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Ferrari (RACE) Stock Moves -0.53%: What You Should Know
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Ferrari (RACE - Free Report) ended the recent trading session at $299.31, demonstrating a -0.53% swing from the preceding day's closing price. This change was narrower than the S&P 500's 1.43% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 2.43%.
Shares of the luxury sports car maker have appreciated by 5.31% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 7.32% and the S&P 500's loss of 1.55%.
The investment community will be paying close attention to the earnings performance of Ferrari in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. On that day, Ferrari is projected to report earnings of $1.60 per share, which would represent year-over-year growth of 29.03%. Our most recent consensus estimate is calling for quarterly revenue of $1.55 billion, up 23.41% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.85 per share and a revenue of $6.28 billion, signifying shifts of +27.8% and +17.1%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Ferrari. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.84% downward. Ferrari presently features a Zacks Rank of #4 (Sell).
Digging into valuation, Ferrari currently has a Forward P/E ratio of 43.94. This indicates a premium in contrast to its industry's Forward P/E of 12.82.
We can additionally observe that RACE currently boasts a PEG ratio of 2.8. 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 average PEG ratio for the Automotive - Original Equipment industry stood at 0.65 at the close of the market yesterday.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Ferrari (RACE) Stock Moves -0.53%: What You Should Know
Ferrari (RACE - Free Report) ended the recent trading session at $299.31, demonstrating a -0.53% swing from the preceding day's closing price. This change was narrower than the S&P 500's 1.43% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 2.43%.
Shares of the luxury sports car maker have appreciated by 5.31% over the course of the past month, outperforming the Auto-Tires-Trucks sector's loss of 7.32% and the S&P 500's loss of 1.55%.
The investment community will be paying close attention to the earnings performance of Ferrari in its upcoming release. The company is slated to reveal its earnings on November 2, 2023. On that day, Ferrari is projected to report earnings of $1.60 per share, which would represent year-over-year growth of 29.03%. Our most recent consensus estimate is calling for quarterly revenue of $1.55 billion, up 23.41% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $6.85 per share and a revenue of $6.28 billion, signifying shifts of +27.8% and +17.1%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Ferrari. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.84% downward. Ferrari presently features a Zacks Rank of #4 (Sell).
Digging into valuation, Ferrari currently has a Forward P/E ratio of 43.94. This indicates a premium in contrast to its industry's Forward P/E of 12.82.
We can additionally observe that RACE currently boasts a PEG ratio of 2.8. 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 average PEG ratio for the Automotive - Original Equipment industry stood at 0.65 at the close of the market yesterday.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% of all 250+ industries.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.