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Ferrari (RACE) Stock Moves -0.56%: What You Should Know
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In the latest trading session, Ferrari (RACE - Free Report) closed at $300.96, marking a -0.56% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.22%. At the same time, the Dow lost 0.83%, and the tech-heavy Nasdaq lost 1.56%.
Heading into today, shares of the luxury sports car maker had lost 1.09% over the past month, lagging the Auto-Tires-Trucks sector's gain of 8.24% and the S&P 500's gain of 0.54% in that time.
Wall Street will be looking for positivity from Ferrari as it approaches its next earnings report date. On that day, Ferrari is projected to report earnings of $1.61 per share, which would represent year-over-year growth of 29.84%. Our most recent consensus estimate is calling for quarterly revenue of $1.56 billion, up 23.93% from the year-ago period.
RACE's full-year Zacks Consensus Estimates are calling for earnings of $7.05 per share and revenue of $6.35 billion. These results would represent year-over-year changes of +31.53% and +18.31%, respectively.
It is also important to note the recent changes to analyst estimates for Ferrari. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Ferrari currently has a Forward P/E ratio of 42.95. Its industry sports an average Forward P/E of 14.85, so we one might conclude that Ferrari is trading at a premium comparatively.
Investors should also note that RACE has a PEG ratio of 2.73 right now. 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. The Automotive - Original Equipment was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Ferrari (RACE) Stock Moves -0.56%: What You Should Know
In the latest trading session, Ferrari (RACE - Free Report) closed at $300.96, marking a -0.56% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.22%. At the same time, the Dow lost 0.83%, and the tech-heavy Nasdaq lost 1.56%.
Heading into today, shares of the luxury sports car maker had lost 1.09% over the past month, lagging the Auto-Tires-Trucks sector's gain of 8.24% and the S&P 500's gain of 0.54% in that time.
Wall Street will be looking for positivity from Ferrari as it approaches its next earnings report date. On that day, Ferrari is projected to report earnings of $1.61 per share, which would represent year-over-year growth of 29.84%. Our most recent consensus estimate is calling for quarterly revenue of $1.56 billion, up 23.93% from the year-ago period.
RACE's full-year Zacks Consensus Estimates are calling for earnings of $7.05 per share and revenue of $6.35 billion. These results would represent year-over-year changes of +31.53% and +18.31%, respectively.
It is also important to note the recent changes to analyst estimates for Ferrari. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Ferrari currently has a Forward P/E ratio of 42.95. Its industry sports an average Forward P/E of 14.85, so we one might conclude that Ferrari is trading at a premium comparatively.
Investors should also note that RACE has a PEG ratio of 2.73 right now. 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. The Automotive - Original Equipment was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 108, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.