Ferguson (NASDAQ:FERG) Announces Earnings Results

Ferguson (NASDAQ:FERG) announced its earnings results on Tuesday. The company reported $2.98 EPS for the quarter, topping the consensus estimate 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 company had revenue of $7.95 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period last year, the company posted $2.77 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis.

Ferguson Stock Up 5.0 %

FERG opened at $207.09 on Wednesday. The company has a market capitalization of $41.82 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 6.13 and a beta of 1.21. The business has a 50-day moving average of $204.35 and a 200-day moving average of $206.95. Ferguson has a fifty-two week low of $147.62 and a fifty-two week high of $225.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.68 and a quick ratio of 0.94.

Ferguson declared that its Board of Directors has authorized a stock repurchase program on Tuesday, June 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

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

Ferguson Company Profile

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.