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Tuesday, December 7, 2021

Ferrari (NYSE:RACE) Reports Next Week, Expect Earnings Growth


Ferrari (NYSE:RACE) is expected to deliver a Y-Y increase in earnings on higher revenues when it reports results for the Quarter ended September 2019.

The stock may move higher if these Key numbers top expectations in the upcoming earnings report, which is expected to be released on 4 November, if they miss, the stock may move lower.

This iconic Italian luxury sports car maker is expected to post Quarterly EPS of 0.93 in its upcoming report, which represents a Y-Y change of +3.3%.

Revenues are expected to be $997.76-M, up 2.4% from the year-ago Quarter.

Analysts often consider to what extent a company has been able to match consensus estimates in the past, while calculating their estimates for its future earnings.

So, it’s worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported Quarter, it was expected that Ferrari would post earnings of 1.03/share when it actually produced earnings of 1.09, delivering a surprise of +5.83%.

Over the last 4 Quarters, the company has beaten consensus EPS estimates 4X.

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 160.35, and support at 155.07 as 2 of our 3 Key indicators have turned Very Bullish and the stock has established long term support.

Ferrari finished at 157.45 +1.36 Monday 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 last month, 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

Tune and enjoy the F1 racing at Austin Tx this weekend.

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