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FERRARI’s (NYSE:RACE) PERIODIC REPORT ON THE BUYBACK PROGRAM WITH Q-3 EARNINGS PREVIEW

#Ferrari #stock #buyback #program

$RACE

“To find a multi-bagger stock, I look for a trend of growing return on capital employed (ROCE) and an expanding base of capital employed. When I see this, it means it is a company with a great business model and lots of profitable reinvestment opportunities. So when I look at the ROCE trend of Ferrari I like what I see” –Paul Ebeling

Earnings Preview

FERRARI: The luxury supercar maker to report earnings of 1.19/share in Q-3 representing a 30% increase from 0.92/share a yr earlier.

The Iconic Italian company will post revenue growth of over 21% to $1.3-B A live audio webcast and conference call of the 2021 Q-3 results will begin at 2:00p GMT / 3:00p CET / 10:00a EDT Tuesday, 2 November.

Maranello (Italy), October 29, 2021 – Ferrari NV (NYSE:RACE) informs that the Company has purchased, under the 5th tranche of the common share buyback program announced on October 4, 2021 additional common shares – reported in aggregate form, on a daily basis on the Italian Stock Exchange (MTA) as follows:



Trading
Date
(dd/mm/yyyy)


Stock Exchange


Number of common shares purchased


Average price per share
excluding fees
(€)


Consideration excluding fees



(€)
26/10/2021MTA4,476201.2929900,987.10
27/10/2021MTA8,139199.15141,620,893.40
28/10/2021MTA1,956200.3857391,954.50


Total


14,571199.97502,913,835.00

Since the announcement of the Fifth Tranche of the buyback program dated October 4, 2021 till October 28, 2021, the total invested consideration has been:

  • Euro 20,918,580.00 for No. 111,495 common shares purchased on the MTA.

As of October 28, 2021, the Company held in treasury No. 9,884,398 common shares equal to 3.84% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.-

Since January 1, 2019 until October 28, 2021, the Company has purchased a total of 4,699,072 own common shares on MTA and NYSE for a total consideration of Euro 674,340,282.24.

A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (http://corporate.ferrari.com/en/investors/stock-and-shareholder-corner/buyback-programs).

Attachment

Disclaimer: Ferrari published this content on 29 October 2021 and is solely responsible for the information contained therein; distributed unedited and unaltered

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

Our overall technical outlook is still Bullish, a Key indicators are Bullish long-term. Ferrari reported strong earnings for Q-3 on 3 November and did the same for Q-4 and F-Y 2020 as reported on 2 February.

Ferrari finished Friday at 237.17 within its 52 wk range of 127.73 – 238.00 in NY. It’s all time high..

Key technical indicators have turned Very Bullish across the board. The candlestick pattern indicated the confirmation of the break out at 196.01 on 3 November and confirmed.

The Key support is at 234.53and the resistance is None. All of our Key technical indicators are Very Bullish now.

Friday, Morgan Stanley called out $RACE a “sleeper” EV play as the firm can justify more than 100% of the company’s value with its ICE business.

Note: At the beginning of Y 2020 I called RACE at 230 by year’s end, the stock was trading at 165.22 on 1 January 2020, on 29 December 2020 it marked 233.66 intraday, its all time high

The Maranello Outfit’s shares were raised to Buy from Hold at HSBC, and Buys at Morgan Stanley and Bank of America.

UBS is now calling the stock at 365. I have not seen any other Street downgrades.

Ferrari will continue to create value in the long term as it becomes the world’s 1st Super Luxury brand.

Ferrari is a quality 1st long term luxury products investment, BAML raised its call to 270 long term.

I have raised my long term target to 375, a Strong Bull call, the strongest on the Street and am holding the mark during this recent profit taking, and seeing RACE as a buying opportunity.

Ferrari has an average rating of Buy and a consensus target price at 186.31.

The Maranello Outfit’s shares were raised downgraded from Buy to Hold at HSBC.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I am calling it 375 long term, the Top on the Street, and adjusting it to 250/share short term.

A number of large investors have recently bought shares of RACE, and there have been very few instances of insider selling over the past yr that we have seen. And Ferrari continues to buy back its stock in here.

The stock is considered defensive in the sector.

Have a prosperous week, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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