Brokerages predict that Forterra Inc (NASDAQ:FRTA) will post $369.08 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Forterra’s earnings. The lowest sales estimate is $363.13 million and the highest is $379.10 million. Forterra posted sales of $361.17 million during the same quarter last year, which suggests a positive year over year growth rate of 2.2%. The company is expected to announce its next earnings report on Wednesday, March 6th.
On average, analysts expect that Forterra will report full year sales of $1.51 billion for the current year, with estimates ranging from $1.50 billion to $1.52 billion. For the next financial year, analysts forecast that the firm will report sales of $1.57 billion, with estimates ranging from $1.56 billion to $1.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Forterra.
Forterra (NASDAQ:FRTA) last issued its quarterly earnings data on Tuesday, November 6th. The construction company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $449.72 million. During the same quarter last year, the company earned ($0.18) earnings per share. The company’s revenue for the quarter was down 2.2% on a year-over-year basis.
A number of brokerages have issued reports on FRTA. BidaskClub downgraded Forterra from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Barclays set a $9.00 price objective on Forterra and gave the company a “hold” rating in a research report on Wednesday, November 7th. Oppenheimer set a $13.00 price objective on Forterra and gave the company a “buy” rating in a research report on Tuesday, November 6th. Citigroup upped their price objective on Forterra from $9.50 to $10.50 and gave the company a “neutral” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research upgraded Forterra from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.46.
Several hedge funds and other institutional investors have recently modified their holdings of FRTA. Millennium Management LLC purchased a new stake in shares of Forterra in the first quarter worth approximately $774,000. First Trust Advisors LP raised its holdings in shares of Forterra by 2.4% in the second quarter. First Trust Advisors LP now owns 545,139 shares of the construction company’s stock worth $5,304,000 after buying an additional 12,666 shares during the period. Engineers Gate Manager LP purchased a new stake in shares of Forterra in the second quarter worth approximately $369,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Forterra by 23.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 100,398 shares of the construction company’s stock worth $977,000 after buying an additional 19,378 shares during the period. Finally, Manchester Capital Management LLC purchased a new stake in shares of Forterra in the second quarter worth approximately $796,000.
FRTA stock traded down $0.23 during midday trading on Friday, reaching $4.74. 26,772 shares of the company traded hands, compared to its average volume of 266,808. Forterra has a 52-week low of $4.19 and a 52-week high of $12.30. The company has a debt-to-equity ratio of 10.83, a current ratio of 2.22 and a quick ratio of 1.24. The company has a market cap of $318.45 million, a PE ratio of -6.13 and a beta of 2.47.
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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