Forterra Inc (NASDAQ:FRTA) – Oppenheimer issued their Q2 2018 earnings per share estimates for Forterra in a report released on Wednesday. Oppenheimer analyst I. Zaffino anticipates that the construction company will post earnings per share of $0.14 for the quarter. Oppenheimer also issued estimates for Forterra’s Q3 2018 earnings at $0.28 EPS.
FRTA has been the subject of a number of other reports. Goldman Sachs Group lowered shares of Forterra from a “neutral” rating to a “sell” rating and set a $21.00 price target for the company. in a research note on Tuesday, January 30th. Zacks Investment Research lowered shares of Forterra from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Royal Bank of Canada reiterated a “hold” rating and issued a $9.00 price target on shares of Forterra in a research note on Wednesday, November 15th. Barclays set a $8.00 price target on shares of Forterra and gave the stock a “hold” rating in a research note on Monday, January 8th. Finally, Stephens reiterated an “equal weight” rating and issued a $9.00 price target (up from $4.00) on shares of Forterra in a research note on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Forterra currently has an average rating of “Hold” and an average price target of $11.81.
Forterra (NASDAQ:FRTA) last announced its quarterly earnings results on Wednesday, March 7th. The construction company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). Forterra had a negative return on equity of 44.06% and a negative net margin of 0.13%. The company had revenue of $361.17 million during the quarter, compared to the consensus estimate of $327.91 million. During the same quarter in the prior year, the firm earned ($0.81) earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rehmann Capital Advisory Group purchased a new position in shares of Forterra in the fourth quarter worth approximately $124,000. Fore Capital LLC purchased a new position in shares of Forterra in the fourth quarter worth approximately $278,000. Electron Capital Partners LLC boosted its holdings in shares of Forterra by 97.1% in the fourth quarter. Electron Capital Partners LLC now owns 1,083,005 shares of the construction company’s stock worth $12,021,000 after buying an additional 533,623 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Forterra in the fourth quarter worth approximately $139,000. Finally, Ellington Management Group LLC purchased a new position in shares of Forterra in the fourth quarter worth approximately $161,000.
WARNING: “Oppenheimer Comments on Forterra Inc’s Q2 2018 Earnings (FRTA)” was first reported by Markets Daily and is the sole property of of Markets Daily. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.themarketsdaily.com/2018/03/13/oppenheimer-comments-on-forterra-incs-q2-2018-earnings-frta.html.
Forterra Company Profile
Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
Receive News & Ratings for Forterra Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Forterra and related companies with MarketBeat.com's FREE daily email newsletter.