Ferrari (RACE) Stock Moves -0.24%: What You Should Know
The most recent trading session ended with Ferrari (RACE) standing at $420.74, reflecting a -0.24% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a loss of 0.65% for the day. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq lost 1.16%.
The the stock of luxury sports car maker has risen by 9.5% in the past month, leading the Auto-Tires-Trucks sector's gain of 2.76% and the S&P 500's gain of 3.4%.
Analysts and investors alike will be keeping a close eye on the performance of Ferrari in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2, reflecting a 14.94% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.73 billion, up 13.08% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $8.31 per share and a revenue of $7.01 billion, signifying shifts of +11.24% and +8.59%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Ferrari. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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, there's been no change in the Zacks Consensus EPS estimate. Ferrari is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Ferrari's current valuation metrics, including its Forward P/E ratio of 50.75. This expresses a premium compared to the average Forward P/E of 13.1 of its industry.
We can additionally observe that RACE currently boasts a PEG ratio of 5.04. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Automotive - Original Equipment industry had an average PEG ratio of 0.86.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This group has a Zacks Industry Rank of 145, putting it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 N.V. (RACE) : Free Stock Analysis Report
