Ferguson (NASDAQ:FERG) Issues Earnings Results, Beats Estimates By $0.12 EPS

Ferguson (NASDAQ:FERG) posted its quarterly earnings data on Tuesday. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12, Briefing.com reports. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The firm had revenue of $7.95 billion during the quarter, compared to analyst estimates of $8.01 billion. During the same quarter last year, the business posted $2.77 EPS. The company’s revenue was up 1.4% on a year-over-year basis.

Ferguson Price Performance

NASDAQ:FERG opened at $205.52 on Thursday. Ferguson has a 12 month low of $147.62 and a 12 month high of $225.63. The company’s 50-day moving average price is $204.35 and its two-hundred day moving average price is $206.95. The firm has a market cap of $41.50 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. The company has a quick ratio of 0.94, a current ratio of 1.68 and a debt-to-equity ratio of 0.64.

Ferguson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.79 dividend. The ex-dividend date is Friday, September 27th. This represents a $3.16 dividend on an annualized basis and a yield of 1.54%. Ferguson’s payout ratio is currently 34.54%.

Wall Street Analyst Weigh In

FERG has been the subject of a number of research reports. UBS Group lifted their target price on shares of Ferguson from $228.00 to $236.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company decreased their target price on shares of Ferguson from $250.00 to $225.00 and set an “overweight” rating for the company in a research note on Wednesday. Jefferies Financial Group lifted their target price on shares of Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Citigroup lifted their target price on shares of Ferguson from $203.00 to $221.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Robert W. Baird lifted their target price on shares of Ferguson from $222.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Ferguson presently has an average rating of “Moderate Buy” and an average price target of $231.57.

Ferguson declared that its board has approved a share buyback plan on Tuesday, June 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 2.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Ferguson

Ferguson plc distributes plumbing and heating products in the United States and Canada. It offers plumbing and heating solutions to customers in the residential, commercial, civil/infrastructure, and industrial end markets. The company also provides expertise, solutions, and products, including infrastructure, plumbing, appliances, fire, fabrication, and others, as well as heating, ventilation, and air conditioning products under the Ferguson brand name.