Forterra Inc (FRTA) to Post FY2018 Earnings of ($0.42) Per Share, Oppenheimer Forecasts

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.

Shares of FRTA opened at $5.46 on Friday. Forterra has a 1 year low of $4.39 and a 1 year high of $12.30. The company has a quick ratio of 1.14, a current ratio of 2.15 and a debt-to-equity ratio of 11.59. The stock has a market cap of $386.25 million, a PE ratio of -6.91 and a beta of 2.43.

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.

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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