Fortrea (NASDAQ:FTRE) Releases Earnings Results, Beats Estimates By $0.08 EPS

Fortrea (NASDAQ:FTRE) issued its earnings results on Monday. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08, Zacks reports. Fortrea had a positive return on equity of 2.00% and a negative net margin of 10.99%. Fortrea updated its FY 2025 guidance to EPS.

Fortrea Stock Up 3.2%

NASDAQ:FTRE opened at $6.14 on Monday. Fortrea has a 1 year low of $4.77 and a 1 year high of $29.32. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74. The stock has a market cap of $555.92 million, a price-to-earnings ratio of -1.80, a PEG ratio of 1.78 and a beta of 2.15. The stock has a 50-day moving average price of $7.22 and a two-hundred day moving average price of $14.32.

Wall Street Analyst Weigh In

FTRE has been the subject of several research analyst reports. Mizuho cut their price objective on Fortrea from $12.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group cut their price objective on Fortrea from $22.00 to $11.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Robert W. Baird set a $12.00 target price on Fortrea in a research note on Tuesday, March 4th. William Blair reissued a “market perform” rating on shares of Fortrea in a research note on Tuesday, March 4th. Finally, Barclays reissued an “underweight” rating and issued a $6.00 target price (down from $12.00) on shares of Fortrea in a research note on Thursday, April 10th. Two equities research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.82.

About Fortrea

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.