Ferrari (NYSE:RACE) Releases Earnings Results, Beats Expectations By $0.15 EPS

Ferrari (NYSE:RACE) issued its quarterly earnings data on Tuesday. The company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.15, Zacks reports. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.94 billion. Ferrari had a return on equity of 45.74% and a net margin of 22.65%. Ferrari updated its FY 2025 guidance to 10.290- EPS.

Ferrari Stock Down 0.3%

Shares of RACE traded down $1.05 during midday trading on Thursday, hitting $405.62. The company had a trading volume of 212,088 shares, compared to its average volume of 496,674. The company’s 50-day simple moving average is $448.98 and its 200-day simple moving average is $466.72. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.94 and a current ratio of 5.09. The firm has a market capitalization of $98.31 billion, a P/E ratio of 40.98, a P/E/G ratio of 4.24 and a beta of 1.07. Ferrari has a 1 year low of $372.31 and a 1 year high of $519.10.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RACE. Weiss Ratings reissued a “buy (b-)” rating on shares of Ferrari in a research report on Friday, October 31st. Citigroup cut their price objective on Ferrari from $579.00 to $529.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Hsbc Global Res upgraded Ferrari from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of Ferrari in a report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded Ferrari from a “hold” rating to a “buy” rating in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $504.71.

Hedge Funds Weigh In On Ferrari

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming purchased a new stake in Ferrari during the second quarter worth approximately $69,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Ferrari by 31.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 194 shares of the company’s stock worth $82,000 after purchasing an additional 46 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Ferrari by 18.8% during the second quarter. Geneos Wealth Management Inc. now owns 272 shares of the company’s stock worth $133,000 after purchasing an additional 43 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Ferrari by 17.6% during the second quarter. Rakuten Securities Inc. now owns 321 shares of the company’s stock worth $158,000 after purchasing an additional 48 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in Ferrari during the second quarter worth approximately $288,000.

About Ferrari

Ferrari N.V., through its subsidiaries, engages in design, engineering, production, and sale of luxury performance sports cars worldwide. The company offers range, special series, Icona, and supercars; limited edition supercars and one-off cars; and track cars. It also provides racing cars, and spare parts and engines, as well as after sales, repair, maintenance, and restoration services for cars; and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.