Ferrari (NYSE:RACE – Get Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share guidance of $5.11-$5.33 for the period, compared to the consensus earnings per share estimate of $4.75. The company issued revenue guidance of $5.39 billion-$5.39 billion, compared to the consensus revenue estimate of $4.78 billion. Ferrari also updated its FY 2026 guidance to $8.08-$8.98 EPS.
Several analysts have issued reports on RACE shares. Citigroup dropped their target price on Ferrari from €160.00 ($160.00) to €140.00 ($140.00) in a report on Tuesday, May 31st. Morgan Stanley decreased their target price on Ferrari from $350.00 to $300.00 and set an overweight rating on the stock in a research note on Tuesday, May 24th. StockNews.com raised Ferrari from a hold rating to a buy rating in a research note on Thursday. Exane BNP Paribas raised Ferrari from a neutral rating to an outperform rating and set a €255.00 ($255.00) target price on the stock in a research note on Tuesday, April 12th. Finally, UBS Group increased their target price on Ferrari from $260.00 to $263.00 and gave the stock a buy rating in a research note on Monday, April 4th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $240.36.
Ferrari stock opened at $191.12 on Thursday. Ferrari has a twelve month low of $167.45 and a twelve month high of $278.78. The stock has a 50 day moving average of $188.48 and a two-hundred day moving average of $211.50. The company has a current ratio of 3.82, a quick ratio of 3.24 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $35.31 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.52 and a beta of 0.93.
Ferrari (NYSE:RACE – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.26 by $0.19. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.17 billion. Ferrari had a return on equity of 40.26% and a net margin of 19.46%. Equities analysts predict that Ferrari will post 4.88 earnings per share for the current year.
Large investors have recently made changes to their positions in the company. Compton Capital Management Inc. RI grew its position in shares of Ferrari by 16.7% in the first quarter. Compton Capital Management Inc. RI now owns 1,400 shares of the company’s stock valued at $305,000 after purchasing an additional 200 shares during the period. Private Advisor Group LLC lifted its stake in shares of Ferrari by 54.8% during the first quarter. Private Advisor Group LLC now owns 1,553 shares of the company’s stock worth $339,000 after purchasing an additional 550 shares in the last quarter. KB Financial Partners LLC lifted its stake in shares of Ferrari by 20.1% during the first quarter. KB Financial Partners LLC now owns 1,718 shares of the company’s stock worth $375,000 after purchasing an additional 287 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of Ferrari by 9.2% during the first quarter. Cetera Investment Advisers now owns 2,556 shares of the company’s stock worth $565,000 after purchasing an additional 215 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Ferrari by 2.1% during the first quarter. Blair William & Co. IL now owns 3,112 shares of the company’s stock worth $679,000 after purchasing an additional 65 shares in the last quarter. 38.36% of the stock is owned by institutional investors and hedge funds.
About Ferrari (Get Rating)
Ferrari N.V., through its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hyper cars; one-off and track cars; and Icona cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
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