Wall Street brokerages expect Forterra Inc (NASDAQ:FRTA) to announce earnings per share (EPS) of ($0.28) for the current quarter, Zacks reports. Three analysts have issued estimates for Forterra’s earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at ($0.24). Forterra also reported earnings of ($0.28) per share during the same quarter last year. The firm is scheduled to report its next earnings report on Wednesday, March 6th.
According to Zacks, analysts expect that Forterra will report full year earnings of ($0.32) per share for the current year, with EPS estimates ranging from ($0.36) to ($0.27). For the next financial year, analysts forecast that the company will report earnings of ($0.02) per share, with EPS estimates ranging from ($0.15) to $0.05. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Forterra.
Forterra (NASDAQ:FRTA) last announced its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.02). Forterra had a net margin of 2.38% and a negative return on equity of 23.03%. The company had revenue of $434.51 million during the quarter, compared to analysts’ expectations of $449.72 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year.
A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Forterra from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Monday, August 13th. Citigroup raised their price target on shares of Forterra from $9.50 to $10.50 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. BidaskClub lowered shares of Forterra from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Zacks Investment Research raised shares of Forterra from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Finally, Oppenheimer set a $13.00 price target on shares of Forterra and gave the stock a “buy” rating in a research report on Tuesday, November 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.47.
FRTA traded down $0.21 during trading on Wednesday, reaching $4.86. 242,980 shares of the company’s stock were exchanged, compared to its average volume of 388,547. Forterra has a 1 year low of $4.39 and a 1 year high of $12.30. The company has a current ratio of 2.22, a quick ratio of 1.24 and a debt-to-equity ratio of 10.83. The firm has a market capitalization of $324.22 million, a PE ratio of -6.15 and a beta of 2.43.
Several hedge funds and other institutional investors have recently modified their holdings of FRTA. BlackRock Inc. grew its stake in shares of Forterra by 19.0% during the 2nd quarter. BlackRock Inc. now owns 1,596,301 shares of the construction company’s stock worth $15,531,000 after purchasing an additional 255,108 shares during the period. Royce & Associates LP grew its stake in shares of Forterra by 9.4% during the 3rd quarter. Royce & Associates LP now owns 1,907,375 shares of the construction company’s stock worth $14,229,000 after purchasing an additional 164,260 shares during the period. Millennium Management LLC acquired a new stake in shares of Forterra during the 1st quarter worth approximately $774,000. Manchester Capital Management LLC acquired a new stake in shares of Forterra during the 2nd quarter worth approximately $796,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Forterra during the 3rd quarter worth approximately $555,000.
Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.
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