Ferrari’s (NYSE:RACE) Profit Soars, Declares Dividend

Ferrari’s (NYSE:RACE) Profit Soars, Declares Dividend

Ferrari’s (NYSE:RACE) Profit Soars, Declares Dividend

$RACE

Aristocrat automotive sector leader Ferrari (NYSE:RACE) said Thursday that its net profit rose 24% in Q-4 Y 2017, and that it declared a dividend for the year.

Net profit rose to $169.1-M (EUR 136-M) in the Quarter, up significantly from the same frame a year earlier, the iconic Italian car maker said.

Revenue increased to EUR 840-M, from EUR 836-M a year ago, it said.

Ferrari said it will pay a dividend of EUR 0.71/share, equivalent to a total payout of EUR 134-M.

Shares in the company gaped higher after the publication of its results.

The company expects Y 2018 revenue to rise to EUR 3.4-B and shipments to rise to more than 9,000 cars.

Adjusted earnings before interest, taxes, depreciation and amortization is forecast to be at least EUR 1.1-B this year, Ferrari said.

Symbol Last Trade Date Change Open High Low Volume
NYSE:RACE 128.27 1 February 2018 8.77 123.95 129.87 123.94 1,955,040
HeffX-LTN Analysis for RACE: Overall Short Intermediate Long
Bullish (0.46) Very Bullish (0.53) Bullish (0.35) Very Bullish (0.50)

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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