Fortrea (FTRE) to Release Earnings on Friday

Fortrea (NASDAQ:FTRE) will be issuing its quarterly earnings data before the market opens on Friday, November 8th. Analysts expect the company to announce earnings of $0.27 per share for the quarter. Fortrea has set its FY 2024 guidance at EPS.Parties interested in listening to the company’s conference call can do so using this link.

Fortrea (NASDAQ:FTRE) last released its quarterly earnings data on Monday, August 12th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.10). Fortrea had a negative net margin of 10.09% and a positive return on equity of 1.98%. The firm had revenue of $662.40 million for the quarter, compared to the consensus estimate of $689.08 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue was down 8.6% compared to the same quarter last year. On average, analysts expect Fortrea to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Fortrea Trading Up 5.8 %

Shares of Fortrea stock opened at $18.09 on Thursday. The stock has a fifty day simple moving average of $19.79 and a 200 day simple moving average of $24.30. Fortrea has a 12-month low of $16.53 and a 12-month high of $41.02. The company has a market capitalization of $1.62 billion, a P/E ratio of -5.55, a price-to-earnings-growth ratio of 2.71 and a beta of 0.70. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.77.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Barclays decreased their price target on Fortrea from $21.00 to $20.00 and set an “equal weight” rating for the company in a report on Tuesday, October 15th. The Goldman Sachs Group decreased their price target on Fortrea from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price target on Fortrea from $28.00 to $23.00 and set a “hold” rating for the company in a report on Tuesday, August 20th. Citigroup reduced their price objective on Fortrea from $42.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Evercore ISI reduced their price objective on Fortrea from $22.00 to $20.00 and set an “in-line” rating for the company in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.60.

Fortrea Company Profile

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.