Ferguson (NASDAQ:FERG) Releases Earnings Results, Beats Expectations By $0.12 EPS

Ferguson (NASDAQ:FERG) posted its quarterly earnings results on Tuesday. The company reported $2.98 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.12, Briefing.com reports. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $8.01 billion. Ferguson had a net margin of 6.33% and a return on equity of 36.89%. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.77 earnings per share.

Ferguson Price Performance

Shares of FERG opened at $207.09 on Wednesday. The company has a market capitalization of $41.82 billion, a P/E ratio of 20.80, a P/E/G ratio of 6.13 and a beta of 1.21. The business’s 50-day moving average is $204.35 and its two-hundred day moving average is $206.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.94 and a current ratio of 1.68. Ferguson has a fifty-two week low of $147.62 and a fifty-two week high of $225.63.

Analysts Set New Price Targets

A number of research analysts have commented on FERG shares. Barclays reduced their price target on Ferguson from $232.00 to $229.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada lowered their price target on shares of Ferguson from $217.00 to $211.00 and set an “outperform” rating on the stock in a report on Wednesday, June 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Ferguson from $238.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. One 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.00.

Ferguson declared that its Board of Directors has authorized a share repurchase plan 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 plans are usually a sign that the company’s board believes its shares are undervalued.

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.