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Ferrari (RACE) Outperforms Broader Market: What You Need to Know
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Ferrari (RACE - Free Report) closed the most recent trading day at $305.40, moving +1.82% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 1.18%. Elsewhere, the Dow saw an upswing of 0.87%, while the tech-heavy Nasdaq appreciated by 1.6%.
Heading into today, shares of the luxury sports car maker had gained 0.39% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.77% and the S&P 500's loss of 5.17% in that time.
Market participants will be closely following the financial results of Ferrari in its upcoming release. The company plans to announce its earnings on November 2, 2023. In that report, analysts expect Ferrari to post earnings of $1.64 per share. This would mark year-over-year growth of 32.26%. At the same time, our most recent consensus estimate is projecting a revenue of $1.55 billion, reflecting a 23.41% rise from the equivalent quarter last year.
RACE's full-year Zacks Consensus Estimates are calling for earnings of $7.01 per share and revenue of $6.28 billion. These results would represent year-over-year changes of +30.78% and +17.1%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ferrari. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.6% lower. As of now, Ferrari holds a Zacks Rank of #3 (Hold).
Investors should also note Ferrari's current valuation metrics, including its Forward P/E ratio of 42.82. This denotes a premium relative to the industry's average Forward P/E of 13.09.
It is also worth noting that RACE currently has a PEG ratio of 2.72. 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 0.69 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 152, this industry ranks in the bottom 40% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Ferrari (RACE) Outperforms Broader Market: What You Need to Know
Ferrari (RACE - Free Report) closed the most recent trading day at $305.40, moving +1.82% from the previous trading session. The stock's performance was ahead of the S&P 500's daily gain of 1.18%. Elsewhere, the Dow saw an upswing of 0.87%, while the tech-heavy Nasdaq appreciated by 1.6%.
Heading into today, shares of the luxury sports car maker had gained 0.39% over the past month, outpacing the Auto-Tires-Trucks sector's loss of 1.77% and the S&P 500's loss of 5.17% in that time.
Market participants will be closely following the financial results of Ferrari in its upcoming release. The company plans to announce its earnings on November 2, 2023. In that report, analysts expect Ferrari to post earnings of $1.64 per share. This would mark year-over-year growth of 32.26%. At the same time, our most recent consensus estimate is projecting a revenue of $1.55 billion, reflecting a 23.41% rise from the equivalent quarter last year.
RACE's full-year Zacks Consensus Estimates are calling for earnings of $7.01 per share and revenue of $6.28 billion. These results would represent year-over-year changes of +30.78% and +17.1%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ferrari. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.6% lower. As of now, Ferrari holds a Zacks Rank of #3 (Hold).
Investors should also note Ferrari's current valuation metrics, including its Forward P/E ratio of 42.82. This denotes a premium relative to the industry's average Forward P/E of 13.09.
It is also worth noting that RACE currently has a PEG ratio of 2.72. 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 0.69 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. With its current Zacks Industry Rank of 152, this industry ranks in the bottom 40% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.