Fortrea (FTRE) Scheduled to Post Earnings on Tuesday

Fortrea (NASDAQ:FTRE) is scheduled to be announcing its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Fortrea (NASDAQ:FTRE) last issued its quarterly earnings results on Monday, March 11th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). The company had revenue of $775.40 million during the quarter, compared to the consensus estimate of $779.09 million. The business’s revenue was up 1.8% compared to the same quarter last year. On average, analysts expect Fortrea to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Fortrea Stock Performance

Shares of Fortrea stock opened at $37.41 on Friday. The business has a fifty day simple moving average of $38.01 and a two-hundred day simple moving average of $33.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62. Fortrea has a 12 month low of $24.92 and a 12 month high of $41.02.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird started coverage on shares of Fortrea in a research note on Friday, March 22nd. They set a “neutral” rating and a $43.00 price objective on the stock. Barclays dropped their price target on Fortrea from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, January 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Fortrea in a research report on Wednesday, March 6th. They set a “hold” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.29.

About Fortrea

Fortrea Holdings Inc, a contract research organization, primarily engages in the provision of biopharmaceutical product and medical device development services worldwide. The company operates through two segments: Clinical Services and Enabling Services. The Clinical Services segment provides across the clinical pharmacology and clinical development spectrum.