Ferrari (NYSE:RACE) through with its subsidiaries, designs, engineers, produces, and sells luxury performance sports cars and consumer goods.
The company offers sports, GT, and special series super cars, limited edition hyper supercars, Fuori series, 1-off, F1 and other track cars, and Icona cars.
It also provides non-registered racing cars; and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for its classic and vintage cars.
Ferrari last issued its quarterly earnings results on Monday, 4 November The company reported 0.90 EPS for the Quarter. Ferrari had a ROE of 51.17% and a net margin of 19.67%. The company had revenue of $915-M million for the Quarter, compared to analysts’ expectations of $890-M During the same frame last year, the company earned 0.77 EPS. Ferrari’s revenue for the Quarter was up 9.2% compared to the same Quarter last year.
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 Bullish to Very Bullish, there is no overhead resistance, and Key support is solid at 173.21, 4 of our Key indicators are Very Bullish, and the stock has established strong long term support ahead of this coming breakout North.
Ferrari broke out, and finished at 174.15, +0.21 Tuesday in NY.
Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have call it at it at 200+/share long term, adjusting it to 200/share short term and siding with BAML to 230 long term for now.