Forterra Inc Forecasted to Post FY2019 Earnings of $0.04 Per Share (FRTA)

Forterra Inc (NASDAQ:FRTA) – Research analysts at Oppenheimer increased their FY2019 earnings estimates for shares of Forterra in a report released on Tuesday, November 6th. Oppenheimer analyst I. Zaffino now anticipates that the construction company will post earnings per share of $0.04 for the year, up from their previous forecast of $0.02. Oppenheimer has a “Buy” rating and a $13.00 price objective on the stock.

Forterra (NASDAQ:FRTA) last issued its quarterly earnings results on Tuesday, November 6th. The construction company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). Forterra had a negative return on equity of 23.36% and a net margin of 2.38%. The company had revenue of $434.51 million for the quarter, compared to the consensus estimate of $449.72 million. During the same period in the previous year, the business posted ($0.18) EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. BidaskClub cut shares of Forterra from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Citigroup raised their target price on shares of Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Zacks Investment Research cut shares of Forterra from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Barclays lifted their price target on Forterra from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Monday, August 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $10.47.

Shares of FRTA stock opened at $6.24 on Thursday. The company has a current ratio of 2.15, a quick ratio of 1.14 and a debt-to-equity ratio of 11.59. Forterra has a one year low of $4.39 and a one year high of $12.30. The stock has a market cap of $386.25 million, a PE ratio of -7.90 and a beta of 2.43.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FRTA. Janney Montgomery Scott LLC acquired a new position in shares of Forterra during the third quarter valued at approximately $249,000. Valeo Financial Advisors LLC increased its stake in shares of Forterra by 350.0% during the third quarter. Valeo Financial Advisors LLC now owns 45,000 shares of the construction company’s stock valued at $203,000 after acquiring an additional 35,000 shares during the period. Fox Run Management L.L.C. acquired a new position in shares of Forterra during the third quarter valued at approximately $145,000. Northern Trust Corp increased its stake in shares of Forterra by 4.2% during the second quarter. Northern Trust Corp now owns 188,157 shares of the construction company’s stock valued at $1,831,000 after acquiring an additional 7,592 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new position in shares of Forterra during the second quarter valued at approximately $487,000.

About Forterra

Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.

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Earnings History and Estimates for Forterra (NASDAQ:FRTA)

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