Forterra Inc (NASDAQ:FRTA) – Research analysts at SunTrust Banks dropped their Q1 2018 earnings per share (EPS) estimates for Forterra in a research report issued on Wednesday. SunTrust Banks analyst R. Seth now forecasts that the construction company will earn ($0.46) per share for the quarter, down from their previous forecast of ($0.28). SunTrust Banks currently has a “Hold” rating and a $7.00 target price on the stock. SunTrust Banks also issued estimates for Forterra’s Q2 2018 earnings at $0.13 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at ($0.14) EPS, FY2018 earnings at ($0.24) EPS and FY2019 earnings at $0.02 EPS.
FRTA has been the subject of a number of other reports. BidaskClub raised Forterra from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research lowered Forterra from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. Barclays set a $8.00 target price on Forterra and gave the company a “hold” rating in a research report on Monday, January 8th. Goldman Sachs Group lowered Forterra from a “neutral” rating to a “sell” rating and set a $21.00 target price for the company. in a research report on Tuesday, January 30th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $9.00 target price on shares of Forterra in a research report on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Forterra presently has a consensus rating of “Hold” and an average price target of $11.81.
Forterra (NASDAQ:FRTA) last posted its quarterly earnings data on Wednesday, March 7th. The construction company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.05). Forterra had a negative net margin of 0.13% and a negative return on equity of 44.06%. The business had revenue of $361.17 million for the quarter, compared to analysts’ expectations of $327.91 million. During the same quarter in the previous year, the firm earned ($0.81) EPS. Forterra’s revenue was up 2.0% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its position in Forterra by 379.5% during the 4th quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock valued at $107,000 after purchasing an additional 7,590 shares in the last quarter. Rehmann Capital Advisory Group bought a new position in shares of Forterra in the 4th quarter worth $124,000. Two Sigma Investments LP bought a new position in shares of Forterra in the 4th quarter worth $139,000. Voya Investment Management LLC bought a new position in shares of Forterra in the 2nd quarter worth $104,000. Finally, Ellington Management Group LLC bought a new position in shares of Forterra in the 4th quarter worth $161,000.
Forterra, Inc is a manufacturer of pipe and precast products. The Company offers products for a range of water-related infrastructure applications, including water transmission, distribution and drainage. The Company operates approximately 95 facilities. Its products are available in the United States and Eastern Canada.
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