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Ferrari (RACE) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Ferrari (RACE - Free Report) closed at $297.19, marking a -0.54% move from the previous day. This change lagged the S&P 500's 0.14% gain on the day. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq added 0.09%.
Coming into today, shares of the luxury sports car maker had lost 5.07% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.7%, while the S&P 500 lost 1.27%.
Investors will be hoping for strength from Ferrari as it approaches its next earnings release. The company is expected to report EPS of $1.61, up 29.84% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.56 billion, up 23.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.05 per share and revenue of $6.35 billion, which would represent changes of +31.53% and +18.31%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Ferrari. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% higher. Ferrari currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Ferrari's current valuation metrics, including its Forward P/E ratio of 42.4. Its industry sports an average Forward P/E of 15.05, so we one might conclude that Ferrari is trading at a premium comparatively.
We can also see that RACE currently has a PEG ratio of 2.7. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. RACE's industry had an average PEG ratio of 0.74 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RACE in the coming trading sessions, be sure to utilize Zacks.com.
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Ferrari (RACE) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Ferrari (RACE - Free Report) closed at $297.19, marking a -0.54% move from the previous day. This change lagged the S&P 500's 0.14% gain on the day. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq added 0.09%.
Coming into today, shares of the luxury sports car maker had lost 5.07% in the past month. In that same time, the Auto-Tires-Trucks sector lost 2.7%, while the S&P 500 lost 1.27%.
Investors will be hoping for strength from Ferrari as it approaches its next earnings release. The company is expected to report EPS of $1.61, up 29.84% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.56 billion, up 23.93% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.05 per share and revenue of $6.35 billion, which would represent changes of +31.53% and +18.31%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Ferrari. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.25% higher. Ferrari currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Ferrari's current valuation metrics, including its Forward P/E ratio of 42.4. Its industry sports an average Forward P/E of 15.05, so we one might conclude that Ferrari is trading at a premium comparatively.
We can also see that RACE currently has a PEG ratio of 2.7. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. RACE's industry had an average PEG ratio of 0.74 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 96, putting it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow RACE in the coming trading sessions, be sure to utilize Zacks.com.