Wall Street Experts Revise Ferguson Enterprises Q4 Earnings Outlook
Upcoming Earnings Release for Ferguson Enterprises
Ferguson Enterprises Inc. (NYSE: FERG) is preparing to announce its earnings results for the fourth quarter soon, stirring anticipation among investors and analysts alike. Industry experts are keenly watching what the numbers will reveal about the company's financial health and market performance.
Analysts’ Expectations
Recent forecasts suggest that Ferguson is expected to report earnings of around $2.88 per share for the quarter. This figure indicates a notable increase compared to the previous year, where earnings stood at $2.77 per share. Furthermore, Ferguson anticipates achieving quarterly revenue of approximately $8.06 billion, which is an increase from the $7.84 billion reported in the same quarter last year. Such growth is promising and reflects positively on the company's operational strategies and market adaptability.
Stock Performance Insights
On the last trading day, shares of Ferguson rose by 0.9%, closing at $190.18. This slight uptick demonstrates investor confidence in the company’s upcoming results, especially in light of the anticipated growth.
Recent Analyst Ratings
Jefferies
In the latest updates from Wall Street analysts, Jefferies’ Philip Ng maintained a Buy rating for Ferguson and increased his price target from $238 to $250. His accuracy in previous predictions has been noted at 67%, showing a solid track record for insights.
Barclays
Barclays analyst Matthew Bouley has designated an Overweight rating on the stock, although he adjusted his price target down from $232 to $229, indicating a strategic reevaluation. Bouley boasts an impressive accuracy of 75% in his assessments.
RBC Capital
RBC Capital analyst Mike Dahl has also offered his perspective, maintaining an Outperform rating while reducing his price target from $217 to $211. His consistent accuracy also stands at 75%, highlighting his reliability in market evaluations.
UBS and Truist Contributions
Additionally, UBS analyst John Lovallo reaffirmed a Buy rating and elevated his price target from $225 to $236, while Keith Hughes from Truist Securities raised his target from $197 to $230, maintaining a Buy rating. Hughes has an impressive accuracy rate of 83%, showcasing his strong analytical capabilities.
Market Sentiment and Future Outlook
As the earnings release approaches, analysts’ sentiments appear cautiously optimistic. The anticipated increase in both earnings per share and revenue signals that Ferguson might continue on an upswing, supported by favorable market dynamics and a robust operational framework. These factors potentially bode well for investors considering FERG stock.
Frequently Asked Questions
What is the expected earnings report date for Ferguson Enterprises?
Ferguson Enterprises is expected to release its earnings report shortly, generating considerable interest among investors.
How much are analysts expecting Ferguson to earn per share?
Analysts are predicting earnings of approximately $2.88 per share, which indicates growth from the previous year's earnings.
What is the current stock price of Ferguson Enterprises?
The stock closed at $190.18 recently, reflecting a 0.9% increase in value.
What are the analysts' ratings for Ferguson Enterprises?
Various analysts have rated Ferguson with Buy and Outperform ratings, reflecting positive sentiments about the company.
What are the expected revenues for Ferguson in Q4?
Ferguson is projecting around $8.06 billion in revenue for the upcoming quarter, an increase from last year.
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