Ferguson (FERG) Set to Announce Earnings on Tuesday

Ferguson (NASDAQ:FERG) will issue its quarterly earnings data before the market opens on Tuesday, September 17th. Analysts expect the company to announce earnings of $2.91 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Ferguson Price Performance

FERG opened at $193.07 on Monday. The stock has a 50-day moving average price of $203.83 and a 200-day moving average price of $207.10. Ferguson has a 12-month low of $147.62 and a 12-month high of $225.63. The stock has a market capitalization of $38.99 billion, a P/E ratio of 21.10, a PEG ratio of 5.84 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 0.94 and a debt-to-equity ratio of 0.64.

Ferguson announced that its Board of Directors has authorized a share buyback program on Tuesday, June 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on FERG shares. Royal Bank of Canada cut their price objective on Ferguson from $217.00 to $211.00 and set an “outperform” rating for the company in a report on Wednesday, June 5th. Jefferies Financial Group upped their price objective on Ferguson from $238.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Finally, Barclays cut their target price on shares of Ferguson from $232.00 to $229.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $230.00.

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.