set its FY 2024 guidance at 8.510- EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Ferrari (NYSE:RACE) last announced its quarterly earnings results on Thursday, August 1st. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.63 billion. Ferrari had a net margin of 21.84% and a return on equity of 45.13%. The company’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.99 earnings per share. On average, analysts expect Ferrari to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Ferrari Stock Performance

Shares of NYSE:RACE opened at $490.37 on Tuesday. Ferrari has a 12 month low of $298.53 and a 12 month high of $498.23. The company has a quick ratio of 3.32, a current ratio of 4.35 and a debt-to-equity ratio of 1.01. The company has a 50 day moving average of $473.83 and a 200 day moving average of $438.33.

Analysts Set New Price Targets

RACE has been the topic of a number of recent analyst reports. Barclays upgraded Ferrari from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised Ferrari from a “neutral” rating to an “overweight” rating and raised their price target for the company from $385.00 to $525.00 in a report on Friday, October 11th. Evercore ISI lifted their price target on Ferrari from $475.00 to $565.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Morgan Stanley upped their price objective on shares of Ferrari from $400.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 27th. Finally, StockNews.com lowered shares of Ferrari from a “buy” rating to a “hold” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $502.14.

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.