Ferrari N.V. (RACE) To Go Ex-Dividend on April 21st

Ferrari N.V. (NYSE:RACE) declared an annual dividend on Thursday, February 19th. Investors of record on Tuesday, April 21st will be given a dividend of 3.615 per share on Tuesday, May 5th. This represents a dividend yield of 99.0%. The ex-dividend date of this dividend is Tuesday, April 21st. This is a 15.6% increase from Ferrari’s previous annual dividend of $3.13.

Ferrari has a dividend payout ratio of 4.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Ferrari to earn $10.40 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 5.0%.

Ferrari Stock Up 0.1%

Shares of NYSE RACE opened at $366.93 on Friday. The firm’s 50-day simple moving average is $360.25 and its 200 day simple moving average is $408.73. The company has a market cap of $88.93 billion, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 3.57 and a beta of 0.99. The company has a quick ratio of 3.78, a current ratio of 4.90 and a debt-to-equity ratio of 0.76. Ferrari has a 12-month low of $328.00 and a 12-month high of $519.10.

Wall Street Analysts Forecast Growth

RACE has been the subject of several research analyst reports. Citigroup upgraded shares of Ferrari from a “sell” rating to a “neutral” rating in a research report on Thursday, February 12th. Sanford C. Bernstein reissued an “outperform” rating and issued a $410.00 target price on shares of Ferrari in a research note on Wednesday, February 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ferrari in a research note on Wednesday, February 11th. Zacks Research upgraded Ferrari from a “strong sell” rating to a “hold” rating in a report on Monday, February 2nd. Finally, BNP Paribas Exane upgraded Ferrari to a “strong-buy” rating in a research report on Thursday, December 11th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $476.52.

Ferrari Company Profile

Ferrari N.V. (NYSE: RACE) is an Italian luxury sports car manufacturer best known for designing, engineering and selling high-performance automobiles under the Ferrari marque. The company’s core business centers on the development and manufacture of premium sports cars and limited-series models, complemented by personalization and bespoke engineering services for high-net-worth clients. Ferrari also generates revenue from brand licensing, the sale of spare parts and accessories, aftersales services, and curated client experiences such as driving programs and factory visits.

Founded from the automotive activities of Enzo Ferrari, the first cars bearing the Ferrari name emerged in the late 1940s; the brand has since built a reputation for performance, craftsmanship and exclusivity.