Ferrari (RACE) To Go Ex-Dividend on April 22nd

Ferrari (NYSE:RACE) declared an annual dividend on Saturday, April 13th, investing.com reports. Investors of record on Tuesday, April 23rd will be paid a dividend of 2.443 per share on Friday, May 3rd. This represents a yield of 0.62%. The ex-dividend date is Monday, April 22nd.

Ferrari has increased its dividend by an average of 17.4% per year over the last three years and has increased its dividend annually for the last 3 consecutive years.

Ferrari Price Performance

Shares of NYSE:RACE opened at $408.65 on Friday. The business has a 50-day moving average price of $416.97 and a 200-day moving average price of $366.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.98 and a current ratio of 3.91. Ferrari has a 52-week low of $272.70 and a 52-week high of $442.80.

Ferrari (NYSE:RACE) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.59 by $0.15. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Ferrari had a return on equity of 43.84% and a net margin of 21.06%. As a group, equities research analysts predict that Ferrari will post 8.31 earnings per share for the current year.

Hedge Funds Weigh In On Ferrari

Institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd raised its holdings in shares of Ferrari by 5.2% during the 4th quarter. FIL Ltd now owns 280,595 shares of the company’s stock worth $94,553,000 after acquiring an additional 13,769 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Ferrari by 759.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 63,986 shares of the company’s stock worth $21,563,000 after purchasing an additional 56,542 shares during the period. GTS Securities LLC acquired a new position in Ferrari in the 4th quarter valued at about $652,000. Mercer Global Advisors Inc. ADV grew its stake in shares of Ferrari by 298.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,477 shares of the company’s stock valued at $1,854,000 after buying an additional 4,103 shares during the period. Finally, Morse Asset Management Inc increased its holdings in shares of Ferrari by 13.4% during the 4th quarter. Morse Asset Management Inc now owns 3,129 shares of the company’s stock worth $1,059,000 after buying an additional 369 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently issued reports on RACE. Citigroup lowered shares of Ferrari from a “neutral” rating to a “sell” rating in a research note on Monday, March 4th. Barclays downgraded Ferrari from an “overweight” rating to an “equal weight” rating in a research note on Thursday, April 4th. Bank of America lifted their price target on shares of Ferrari from $458.00 to $512.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. StockNews.com upgraded shares of Ferrari from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Sanford C. Bernstein upped their price target on shares of Ferrari from $448.00 to $512.00 and gave the stock an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $393.86.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.