Ferrari (NYSE:RACE) Q-3 Y 2019 Earnings Preview


Ferrari (NYSE:RACE) is scheduled to announce Q-3 earnings results Monday, 4 November before the bell,

The consensus EPS Estimate is €0.86 (+11.7% ) Y-Y, and the consensus Revenue Estimate is €889.08M (+6.1% Y-Y).

Ferrari has surprised in the last 4 Quarters

Over the last 3 months, EPS estimates have seen no upward revisions and 3 downward. Revenue estimates have seen 3 upward revisions and 5 downward.

Have a look at the current Ferrari data

Ferrari is the Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Neutral to Bearish, overhead resistance is at N/A, and support at 155.30 as 3 of our 3 Key indicators have turned Very Bullish and the stock has established long term support.

Ferrari finished at 161.28, +1.26 Friday in NY.

Note: Goldman Sachs upgraded Ferrari to ‘buy‘ from ‘neutral ‘calling the stock’s pullback a good “entry point.” “We upgrade Ferrari from Neutral to Buy, offering 15% upside to our new price targets of 182. Our thesis, outlined in Life of Luxury published in September, is fundamentally unchanged post Ferrari’s in-line 2-Q results. We view the stock’s recent pullback since July 16 has provided good entry point in here.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term investment, and I see it at 200/share in that frame

Have a terrific week.