Forterra Inc (NASDAQ:FRTA) – Equities research analysts at Oppenheimer decreased their FY2018 EPS estimates for shares of Forterra in a research note issued on Tuesday, November 6th. Oppenheimer analyst I. Zaffino now anticipates that the construction company will earn ($0.42) per share for the year, down from their previous forecast of ($0.36). Oppenheimer has a “Buy” rating and a $13.00 price target on the stock. Oppenheimer also issued estimates for Forterra’s Q4 2018 earnings at ($0.24) EPS.
FRTA has been the subject of a number of other reports. BidaskClub downgraded Forterra from a “hold” rating to a “sell” rating in a research report on Thursday, September 13th. Citigroup raised their price objective on Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Zacks Investment Research downgraded Forterra from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Barclays set a $9.00 price objective on Forterra and gave the stock a “hold” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $10.47.
Forterra (NASDAQ:FRTA) last issued its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ 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 quarter last year, the business earned ($0.18) earnings per share. Forterra’s revenue was down 2.2% compared to the same quarter last year.
Several institutional investors and hedge funds have recently modified their holdings of FRTA. BlueMountain Capital Management LLC acquired a new stake in Forterra during the second quarter worth approximately $102,000. Jane Street Group LLC acquired a new stake in Forterra during the first quarter worth approximately $100,000. Barclays PLC grew its stake in Forterra by 415.1% during the first quarter. Barclays PLC now owns 15,252 shares of the construction company’s stock worth $128,000 after purchasing an additional 12,291 shares during the period. Fox Run Management L.L.C. acquired a new stake in Forterra during the third quarter worth approximately $145,000. Finally, Capital Fund Management S.A. acquired a new stake in Forterra during the second quarter worth approximately $258,000.
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.
See Also: What is the NASDAQ?
Receive News & Ratings for Forterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra and related companies with MarketBeat.com's FREE daily email newsletter.