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