Wall Street analysts expect Forterra plc (NASDAQ:FRTA) to report $306.25 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Forterra’s earnings, with the lowest sales estimate coming in at $298.00 million and the highest estimate coming in at $314.50 million. Forterra reported sales of $338.30 million during the same quarter last year, which indicates a negative year-over-year growth rate of 9.5%. The company is expected to announce its next quarterly earnings report on Monday, May 21st.
According to Zacks, analysts expect that Forterra will report full-year sales of $306.25 million for the current year, with estimates ranging from $1.57 billion to $1.59 billion. For the next fiscal year, analysts expect that the company will post sales of $1.63 billion per share, with estimates ranging from $1.61 billion to $1.65 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Forterra.
Forterra (NASDAQ:FRTA) last issued its quarterly earnings data on Wednesday, March 7th. The construction company reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.05). Forterra had a negative return on equity of 44.06% and a negative net margin of 0.13%. The company had revenue of $361.17 million for the quarter, compared to the consensus estimate of $327.91 million. During the same period in the previous year, the firm earned ($0.81) earnings per share. The company’s revenue was up 2.0% compared to the same quarter last year.
A number of research analysts have recently commented on FRTA shares. Goldman Sachs cut Forterra from a “neutral” rating to a “sell” rating and set a $21.00 target price on the stock. in a research note on Tuesday, January 30th. Zacks Investment Research cut Forterra from a “buy” rating to a “hold” rating in a research note on Monday, January 1st. Barclays set a $8.00 target price on Forterra and gave the company a “hold” rating in a research note on Monday, January 8th. BidaskClub cut Forterra from a “buy” rating to a “hold” rating in a research note on Friday, January 19th. Finally, ValuEngine cut Forterra from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.81.
Shares of NASDAQ FRTA opened at $8.31 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.41 and a debt-to-equity ratio of 9.54. Forterra has a 1-year low of $3.02 and a 1-year high of $20.47. The company has a market cap of $533.76, a price-to-earnings ratio of -10.52 and a beta of 0.71.
Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can lifted its holdings in Forterra by 379.5% during the fourth quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock worth $107,000 after buying an additional 7,590 shares during the period. Rehmann Capital Advisory Group purchased a new stake in Forterra during the fourth quarter worth $124,000. Two Sigma Investments LP purchased a new stake in Forterra during the fourth quarter worth $139,000. Ellington Management Group LLC purchased a new stake in Forterra during the fourth quarter worth $161,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Forterra by 672.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 16,393 shares of the construction company’s stock worth $182,000 after buying an additional 14,272 shares during the period.
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Forterra Company Profile
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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