168.70 0.00 (0.00%)
After hours: 4:31PM EDT
|Bid||168.92 x 900|
|Ask||172.19 x 1200|
|Day's Range||167.25 - 169.46|
|52 Week Range||93.85 - 170.54|
|Beta (3Y Monthly)||1.20|
|PE Ratio (TTM)||37.61|
|Earnings Date||Jan 31, 2018 - Feb 5, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||160.96|
The Rolls-Royce Cullinan was years in the works. It was a Rolls after all, and it needed to be special; not to mention boost sales globally, especially in the U.S.
Ferrari N.V. (NYSE/MTA: RACE) (“Ferrari” or the “Company”) announces that under the second tranche of the common share buyback program announced on 1 July 2019 (“Second.
Ferrari N.V. (NYSE/MTA: RACE) (Ferrari or the Company) hereby announces the final results of its invitation to eligible holders (subject to the offer restrictions referred to in the Tender Offer Memorandum (as defined below)) of the Company’s outstanding €700,000,000 0.250 per cent. Notes due 16 January 2021 (ISIN:XS1720053229) (the 2021 Notes), and the Company’s outstanding €500,000,000 1.500 per cent. Notes due 16 March 2023 (ISIN:XS1380394806) (the 2023 Notes and, together with the 2021 Notes, the Notes) to tender their Notes for purchase by the Company for cash (the Offers and each an Offer). The Offers were announced on 4 July 2019 and were made on the terms and subject to the conditions set out in the tender offer memorandum dated 4 July 2019 (the Tender Offer Memorandum).
Ferrari N.V. (NYSE/MTA: RACE) (Ferrari or the Company) hereby announces, on a non-binding basis, the indicative results of its invitation to eligible holders (subject to the offer restrictions referred to in the Tender Offer Memorandum (as defined below)) of the Company’s outstanding €700,000,000 0.250 per cent. Notes due 16 January 2021 (ISIN:XS1720053229) (the 2021 Notes), and the Company’s outstanding €500,000,000 1.500 per cent. Notes due 16 March 2023 (ISIN:XS1380394806) (the 2023 Notes and, together with the 2021 Notes, the Notes) to tender their Notes for purchase by the Company for cash (the Offers and each an Offer). The Company hereby announces its non-binding intention to accept for purchase valid tenders of the 2021 Notes pursuant to the relevant Offer for an indicative aggregate nominal amount of €200,000,000 and the 2023 Notes pursuant to the relevant Offer for an indicative aggregate nominal amount of €115,395,000.
(Bloomberg) -- After a share-price slump that’s wiped out close to half its value since a listing last October, Aston Martin Lagonda is hoping that the informal setting of the Goodwood motor-racing gala will help win over investors who thought they were buying into another Ferrari NV.The Festival of Speed, a four-day celebration of sports and high-performance autos held in parkland near England’s south coast, offers a chance to lay out the group’s strategy in a less formal manner than the usual results presentations and slide shows, and with a lineup of the company’s supercars to illustrate the point, Chief Executive Officer Andy Palmer said in an interview.“We have a number of important people in the financial community coming, including bankers and investors,” Palmer said, adding that the focus will be on explaining his so-called Second-Century Plan, which calls for a capital-intensive rollout of seven new models over seven years.Aston Martin is struggling to convince the market that it can match the success of Ferrari in making the leap from niche player to successful listed company as its stock languishes 45% below the price of last year’s initial public offering. While the group aims to double output to 14,000 autos by 2023, growth is effectively on hold until the DBX sport utility vehicle debuts next year.“The narrative of the plan, the DBX, de-risking and the luxury market is not a story you can tell through newspaper headlines, so we will take every opportunity, every touch point with investors,” Palmer said, adding that the task hasn’t been made any easier by the fact that the company is the first automaker to feature on Britain’s benchmark FTSE-100 index in 30 years.With its focus on sports and racing models, the Goodwood festival also provides a unique opportunity to showcase Aston Martin in an environment where its autos can demonstrate their prowess on the site’s famous hill-climb track.“It’s very useful to be able to deliver the narrative with props -- the actual cars on the track,” he said. “It’s better than a traditional motor show in that we can demonstrate the dynamic credentials of our cars.”Palmer said the share price decline doesn’t mean investors have lost confidence, and that the bulk of backers from the company’s listing remain. Shorting of the stock has diminished and the share price should begin to benefit, he said, especially as the DBX moves toward its sales debut next year.More Believers“When we IPO-ed people bought in at 19 pounds and most of those are still here,” he said. “Clearly the Second Century plan is ambitious and up to a point you either believe it or you don’t. But the closer we get to the DBX the greater the proportion of people who will believe.”Aston Martin was hit by its first new sell recommendation in eight months on June 20 as Panmure Gordon said the IPO had rewarded selling shareholders while leaving the company without the funds to match Ferrari. It gave the stock an 802 pence price target, 24% below the current level.Aston Martin, based in Gaydon, England, aims to build between 7,100 to 7,300 cars this year. Palmer said the second quarter has been much like the first, with earnings to be weighted toward the end of the year.The trade war between the U.S. and China has had no impact at all, the CEO said, with no evidence of the softness in sales in the Asia nation that has affected some producers in the premium and mass markets.Should clashes between the U.S. and European Union escalate into auto tariffs, ultra-luxury carmakers are likely to be equally hit, since all are European, Palmer said, so that subsequent price hikes wouldn’t favor any one company.Aston Martin is continuing to work on plans for coping with a no-deal Brexit, but Palmer said it gets only 17% of sales from mainland Europe and 25% from the U.K., giving it a comparative advantage over the likes of Ferrari if U.K.-EU tariffs were introduced. A collapse in the pound would also boost exports.The former Brexit deadline of March 29 provided a dry run for addressing supply-chain disruption, with parts imported through Portsmouth and Immingham as well as Dover, and stocks built up to five days of production from two or three. The extra inventory hasn’t been fully run down but will need building up if an un-negotiated split looks likely, Palmer said.To contact the reporter on this story: Christopher Jasper in Goodwood, England at email@example.comTo contact the editors responsible for this story: Anthony Palazzo at firstname.lastname@example.org, Andrew NoëlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Maranello, Italy 4 July 2019 - Ferrari N.V. (NYSE/MTA: RACE) (Ferrari or the Company) announces an invitation to eligible holders (subject to the offer restrictions referred to.
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The one-off Ferrari Modulo concept is not immune to such a fate, as the spaceship of a car recently caught on fire while out driving. In fact, it's certainly far more likely for an untested concept car to experience more issues than any kind of a production car that's gone through years of testing and development. This particular incident was documented on Twitter by Scuderia Cameron Glickenhaus.
General Electric, FedEx, Asbury, Vale and Ferrari highlighted as Zacks Bull and Bear of the Day
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Italian luxury carmaker Ferrari (RACE) continued to trade on a strong bullish note last week. In the week ended June 21, its stock rose by 6.1%, registering its highest weekly gains in the last 20 weeks. Ferrari is the only auto company that has ended all months of 2019 so far in the positive territory.
The Rolls-Royce Cullinan was years in the works. It's Rolls after all, and it needed to be special; not to mention boost sales globally, especially in the U.S.
The Ferrari SF90 is the newest foal in the Maranello stable, and Ferrari continues to parade it for the crowds. A new video shows how the plug-in hybrid's four powertrain modes work, controlled by buttons on the lower left side of the steering wheel.
If you've been looking to add some Ferrari F1 cars piloted by legendary drivers, this is your year. On top of Michael Schumacher's 2002 Ferrari F2002 going to auction by RM Sotheby's, Gooding & Co. just announced it will be selling a 1975 Ferrari 312T used by the late Niki Lauda to win that year's championship. The auction house also says this is the first time a Ferrari 312T has been offered at auction.
RM Sotheby's November auction in Abu Dhabi might still be months away, but Formula 1 just gave racing fans a huge reason to get excited for the event now. F1 and Sotheby's announced 10 early entries for the auction, and the most special of the bunch is the 2002 Ferrari F2002, Michael Schumacher's championship-winning racecar. Schumacher dominated the field throughout the 2002 F1 season by finishing first or second in every race.
We at Insider Monkey have gone over 738 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st. In this article, we look at what those funds think of Ferrari N.V. (NYSE:RACE) based on that data. […]