|Bid||209.71 x 800|
|Ask||209.87 x 800|
|Day's Range||207.95 - 211.19|
|52 Week Range||127.73 - 215.48|
|Beta (5Y Monthly)||0.93|
|PE Ratio (TTM)||46.56|
|Earnings Date||Jan 31, 2018 - Feb 05, 2018|
|Forward Dividend & Yield||1.23 (0.59%)|
|Ex-Dividend Date||Apr 20, 2020|
|1y Target Est||211.90|
Ferrari (NYSE: RACE) has crafted a story of prestige, wealth, and exclusivity around its iconic brand. Becoming a new Ferrari owner is difficult and almost always requires proof of prior ownership. In order to buy a new Ferrari, customers must demonstrate that they have owned at least one used Ferrari in the past.
Ferrari N.V. (NYSE: RACE) presented its new SF90 Spider model this past week.What Happened: The Italian luxury carmaker is releasing the convertible version of its SF90 Stradale hybrid, the second vehicle in its electrified model lineup, the company announced.The retractable hard top model includes an 8-cylinder combustion engine and three electic motors that combine to put out about 1,000 horsepower.Deliveries are expected to begin in the second quarter of 2021, with pricing starting at $559,000 (473,000 EUR).Enrico Galliera, chief marketing officer, said, "We consider the SF90 our range supercar, and we don't see any competitors on the market at the moment."The carmaker said it's getting back on track with a 30% jump in orders in October, compared with the first quarter of the year, Bloomberg has reported.Why It Matters: Electric and hybrid cars are attracting more and more attention as governments and people all over the globe are going green and introducing eco-friendly initiatives. The U.K., for instance, is expected to ban the sale of gasoline and diesel cars from 2030.Ferrari said its cars will not be fully electric until after 2025."For the time being we don't consider electric technology suitable for Ferrari's needs. It will be for sure in the future, but not now," Galliera said.Image: FerrariSee more from Benzinga * Click here for options trades from Benzinga * Diesel And Petrol Cars Will Be Banned In UK From 2030: Financial Times * NASA-SpaceX Launch Set For Sunday Night(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ferrari unveiled the SF90 Spider on Thursday, a convertible version of its SF90 Stradale hybrid and part of the Italian luxury carmaker's drive to make 60% of sales from hybrid technology by 2022. The new car will feature the same specifications as the 4WD SF90 Stradale released last year, with a 780 horse power 8-cylinder combustion engine integrated with two front-mounted electric motors adding an extra 220 horse power, plus a retractable hard top. One hundred kilos heavier than the Stradale, the Spider will cost 473,000 euros ($558,000) in Italy, outpricing the 430,000 euro Stradale at the top of Ferrari's price range for series-production cars.