Ferrari (NYSE:RACE) Posts Quarterly Earnings Results

Ferrari (NYSE:RACE) announced its earnings results on Tuesday. The company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.10, Zacks reports. Ferrari had a net margin of 22.95% and a return on equity of 45.41%. Ferrari updated its FY 2025 guidance to 10.290- EPS.

Ferrari Stock Performance

RACE stock traded up $12.10 during trading hours on Tuesday, reaching $404.13. The stock had a trading volume of 950,839 shares, compared to its average volume of 494,149. Ferrari has a fifty-two week low of $372.31 and a fifty-two week high of $519.10. The stock has a market capitalization of $97.95 billion, a PE ratio of 41.72, a price-to-earnings-growth ratio of 4.28 and a beta of 1.07. The stock has a 50-day simple moving average of $451.64 and a 200 day simple moving average of $467.43. The company has a debt-to-equity ratio of 0.89, a current ratio of 5.09 and a quick ratio of 3.94.

Institutional Investors Weigh In On Ferrari

A number of institutional investors have recently modified their holdings of the company. State of Wyoming acquired a new position in Ferrari during the second quarter worth $69,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 acquiring an additional 46 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Ferrari by 18.8% in 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. boosted its holdings in Ferrari by 17.6% in the second quarter. Rakuten Securities Inc. now owns 321 shares of the company’s stock valued at $158,000 after acquiring an additional 48 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Ferrari during the 2nd quarter valued at $288,000.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RACE shares. Sanford C. Bernstein dropped their price objective on shares of Ferrari from $554.00 to $475.00 and set an “outperform” rating for the company in a research note on Friday, October 10th. Royal Bank Of Canada reissued an “outperform” rating on shares of Ferrari in a research report on Monday, August 4th. Evercore ISI dropped their price objective on shares of Ferrari from $580.00 to $475.00 and set an “outperform” rating on the stock in a research note on Friday. Berenberg Bank set a $570.00 price objective on shares of Ferrari in a report on Friday, October 3rd. Finally, Cfra Research downgraded shares of Ferrari from a “hold” rating to a “moderate sell” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $501.14.

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.