Farfetch Ltd (NYSE:FTCH) Expected to Post Earnings of -$0.30 Per Share

Wall Street brokerages expect Farfetch Ltd (NYSE:FTCH) to post earnings per share of ($0.30) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Farfetch’s earnings, with estimates ranging from ($0.40) to ($0.20). Farfetch also reported earnings of ($0.30) per share in the same quarter last year. The company is scheduled to announce its next quarterly earnings report on Thursday, November 14th.

According to Zacks, analysts expect that Farfetch will report full-year earnings of ($1.08) per share for the current fiscal year, with EPS estimates ranging from ($1.33) to ($0.84). For the next year, analysts forecast that the business will report earnings of ($0.91) per share, with EPS estimates ranging from ($1.21) to ($0.51). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Farfetch.

Farfetch (NYSE:FTCH) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.09). Farfetch had a negative return on equity of 25.53% and a negative net margin of 40.23%. The firm had revenue of $209.30 million for the quarter, compared to analysts’ expectations of $196.51 million. The company’s revenue for the quarter was up 42.7% on a year-over-year basis.

Several equities analysts have weighed in on the stock. BTIG Research initiated coverage on shares of Farfetch in a research report on Tuesday, July 16th. They set a “buy” rating and a $26.00 price objective on the stock. KeyCorp initiated coverage on shares of Farfetch in a report on Wednesday, June 12th. They set an “overweight” rating and a $27.00 price target on the stock. Oppenheimer lowered their price target on shares of Farfetch from $32.00 to $25.00 in a report on Wednesday, August 14th. Zacks Investment Research upgraded shares of Farfetch from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Finally, China Renaissance Securities restated a “hold” rating on shares of Farfetch in a report on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $24.42.

Several hedge funds have recently added to or reduced their stakes in FTCH. Morgan Stanley lifted its stake in shares of Farfetch by 139.8% in the 2nd quarter. Morgan Stanley now owns 32,155,141 shares of the company’s stock valued at $668,828,000 after purchasing an additional 18,744,626 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Farfetch by 47.0% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 24,656,061 shares of the company’s stock valued at $512,846,000 after purchasing an additional 7,886,096 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Farfetch in the 2nd quarter valued at $128,360,000. Nuveen Asset Management LLC acquired a new stake in shares of Farfetch in the 2nd quarter valued at $94,234,000. Finally, Cadian Capital Management LP lifted its stake in shares of Farfetch by 127.3% in the 2nd quarter. Cadian Capital Management LP now owns 2,500,000 shares of the company’s stock valued at $52,000,000 after purchasing an additional 1,400,000 shares during the last quarter. 49.77% of the stock is owned by institutional investors and hedge funds.

NYSE FTCH traded down $0.42 on Monday, hitting $10.83. 4,715,552 shares of the stock were exchanged, compared to its average volume of 2,748,362. Farfetch has a 52-week low of $9.22 and a 52-week high of $32.40. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.19 and a quick ratio of 4.22. The company has a market capitalization of $3.37 billion and a price-to-earnings ratio of -18.36. The company’s 50-day moving average price is $18.27 and its two-hundred day moving average price is $22.12.

Farfetch Company Profile

Farfetch Ltd. engages in the retail of fashion and luxury goods. It offers womenswear, menswear, kidswear, vintage, fine watches, and fine jewelry. The company was founded by José Manuel Ferreira Neves in 2007 and launched in 2008 and is headquartered in London, the United Kingdom.

Further Reading: How does the Federal Reserve determine interest rates?

Get a free copy of the Zacks research report on Farfetch (FTCH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Farfetch Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farfetch and related companies with MarketBeat.com's FREE daily email newsletter.