Zacks: Analysts Expect Forterra plc (FRTA) Will Post Earnings of -$0.47 Per Share

Brokerages expect Forterra plc (NASDAQ:FRTA) to announce earnings per share (EPS) of ($0.47) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Forterra’s earnings. The lowest EPS estimate is ($0.47) and the highest is ($0.46). Forterra posted earnings of ($0.31) per share in the same quarter last year, which suggests a negative year over year growth rate of 51.6%. The business is expected to issue its next quarterly earnings report on Monday, May 21st.

According to Zacks, analysts expect that Forterra will report full-year earnings of ($0.18) per share for the current year, with EPS estimates ranging from ($0.24) to ($0.08). For the next fiscal year, analysts forecast that the firm will post earnings of $0.02 per share, with EPS estimates ranging from $0.01 to $0.02. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Forterra.

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Forterra (NASDAQ:FRTA) last released its earnings results 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 return on equity of 44.06% and a negative net margin of 0.13%. The firm had revenue of $361.17 million during the quarter, compared to analysts’ expectations of $327.91 million. During the same period in the prior year, the business earned ($0.81) earnings per share. The business’s quarterly revenue was up 2.0% compared to the same quarter last year.

A number of analysts have issued reports on the company. BidaskClub raised Forterra from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research downgraded 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 stock a “hold” rating in a research report on Monday, January 8th. Goldman Sachs downgraded 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, SunTrust Banks set a $7.00 target price on Forterra and gave the stock a “hold” rating in a research report on Wednesday, March 7th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $11.81.

Several institutional investors have recently bought and sold shares of FRTA. Bank of Montreal Can boosted its holdings in shares of Forterra by 379.5% in the fourth quarter. Bank of Montreal Can now owns 9,590 shares of the construction company’s stock worth $107,000 after acquiring an additional 7,590 shares during the period. Rehmann Capital Advisory Group bought a new position in shares of Forterra in the fourth quarter worth $124,000. Two Sigma Investments LP bought a new position in shares of Forterra in the fourth quarter worth $139,000. Ellington Management Group LLC bought a new position in shares of Forterra in the fourth quarter worth $161,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Forterra by 672.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 16,393 shares of the construction company’s stock worth $182,000 after acquiring an additional 14,272 shares during the period.

NASDAQ:FRTA traded down $0.29 during trading hours on Friday, reaching $8.31. The stock had a trading volume of 222,111 shares, compared to its average volume of 446,998. The company has a debt-to-equity ratio of 9.54, a current ratio of 2.39 and a quick ratio of 1.41. Forterra has a 12-month low of $3.02 and a 12-month high of $20.47. The company has a market capitalization of $552.39, a P/E ratio of -10.52 and a beta of 0.71.

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Forterra Company Profile

Forterra, Inc manufactures and sells water and drainage pipe and products in the United States and Eastern Canada. It also manufactures structural and specialty precast products, and precast concrete bridge girders; and pressure, prestressed concrete, and bar-wrapped concrete pipes. The company serves water-related infrastructure applications, including water transmission, distribution, and drainage; and contractors, distributors, municipalities, and utilities waterworks.

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