Ferrari N.V. (NYSE:RACE) is expected to report third quarter earnings results, before market open, on Tuesday 3rd November 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.98 per share.
Looking ahead, the full year income are expected at $ 3.22 per share on the revenues of $ 4018.87 million.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 3,750.00 million ~ $ 3,971.00 million, where as bottomline are predicted in a range of $ 2.86 ~ $ 3.08 per share
Click Here For More Historical Outlooks Of Ferrari N.V.
Previous Quarter Performance
Ferrari N.V. posted income for the second quarter of $ 0.04 per share, from the revenue of $ 628.84 million. The quarterly earnings dropped 96.23 percent while revenues shrunk 40.44 percent compared with the same quarter last year.
The consensus estimates are income of $ 0.10 per share from $ 696.72 million in revenue. The bottom line results missed street analysts by $ 0.06 or 60 percent, at the same time, top line results fell short of analysts by $ 67.88 million or 9.74 percent.
Stock Performance
Shares of Ferrari N.V. traded up $ 4.76 or 2.67 percent on Monday, reaching $ 183.18 with volume of 336.80 thousand shares. Ferrari N.V. has traded high as $ 183.78 and has cracked $ 180.69 on the downward trend
The closing price of $ 183.18, representing a 39.69 % increase from the 52 week low of $ 127.73 and a 10.78 % decrease over the 52 week high of $ 199.97.
The company has a market capital of $ 45.70 billion and is part of the Consumer Cyclical sector and Auto Manufacturers industry.
Recent Analyst recommendations
- On 15th October 2020, maintained by Bank of America at Buy rating, with $ 265.00 target price.
- On 14th October 2020, maintained by UBS Group at Buy rating, with $ 212.00 target price.
- On 8th September 2020, initiated by Bernstein at Underperform rating.
Conference Call
Ferrari N.V. will be hosting a conference call at 9:00 AM eastern time on 3rd November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.ferrari.com
Ferrari N.V., through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars. The company offers sports, GT, and special series cars; limited edition hypercars; Fuori series, one-off, and track cars; and Icona cars. It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars.
