Fortrea (FTRE) Scheduled to Post Earnings on Friday

Fortrea (NASDAQ:FTRE) is scheduled to post its quarterly earnings results before the market opens on Friday, November 8th. Analysts expect Fortrea to post earnings of $0.27 per share for the quarter. Fortrea has set its FY 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

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

Fortrea Stock Up 1.4 %

Fortrea stock opened at $17.10 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.53 billion, a P/E ratio of -5.24, a P/E/G ratio of 2.71 and a beta of 0.70. The firm has a 50 day moving average price of $20.00 and a 200-day moving average price of $24.47. Fortrea has a twelve month low of $16.53 and a twelve month high of $41.02.

Analysts Set New Price Targets

A number of research firms have issued reports on FTRE. Jefferies Financial Group downgraded Fortrea from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $21.00 in a research report on Wednesday, September 25th. Bank of America dropped their price objective on shares of Fortrea from $26.00 to $21.00 and set an “underperform” rating on the stock in a report on Tuesday, August 13th. Barclays reduced their target price on shares of Fortrea from $21.00 to $20.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 15th. Robert W. Baird dropped their price target on shares of Fortrea from $38.00 to $28.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 13th. Finally, TD Cowen reduced their price objective on shares of Fortrea from $27.00 to $23.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Fortrea currently 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.