Forterra (FRTA) Earning Somewhat Favorable Media Coverage, Analysis Finds
Media coverage about Forterra (NASDAQ:FRTA) has trended somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Forterra earned a news impact score of 0.13 on Accern’s scale. Accern also assigned press coverage about the construction company an impact score of 43.0455484741185 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have effected Accern’s scoring:
- SHAREHOLDER ALERT – Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Forterra, Inc. (FRTA) and Lead Plaintiff Deadline – October 13, 2017 (finance.yahoo.com)
- The Klein Law Firm Notifies Investors of a Class Action Filed on Behalf of Forterra, Inc. Shareholders (FRTA) (finance.yahoo.com)
- IMPORTANT SHAREHOLDER ALERT: Lundin Law PC Announces Securities Class Action Lawsuit against Forterra, Inc. and Reminds Investors with Losses to Contact the Firm (finance.yahoo.com)
- Oppenheimer Holdings Equities Analysts Reduce Earnings Estimates for FORTERRA INC (FRTA) (americanbankingnews.com)
- Kessler Topaz Meltzer & Check, LLP Announces Shareholder Class Action Lawsuit Filed Against Forterra, Inc. (finance.yahoo.com)
A number of brokerages have recently issued reports on FRTA. ValuEngine upgraded shares of Forterra from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Barclays PLC reiterated a “buy” rating and set a $15.00 price target (down from $18.00) on shares of Forterra in a research note on Monday, July 24th. Citigroup Inc. dropped their price target on shares of Forterra from $8.50 to $4.00 and set a “buy” rating on the stock in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Forterra from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, SunTrust Banks, Inc. lowered shares of Forterra from a “buy” rating to a “hold” rating and set a $14.00 price target on the stock. in a research note on Tuesday, May 16th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Forterra presently has a consensus rating of “Hold” and an average target price of $15.56.
Shares of Forterra (NASDAQ:FRTA) traded down 4.60% on Thursday, hitting $3.32. 1,190,194 shares of the stock were exchanged. The firm’s market cap is $213.15 million. Forterra has a one year low of $3.19 and a one year high of $22.76. The firm’s 50 day moving average price is $6.71 and its 200 day moving average price is $12.63.
Forterra (NASDAQ:FRTA) last issued its quarterly earnings data on Thursday, August 10th. The construction company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The firm had revenue of $436.69 million during the quarter, compared to the consensus estimate of $449.68 million. Forterra had a negative net margin of 4.72% and a negative return on equity of 45.03%. Equities analysts anticipate that Forterra will post ($0.50) earnings per share for the current year.
In other news, CFO William Matthew Brown acquired 22,200 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $4.80 per share, for a total transaction of $106,560.00. Following the transaction, the chief financial officer now directly owns 47,501 shares in the company, valued at approximately $228,004.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.
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