Ferrari (NYSE:RACE) Releases FY 2022 Earnings Guidance

Ferrari (NYSE:RACEGet Rating) updated its FY 2022 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $5.11-$5.33 for the period, compared to the consensus 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 equities analysts have weighed in on the company. StockNews.com raised Ferrari from a hold rating to a buy rating in a research report on Monday. Cheuvreux raised Ferrari from a reduce rating to a hold rating in a research report on Wednesday, June 8th. Citigroup lowered their price objective on Ferrari from €160.00 ($168.42) to €140.00 ($147.37) in a research report on Tuesday, May 31st. Credit Suisse Group reaffirmed a buy rating and issued a $285.00 price objective on shares of Ferrari in a research report on Friday, June 10th. Finally, Morgan Stanley lowered their price objective on Ferrari from $350.00 to $300.00 and set an overweight rating for the company in a research report on Tuesday, May 24th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ferrari presently has an average rating of Moderate Buy and an average target price of $249.90.

Ferrari stock traded up $1.61 during midday trading on Thursday, reaching $185.36. The stock had a trading volume of 19,271 shares, compared to its average volume of 471,353. Ferrari has a twelve month low of $167.45 and a twelve month high of $278.78. The stock has a market capitalization of $34.25 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 3.35 and a beta of 0.94. The company has a debt-to-equity ratio of 1.14, a quick ratio of 3.24 and a current ratio of 3.82. The stock’s 50-day simple moving average is $196.28 and its 200 day simple moving average is $218.59.

Ferrari (NYSE:RACEGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.19. The company had revenue of $1.33 billion for 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 4.89 earnings per share for the current fiscal year.

The business also recently disclosed an annual dividend, which was paid on Friday, May 6th. Shareholders of record on Wednesday, April 20th were paid a dividend of $1.362 per share. This represents a dividend yield of 0.66%. The ex-dividend date was Tuesday, April 19th.

Several institutional investors and hedge funds have recently modified their holdings of RACE. Compton Capital Management Inc. RI lifted its stake in shares of Ferrari by 16.7% during the first quarter. Compton Capital Management Inc. RI now owns 1,400 shares of the company’s stock worth $305,000 after purchasing an additional 200 shares in the last quarter. Private Advisor Group LLC increased its position 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 acquiring an additional 550 shares during the last quarter. KB Financial Partners LLC increased its position 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 acquiring an additional 287 shares during the last quarter. Cetera Investment Advisers increased its position 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 acquiring an additional 215 shares during the last quarter. Finally, Blair William & Co. IL increased its position 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 acquiring an additional 65 shares during the last quarter. Institutional investors own 38.36% of the company’s stock.

Ferrari Company Profile (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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