Ferrari (NYSE:RACE) Reports Earnings on 2 August

Ferrari (NYSE:RACE) Reports Earnings on 2 August

Ferrari (NYSE:RACE) Reports Earnings on 2 August


Ferrari (NYSE:RACE) reports Q-2 Y 2017 results before the open Wednesday, 2 August.

Last Quarter, the company delivered a positive earnings of 30.19%. It also Beat the Street estimates in each of the trailing 4 Quarters, with an average beat of 31.16%.

Looking at what’s coming Wednesday from the iconic Italian Supercar maker.

Ferrari is a former unit of Fiat Chrysler Automobiles (NYSE:FCAU), has diversified its revenue sources and generates majority of the same from selling luxury Supercars, engines and Ferrari branded merchandise.

The company also owns The Scuderia the winningest F1 racing team in history, as well as Ferrari World theme parks.

Notably, Sunday Ferrari’s Sebastian Vettel drove to victory Sunday at the Hungarian Grand Prix, extending his advantage at the Top of the F1 driver standings. His team mate Kimi Raikkonen finished 2nd.

The race highlights

Earnings Whispers

No one is The Street is predicting, as Ferrari has a history of surprises

The latest data

According to the latest data compiled by Reuters, 56.0% of analysts covering Ferrari stock have given it a “‘buy” recommendation. About 22.0% have recommended a “hold,” and the remaining 22.0% see the stock underperforming the broader market and have given it a “sell.”

I am maintaining a positive view on Ferrari stock because of its solid performance in Europe and North America in the past year, along with its program to further develop its markets in China and Asia.

Note: the company’s profitability has improved significantly in the last few Quarters, adding optimism to its future growth estimates.

As of 25 July 2017, Ferrari’s consensus 12-month target price was 79.59. However, its market price of 101.62 was already 22.0% higher than its target price on that date.

Stock Price Performance

Ferrari’s stock has run up 70.3% in the last 6 months, greatly outperforming the 11.4% gainer of the industry  it belongs to, Ferrari and Fiat Chrysler are the best performing companies in the automotive sector world wide.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 105.09 31 July 2017 -0.68 105.72 106.01 103.97 700,521
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.35) Neutral (0.08) Very Bullish (0.50) Bullish (0.46)

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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