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

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

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

$RACE

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.

Net profit rose to $169.1-M (EUR 136-M) in the Quarter, up significantly from the same frame a year earlier, the iconic Italian car maker said.

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.

Symbol Last Trade Date Change Open High Low Volume
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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